Notice of hearing
NOTICE OF HEARING ON SOUTH
DAKOTA VALUE ADDED
The South Dakota Value Added Finance Authority (Authority) will hold a public hearing on the 26th day of January, 2012 at the South Dakota Department of Agriculture, 523 E. Capitol Avenue, Foss Building, Third Floor, Pierre, South Dakota 57501 at 8:00 a.m. CST. The hearing is on the proposal for the Authority to issue Agricultural Development Revenue Bonds, for the Project identified below, in the maximum principal amount indicated. The proceeds of the Bonds shall be loaned to the Borrower named below (who will be the owner and operator of the Project) for the purpose of financing a portion of the cost of the Project described below.
Project No. 5-0011: Maximum Principal: $4,500,000.00. Owner/Operator: North Central Farmers Elevator, 333 Alma Avenue, Ipswich, Edmunds County, South Dakota. A portion of the proceeds will be used to acquire, construct, furnish and equip a new grain drying facility located at 16253 355th Avenue, Faulkton, Faulk County, South Dakota. A portion of the proceeds will also be used to acquire, construct, reconstruct, renovate or rehabilitate existing facilities for blending seeds and/or fertilizer at the following locations within Faulk, Edmunds, Potter, and Brown counties, South Dakota: 3044 Railroad Street, Bowdle SD; 13438 363rd Avenue, Ipswich SD; 107 6th Avenue South, Faulkton SD; 605 Railroad Street, Lebanon SD; and 38565 142nd Street, Warner SD.
The Bonds, when issued, will be limited obligations of the Authority and will not constitute a general obligation or indebtedness of the State of South Dakota or any political subdivision thereof, and shall not be payable in any amount by taxation, but the Bonds will be payable solely and only from amounts received from the Borrower, named above under a Loan Agreement between the Authority and the Borrower, the obligation of which will be sufficient to pay the principal of, interest and redemption premium, if any, on the Bonds as and when it shall become due.
At the time and place fixed for the hearing, all individuals who appear will be given an opportunity to express their views for or against the proposal to issue the Bonds for the purpose of financing the Project, and all written comments previously filed with the South Dakota Valued Added Finance Authority, 523 East Capitol Avenue, Pierre, SD 57501, will be considered. Additional information regarding the Project described above may be obtained by contacting the Authority at the address shown above.
Any individual affected by the above described Project may, at or prior to the scheduled time for the aforementioned hearing on said Project, file a written request with the Authority that a local hearing be held on the proposal to issue the Bonds to finance said Project. A local hearing, if requested, would be conducted in the county where the Project is located.
Notice is further given to individuals with disabilities that this hearing is being held in a physically accessible place. Please notify the Authority at the above address within 48 hours of the public hearing if you have special needs for which this agency will need to make arrangements. The telephone number for making special arrangements is (605) 773-5436.
Terri LaBrie, Executive Director
South Dakota Value Added
Published once at the approximate cost of $38.55