TEFRA Notices

 

Notice of Public Hearing Before the Michigan Strategic Fund

Issuance of Solid Waste Disposal Limited Obligation Revenue Bonds on behalf of Chevron U.S.A.

The Michigan Strategic Fund (the “MSF”) will hold a public hearing by teleconference on October 21, 2024 at 9:00 a.m., prevailing Eastern Time, in accordance with Treasury Regulation §1.147(f)-1 and Revenue Procedure 2022-20, on the proposed issuance by the MSF of Solid Waste Disposal Limited Obligation Revenue Bonds (the “Bonds”) on behalf of Chevron U.S.A. Inc. (the “Company”). The MSF proposes to issue the Bonds, in one or more series and one or more issues within a three-year period, pursuant to a plan of finance, in the aggregate principal amount of not to exceed Three Hundred Seventy-Five Million Dollars ($375,000,000). The teleconference can be accessed by either using the zoom link or dialing the following toll-free number and entering the following meeting identification at 9:00 a.m. prevailing Eastern Time on October 21, 2024:

Weblink: https://michiganbusiness.zoom.us/j/86522821355 
Webinar ID: 865 2282 1355
Toll-Free: (888) 788-0099

The proceeds of the Bonds will be used by MSF to make one or more loans to the Company. The Company will use the proceeds of the loan from the MSF, together with other available funds, to finance the costs of the acquisition, construction, rehabilitation, installation, development and equipping of certain solid waste disposal facilities relating to processing of methane biogas from animal manure into renewable natural gas (“RNG”), including but not limited to handling and sorting systems, conveyance systems, microbial digesters and associated auxiliaries, purification, upgrader and refinement systems, collection systems, pumps, pipes, blowers and compressors, monitoring and control systems, site improvements, digestate handling and treatment systems and all other assets (including land) necessary to support the production at a cluster of five dairy farms (the “Facilities”) that will individually collect, process, and upgrade the animal manure into RNG, which will be transferred via pipelines to be injected into the Northern Natural Gas pipeline, funding any necessary reserve funds, funding capitalized interest, and paying for costs associated with the issuance of the Bonds. The Bonds are to be issued as exempt facility bonds for solid waste disposal facilities pursuant to Section 142(a)(6) of the Internal Revenue Code of 1986, as amended.

The Bonds are to be issued for each portion of the Facilities (each, a “Project”) as follows:

1. 1. In a maximum stated principal amount of not to exceed $75,000,000 under the plan of financing for the portion of the Facilities located at 7691 Russell Rd., Greenville, Michigan 48838.
   2. In a maximum stated principal amount of not to exceed $75,000,000 under the plan of financing for the portion of the Facilities located at 69444 County Road 687, Hartford, Michigan 49057.
   3. In a maximum stated principal amount of not to exceed $75,000,000 under the plan of financing for the portion of the Facilities located at 8460 W. Mulberry Rd. Morenci, Michigan 49256.
   4. In a maximum stated principal amount of not to exceed $75,000,000 under the plan of financing for the portion of the Facilities located at 5301 Flannigan Rd. Orleans, Michigan 48865.
   5. In a maximum stated principal amount of not to exceed $75,000,000 under the plan of financing for the portion of the Facilities located at 18080 80th Ave., Coopersville, Michigan 49404.

Each Project is owned by Brightmark RNG Holdings LLC, a joint venture partnership between the Company and Brightmark Fund Holdings LLC.

The Bonds will be limited obligations of the MSF, payable only from loan repayments to be made by the Company to the MSF and certain other security to be provided by the Company. The Bonds will not constitute an indebtedness of the MSF, the State of Michigan or any political subdivision thereof within the meaning of any constitutional or statutory provision and will not constitute or give rise to a charge against the general credit of the MSF or the credit or taxing power of the State of Michigan or any political subdivision thereof. The MSF has no taxing power.

