CITY OF WILMINGTON, DELAWARE

NOTICE OF TEFRA PUBLIC HEARING ON JUNE 4, 2024

The City of Wilmington (the “City”) will hold a public hearing at 9:30 a.m. on June 4, 2024, in the offices of Saul Ewing LLP, 1201 North Market Street, Suite 2300, Wilmington, Delaware 19801, to discuss a plan of finance of the City for the issuance of Revenue Bonds, in one or more series, at the same or different times, as a plan of finance (the “Plan of Finance”) in the aggregate principal amount not to exceed $10,000,000 (collectively, the “Bonds”) for the benefit of the School (defined herein).

Principal User: Salesianum School Inc., a Delaware non-stock corporation (the “School”).

Project Locations: 1801 North Broom Street, Wilmington, DE 19802 (the “School Campus”); Abessinio Stadium, 1 St. Rocco Way, Wilmington, DE 19802 (the “Abessinio Stadium Campus”).

Description of Plan of Finance: The Plan of Finance shall consist of the following:

1. to provide qualified 501(c)(3) bonds for the School pursuant to Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), in an aggregate principal amount not to exceed $8,000,000, to finance a portion of a  capital project consisting of (a) the construction of athletic fields, including a baseball stadium, at the School Campus, (b) the construction of six (6) new tennis courts with related parking at the Abessinio Stadium Campus, and (c) the payment of allowable issuance costs of such bonds. The financing for each component will not exceed $8,000,000 individually, or $8,000,000 in the aggregate; and
   
   
2. to provide qualified 501(c)(3) bonds for the School pursuant to Section 145 of the Code in an aggregate principal amount not to exceed $2,000,000 for (a) the renovations to and retrofitting of the first floor of a residence for members of the Oblates of St. Francis de Sales’ religious order at the School Campus for use by the School as administrative offices and a faculty and staff cafeteria, and (b) the payment of allowable issuance costs of such bonds.

Maximum Principal Amount of Bonds under the Plan of Finance: $10,000,000.

The public hearing will be conducted in a manner that provides a reasonable opportunity for interested individuals to express their views, orally or in writing, on the proposed Plan of Finance, the proposed issuance of Bonds, and the location and nature of the proposed project or projects to be financed. Written comments should be delivered at the public hearing or mailed to Silvia A. Shin, Esq., Saul Ewing LLP, 1201 North Market Street, Suite 2300, Wilmington, Delaware 19801, for receipt not later than the date and time of the hearing.  Anyone requiring an accommodation consistent with the Americans with Disabilities Act should contact Saul Ewing LLP at (302) 421-6800 at least two (2) business days in advance of the hearing.

The Bonds will be special limited obligations of the City payable from certain revenues to be received by the City from the School. This notice is published in accordance with, and the public hearing is being held by the City as required by Section 147(f) of the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder.