Notice is hereby given in accordance with Section 147(f) of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated with respect thereto (collectively the "Code") and 10 MRSA §1043, that the Finance Authority of Maine (the "Authority") will hold a public hearing at [font=font36821]10:30 a.m., Eastern Time, on October 23, 2018, at its offices at 5 Community Drive, Augusta, Maine[/font], regarding the proposed issuance by the Authority of its revenue bonds in one or more series and in the aggregate principal amount of not more than $6,600,000 (the "Bonds"). The Bonds will constitute exempt facility bonds under Section 142(a)(5) and (6) of the Code. The Bonds will finance solid waste disposal facilities and sewage facilities (as further defined below, the "Project") to be owned and operated by GIGME01,LLC (the "Borrower") and located as set forth below. The proceeds of the Bonds will be loaned by the Authority to the Borrower.
The Authority is empowered under the Finance Authority of Maine Act, Chapter 110 of Title 10 of the Maine Revised Statutes, as amended, to issue its Revenue Obligation Securities, the interest on which may be exempt from Federal income taxation to assist in financing projects for the purpose of providing enlarged opportunities for gainful employment by the people of the State of Maine and to insure the preservation and betterment of the economy of the State of Maine.
The Authority has received an application for the issuance of Revenue Obligation Securities from the Borrower seeking approval for a plan of financing. At the public hearing the Authority will consider the application for a Certificate of Approval for the following Project:
[font=font36821]PROJECT USER:[/font] GIGME01, LLC
[font=font36821]PROJECT
LOCATION:[/font] 27 BioEnergy Way, Brunswick, Maine
[font=font36821]DESCRIPTION
OF PROJECT:[/font]
The Borrower intends to use the proceeds of the Bonds to
finance the costs of completing the construction and expansion
of a solid waste management facility digester and equip,
maintain and operate the Borrower's municipal waste
processing facility in Brunswick, Maine. The Borrower intends
that such facility will process and convert municipal waste into
biogas and agricultural fertilizer for third party market and
contract sales.
[font=font36821]MAXIMUM AMOUNT OF REVENUE OBLIGATION SECURITIES TO BE ISSUED BY THE AUTHORITY TO PROVIDE FINANCING FOR THE PROJECT: $6,600,000.[/font]
Interested members of the public are invited to attend the hearing. The Authority staff will present information relative to the Project and proposed financing and invite questions from persons attending. In addition, persons attending will have an opportunity to make a brief statement regarding the Project or the financing. Comments are specifically requested on those criteria set forth in 10 MRSA §1043(2), including public benefit and whether the Project could result in a substantial detriment to existing business. Persons planning to attend the hearing or to make a statement at the hearing are requested to notify the Authority in writing no later than October 19, 2018.
Persons wishing to make written comments are requested to provide the written comments to the Authority before the hearing. Written comments will also be accepted at the hearing.
If additional information is required on the proposed Revenue Obligation Securities Issue and the Project, please contact:
Finance Authority of Maine
Christopher H. Roney
5 Community Drive
P.O. Box 949
Augusta, Maine 04332-0949
(207) 623-3263
Oct. 8, 2018
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