The hearing shall provide the fullest opportunity for expression of opinion, for arguments on the merits and for introduction of documentary evidence pertaining to the proposed issuance of the Bonds. Written comments will be accepted by the MSF at the offices of the Michigan Economic Development Corporation located at 300 North Washington Square, Lansing, Michigan 48913, but must be received on or before the date and time of the hearing.

Matthew Casby
Michigan Strategic Fund
(517) 643-1864

Dated: October 8, 2024

 

Notice of Public Hearing Before the Michigan Strategic Fund

Issuance of limited obligation revenue bonds on behalf of BerQ RNG B Member, L.L.C.

The Michigan Strategic Fund (the “MSF”) will hold a public hearing at 10:00 a.m. on October 21, 2024, in accordance with Treasury Regulation §1.147(f)-1 and Revenue Procedure 2022-20, on the proposed issuance by the MSF of limited obligation revenue bonds (the “Bonds”) on behalf of BerQ RNG B Member, L.L.C., a Delaware limited liability company (the “Primary Borrower”), and each of Kalamazoo RNG Partners, L.L.C., a Delaware limited liability company, Isabella RNG Partners, L.L.C., a Delaware limited liability company, Monterey RNG Partners, L.L.C., a Delaware limited liability company, Elsie RNG Partners, L.L.C., a Delaware limited liability company, Woodcrest RNG Investor, LLC, a Delaware limited liability company, North Country RNG Investor, LLC, a Delaware limited liability company, East Branch RNG Investor, L.L.C., a Delaware limited liability company, LaSalle RNG Investor, L.L.C., a Delaware limited liability company, Brook and Scenic Partners, L.L.C., a Delaware limited liability company, and Peru RNG Investor, LLC, a Delaware limited liability company (collectively, the “Co-Borrowers”, and together with the Primary Borrower, collectively, the “Borrower”). The hearing can be accessed via the internet webinar link specified below or by dialing the phone number and entering the webinar ID specified below at 10:00 a.m. on October 21, 2024:

Webinar Link: https://michiganbusiness.zoom.us/j/84969185821 
Webinar ID: 849 6918 5821
Toll-Free Dial-in: (888) 788-0099

The MSF proposes to issue the Bonds in one or more series in an aggregate principal amount not to exceed Two Hundred Thirty-Five Million Dollars ($235,000,000). The proceeds of the Bonds will be used by the MSF to make one or more loans to the Borrower and used to finance (i) eligible costs of the construction, improvement and installation of certain solid waste disposal facilities, as defined in Section 142(a)(6) of the Internal Revenue Code of 1986, as amended, relating to four (4) dairy renewable natural gas projects to be located at (a) the Schaendorf Dairy, 2730 130th Ave., Monterey Township, Allegan County, Michigan (“Monterey-Schaendorf Project”), (b) the Green Meadow Farms Dairy, 9697 W. Riley Rd., Fairfield Township, Shiawassee County, Michigan (“Green Meadow Project”), (c) the Cow Pleasant Dairy, 5731 N. Winn Rd., Nottawa Township, Isabella County, Michigan (“Cow Pleasant Project”), and (d) the VDS Farms, 14461 S. 44th St., Wakeshma Township, Kalamazoo County, Michigan (“VDS Project”) (Monterey-Schaendorf Project, Green Meadow Project, Cow Pleasant Project and VDS Project are collectively the “Projects”); (ii) a deposit to a debt service reserve account for the Bonds; (iii) capitalized interest on the Bonds; and (iv) the costs of issuance of the Bonds.

The following companies will be directly or indirectly owned by the Primary Borrower for the purpose of owning certain assets financed with the proceeds of the Bonds: (i) Monterey RNG, L.L.C., a Delaware limited liability company (the “Monterey Project Company”), which will own the Monterey-Schaendorf Project; (ii) Elsie RNG, L.L.C., a Delaware limited liability company (the “Green Meadows Project Company”), which will own the Green Meadows Project; (iii) Isabella RNG, L.L.C., a Delaware limited liability company (the “Cow Pleasant Project Company”), which will own the Cow Pleasant Project; and (iv) Kalamazoo RNG, L.L.C., a Delaware limited liability company (“VDS Project Company”), which will own the VDS Project. The Monterey Project Company, the Green Meadows Project Company, the Cow Pleasant Project Company and the VDS Project Company are collectively the “Project Companies”. Each Project Company will own and operate its related Project.

The maximum stated principal amount of Bonds to be issued to finance each Project are as follows: (i) for the Monterey-Schaendorf Project, $65,000,000; (ii) for the Green Meadow Project, $50,000,000; (iii) for the Cow Pleasant Project, $55,000,000; and (iv) for the VDS Project, $65,000,000.

The Bonds will be limited obligations of the MSF, payable only from loan repayments to be made by the Borrower to the MSF and certain other security to be provided by the Borrower. The Bonds will not constitute an indebtedness of the MSF, the State of Michigan or any political subdivision thereof within the meaning of any constitutional or statutory provision and will not constitute or give rise to a charge against the general credit of the MSF or the credit or taxing power of the State of Michigan or any political subdivision thereof. The MSF has no taxing power. The hearing shall provide the fullest opportunity for expression of opinion, for arguments on the merits and for introduction of documentary evidence pertaining to the proposed issuance of the Bonds. Written comments will be accepted by the MSF at the offices of the Michigan Economic Development Corporation located at 300 North Washington Square, Lansing, Michigan 48913, but must be received on or before the date and time of the hearing.

Matthew Casby
Michigan Strategic Fund
(517) 643-1864

Dated: October 8, 2024

 

Notice of Public Hearing Before the Michigan Strategic Fund

Issuance of limited obligation revenue bonds on behalf of DTE Electric Company

The Michigan Strategic Fund (the “MSF”) will hold a public hearing by teleconference on April 24, 2023 at 10:00 a.m., prevailing Eastern Time, in accordance with Treasury Regulation §1.147(f)-1 and Revenue Procedure 2022-20, on the proposed issuance by the MSF of limited obligation revenue bonds (the “Bonds”) on behalf of DTE Electric Company (the “Company”). The MSF proposes to issue the Bonds in the aggregate principal amount of not to exceed One Hundred Ten Million Dollars ($110,000,000). The teleconference can be accessed by dialing the following toll-free number and entering the following meeting identification and passcode at 10:00 a.m. prevailing Eastern Time on April 24, 2023:

Toll-Free Number: 1-888-361-8488
Conference Identification: 890 806 062#

The proceeds of the Bonds will be used by MSF to make one or more loans to the Company. The Company will use the proceeds of the loan from the MSF, together with other available funds, to (i) pay the costs of acquiring, constructing, furnishing and equipping capital improvements for the following solid waste disposal facilities, as defined in Section 142(a)(6) of the Internal Revenue Code of 1986, as amended (collectively, the “Project”): (1) in an amount not to exceed $30,000,000, the treatment, handling and conversion of bottom ash located at the Company’s Monroe Power Plant at 3500 East Front Street, Monroe, MI 48161 (the “Monroe Power Plant”), (2) in an amount not to exceed $95,000,000, the equipment and improvements for the handling and relocation of bottom ash from the Monroe Power Plant to the Sibley Quarry Landfill Ash Disposal Facility located at 801 Fort Street, Trenton, MI 48183 (the “Sibley Quarry”) and related closure of the Sibley Quarry, and (3) in an amount not to exceed $15,000,000, the equipment and improvements for the handling and relocation of bottom ash from the St. Clair Power Plant to the Range Road Quarry Landfill Ash Disposal Facility located at 3600 Range Road, China Township, MI 48054 (the “Range Road Quarry”) and related closure of the Range Road Quarry; and (ii) pay the costs of issuing the Bonds. The Project will be owned and operated by the Company in its business of generating electric power for industrial, commercial, residential and other consumers.

