Stay updated for Legal Notices - Bond Advertisement in , please enter your contact information below.

Government Forward to a Friend   
Want these enhanced features? Subscribe Now!
Ad Text

May 01, 2023

NOTICE OF INTENTION TO SELL AT PRIVATE SALE NOT EXCEEDING $1,750,000 LOUISIANA HOUSING CORPORATION MULTIFAMILY HOUSING GOVERNMENTAL NOTE (H3C PROJECT) .NOTICE IS HEREBY GIVEN in compliance with the provisions of Chapter 3-G of Title 40 of the Louisiana Revised Statutes of 1950, as amended (the "Act"), that the Louisiana Housing Corporation (the "Corporation"), proposes to sell its Multifamily Housing Governmental Note (H3C Project) in one or more series (the "Governmental Note") maturing not later than forty (40) years from their date of issuance in aggregate principal amount of One Million Seven Hundred Fifty Thousand Dollars ($1,750,000) in one or more series at a rate or rates not exceeding ten percent (10.0%) per annum. The Governmental Note is to be sold to Allianz Life Insurance Company of North America (the "Purchaser") or such other purchaser to be determined by the Corporation at a later date to finance the acquisition, construction, and equipping of H3C, located in New Orleans, Orleans Parish, Louisiana (the "Project") at a meeting of the Board of Directors of the Corporation scheduled for May 10, 2023, at ten (10:00) o'clock a.m., Louisiana time, at the offices of the Louisiana Housing Corporation, 2415 Quail Drive, Baton Rouge, Louisiana 70808. The Corporation reserves the right to postpone the date, hour and place set forth above for the sale of the Governmental Note (without any further publication of notice of the change in the sale date, time and/or location). In the event the sale is postponed as provided above, anyone desiring written notice of the subsequent date and time which said sale is to be accomplished must request such notice from the Chairman of the Board of Directors of the Corporation. The Governmental Note will be sold pursuant to the terms of a resolution to be adopted by the Corporation and a Funding Loan Agreement (the "Funding Loan Agreement") to be executed by and between the Corporation, the Purchaser, and a fiscal agent. The Governmental Note is being issued pursuant to the Act and the Funding Loan Agreement for the purpose of financing the acquisition, construction, and equipping of a multifamily housing project and paying the costs of issuance associated with the Governmental Note. The Governmental Note is limited obligations of the Corporation and will be payable solely out of the income, revenues, and receipts derived from the Project and funds and accounts held under and pursuant to the Funding Loan Agreement and pledged therefor. As provided in the Act and the Funding Loan Agreement, the Governmental Note do not constitute an obligation, either general or special, of the State of Louisiana, any municipality or any other political subdivision thereof. The principal of and interest on the Governmental Note will be payable at the principal office of the paying agent or agents selected by the Corporation in accordance with the provisions of the Funding Loan Agreement. The Governmental Note will be dated as provided in the Funding Loan Agreement, will bear interest at such rate or rates established at the time of sale of the Governmental Note (not in excess of ten percent (10.0%) per annum), payable on such dates as set forth in the Funding Loan Agreement, and will mature no later than forty (40) years from date of issuance. The Governmental Note will be issued in fully registered form in the denominations as provided in the Funding Loan Agreement. Governmental Note will be transferable as provided in the Funding Loan Agreement. This Notice of Sale of Governmental Note is being published in accordance with the requirements of the Louisiana Constitution, applicable statutes and the Act. For a period of thirty (30) days from the date of publication hereof, any person or persons in interest shall have the right to contest the legality of this notice, the resolution, any provision of the Governmental Note to be issued pursuant to it, the provisions securing the Governmental Note, and the validity of all other provisions and proceedings relating to the authorization and issuance of the Governmental Note. If no action or proceeding is instituted within the thirty (30) days, no person may contest the validity of the Governmental Note, the provisions of the resolution pursuant to which the Governmental Note were issued, the security of the Governmental Note, or the validity of any other provisions or proceedings relating to their authorization and issuance, and the Governmental Note shall be presumed conclusively to be legal. Thereafter no court shall have authority to inquire into such matters. For further information relative to the Bonds and not contained in this Notice, address Butler Snow LLP, Bond Counsel, 201 St. Charles Avenue, Suite 2700, New Orleans, LA 70170. BY ORDER OF THE BOARD OF DIRECTORS, acting as the governing authority of the Corporation. .LOUISIANA HOUSING CORPORATION /s/ Lloyd "Buddy" Spillers /s/ Barry E. Brooks Chairman Secretary .May 1, 2023

Prior Ad #

Ad # 2503896
Daily Journal of Commerce has abstracted these listings from public notices submitted to us for publication, which we do not independently verify. Where we've been able to enhance listings with supplementary information, that information is unofficial and uncorroborated. For the official version of a public notice, consult the print edition. BridgeTower Media assumes no responsibility for any errors or omissions in these listings and makes no representations regarding their accuracy or reliability.