The Bonds will be limited obligations of the MSF, payable only from loan repayments to be made by the Company to the MSF and certain other security to be provided by the Company. The Bonds will not constitute an indebtedness of the MSF, the State of Michigan or any political subdivision thereof within the meaning of any constitutional or statutory provision and will not constitute or give rise to a charge against the general credit of the MSF or the credit or taxing power of the State of Michigan or any political subdivision thereof. The MSF has no taxing power.

The hearing shall provide the fullest opportunity for expression of opinion, for arguments on the merits and for introduction of documentary evidence pertaining to the proposed issuance of the Bonds. Written comments will be accepted by the MSF at the offices of the Michigan Economic Development Corporation located at 300 North Washington Square, Lansing, Michigan 48913, but must be received on or before the date and time of the hearing.

Valerie Hoag
Michigan Strategic Fund
(517) 719-3343

Dated: April 14, 2023

 

Notice of Public Hearing Before the Michigan Strategic Fund

On the proposed reissuance of limited obligation revenue refunding bonds on behalf of YMCA of Metropolitan Detroit

The Michigan Strategic Fund (the “MSF”) will hold a public hearing by teleconference at 9:00 a.m., prevailing Eastern Time, on February 21, 2023, in accordance with Treasury Regulation §1.147(f)-1 and Revenue Procedure 2022-20, on the proposed reissuance, for federal tax purposes, of the MSF’s outstanding Variable Rate Limited Obligation Revenue Refunding Bonds (YMCA of Metropolitan Detroit Project), Series 2014 (the “Reissued Bonds”) in the aggregate principal amount of not to exceed Fourteen Million Dollars ($14,000,000). The Reissued Bonds were originally issued on behalf of the Young Men’s Christian Association of Metropolitan Detroit, Michigan (the “Borrower”) in the aggregate principal amount of $28,135,000 (the “2014 Bonds”), and reissued, for federal tax purposes, on June 1, 2021. The teleconference can be accessed by dialing the following toll-free number and entering the following meeting identification and passcode at 9:00 a.m. on February 21, 2023:

Toll-Free Number: 1-888-361-8488
Conference Identification: 565 543 984#

The proceeds of the 2014 Bonds were used by the Borrower to: (i) refund the MSF’s outstanding Variable Rate Demand Limited Obligation Revenue Bonds (YMCA of Metropolitan Detroit Project), Series 2001, dated May 1, 2001, originally issued in the aggregate principal amount of $15,000,000 (the “2001 Bonds”); (ii) refund the MSF’s outstanding Variable Rate Demand Limited Obligation Revenue Bonds (YMCA of Metropolitan Detroit Project), Series 2003, dated November 1, 2003, originally issued in the aggregate principal amount of $20,000,000 (the “2003 Bonds”); and (iii) pay the costs incidental to the issuance of the 2014 Bonds and the refunding.

The proceeds of the 2001 Bonds were used by the Borrower to: (i) in an amount not exceeding $6,000,000, finance the acquisition of approximately 22 acres of land and the construction on the land of an approximately 32,000 square foot facility and related site improvements, including parking areas, athletic fields and camping facilities, and the acquisition and installation of related equipment, located at 300 Family Drive, Village of Milford, Oakland County, Michigan; (ii) in an amount not exceeding $9,000,000, finance the acquisition of approximately 8.5 acres of land and the construction on the land of an approximately 45,000 square foot facility and related site improvements, including parking areas, and the acquisition and installation of related equipment, located at 3378 E. Walton Boulevard, City of Auburn Hills, Oakland County, Michigan; (iii) pay capitalized interest on the 2001 Bonds; and (iv) pay costs incidental to the issuance of the 2001 Bonds.

The proceeds of the 2003 Bonds were used by the Borrower to: (i) in an amount not exceeding $20,000,000, finance the acquisition of approximately 1.43 acres of land and the construction on the land of an approximately 100,000 square foot facility and related site improvements, including parking areas, and the acquisition and installation of equipment, fixtures and furnishings, located at 1401 Broadway, City of Detroit, Wayne County, Michigan; (ii) pay capitalized interest on the 2003 Bonds; and (iii) pay costs incidental to the issuance of the 2003 Bonds.

All of the above-described facilities and improvements are owned and operated by the Borrower in furtherance of its mission of building “strong kids, strong families and strong communities” through a wide variety of educational, recreational, social and health programs and services.

The Reissued Bonds are limited obligations of the MSF, payable only from loan repayments to be made by the Borrower to the MSF and certain other security to be provided by the Borrower. The Reissued Bonds do not constitute an indebtedness of the MSF, the State of Michigan or any political subdivision thereof within the meaning of any constitutional or statutory provision and do not constitute or give rise to a charge against the general credit of the MSF or the credit or taxing power of the State of Michigan or any political subdivision thereof. The MSF has no taxing power. The hearing shall provide the fullest opportunity for expression of opinion, for arguments on the merits and for introduction of documentary evidence pertaining to the proposed reissuance of the Reissued Bonds. Written comments will be accepted by the MSF at the offices of the Michigan Economic Development Corporation located at 300 North Washington Square, Lansing, Michigan 48913, but must be received on or before the date and time of the hearing.

 

Valerie Hoag
Michigan Strategic Fund
(517) 719-3343

Dated: February 9, 2023

 

Notice of Public Hearing Before the Michigan Strategic Fund

Issuance of limited obligation revenue bonds on behalf of William Davidson Foundation

The Michigan Strategic Fund (the “MSF”) will hold a public hearing by teleconference at 10:30 a.m., prevailing Eastern Time, on January 23, 2023, in accordance with Treasury Regulation §1.147(f)-1 and Revenue Procedure 2022-20, on the proposed issuance by the MSF of limited obligation revenue bonds (the “Bonds”) on behalf of William Davidson Foundation (the “Foundation”). The MSF proposes to issue the Bonds in the aggregate principal amount of not to exceed Sixty Million Dollars ($60,000,000). The teleconference can be accessed by dialing the following toll-free number and entering the following meeting identification and passcode at 10:30 a.m. on January 23, 2023:

Toll-Free Number: 1-888-361-8488
Conference Identification: 277 876 519#

The proceeds of the Bonds will be used by MSF to make one or more loans to the Foundation. The Foundation will use the proceeds of the loan from the MSF, together with other available funds, to (i) pay the costs of acquiring, constructing, furnishing and equipping a new approximately 35,000 square foot headquarters facility on approximately 4.3 acres of real property located at 37357 Woodward Avenue, Bloomfield Hills, Michigan 48304 (the “Project”) and (ii) pay the costs of issuing the Bonds. The Project will be owned and operated by the Foundation, a Delaware non-stock, 501(c)(3) corporation.

The Bonds will be limited obligations of the MSF, payable only from loan repayments to be made by the Foundation to the MSF and certain other security to be provided by the Foundation. The Bonds will not constitute an indebtedness of the MSF, the State of Michigan or any political subdivision thereof within the meaning of any constitutional or statutory provision and will not constitute or give rise to a charge against the general credit of the MSF or the credit or taxing power of the State of Michigan or any political subdivision thereof. The MSF has no taxing power. The hearing shall provide the fullest opportunity for expression of opinion, for arguments on the merits and for introduction of documentary evidence pertaining to the proposed issuance of the Bonds. Written comments will be accepted by the MSF at the offices of the Michigan Economic Development Corporation located at 300 North Washington Square, Lansing, Michigan 48913, but must be received on or before the date and time of the hearing.

Valerie Hoag
Michigan Strategic Fund
(517) 719-3343

Dated: January 10, 2023