NOTICE OF PUBLIC HEARING
Under Internal Revenue Code Section 147(f)
NOTICE IS HEREBY GIVEN that a public hearing will be held before a hearing officer of The Industrial Development Authority of the City of Glendale, Arizona (the “Authority”) on Monday, April 27, 2026, at 3:45 p.m. or as soon thereafter as the matter can be heard, in the Board Room of Midwestern University, on the Glendale Campus, located at 19555 North 59th Avenue, Glendale, Arizona.
The public hearing is required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), in connection with a plan by the Authority to issue its student loan program revenue bonds, in one or more series and in an aggregate principal amount not to exceed $15,000,000 (collectively, the “Bonds”). The proceeds of the Bonds will be loaned to the Midwestern University Foundation, an Illinois not-for-profit corporation (the “Foundation”), to provide the Foundation with the funds necessary to (i) finance, refinance or reimburse student loans made or to be made by the Foundation, (ii) finance a portion of the interest on the Bonds, if deemed necessary or desirable by the Foundation, (iii) finance one or more debt service reserve funds for the Bonds, if deemed necessary or desirable by the Foundation, and (iv) pay costs relating to the issuance of the Bonds, if deemed necessary or desirable by the Foundation. The Bonds will be issued as qualified student loan bonds under Section 144(b)(1)(B) of the Code. The loans in the program will be made under a State supplemental loan program and will provide funds only for residents of the State of Arizona attending Midwestern University at either its Glendale, Arizona campus or its Downers Grove, Illinois campus, and for residents of any state attending Midwestern University at its Glendale, Arizona campus.
Amounts payable on the Bonds will not constitute an indebtedness or liability of the State of Arizona or any agency or political subdivision thereof, including the City of Glendale, Arizona, or be a charge against their general credit or their taxing powers, but shall be payable solely from other sources established in connection with issuance of the Bonds.
At the time and place set for the public hearing, interested individuals will be given the opportunity to express their views, both orally and in writing, on the proposed issuance of the Bonds. Written comments may be submitted until the time of the hearing to: The Industrial Development Authority of the City of Glendale, Arizona c/o Squire Patton Boggs (US) LLP, Attention: Brigitte Finley Green, 2325 East Camelback Road, Suite 700, Phoenix, Arizona 85016, until 5:00 p.m. on Friday, April 24, 2026.
Posted: April 17, 2026
The Industrial Development Authority Of the City of Glendale, Arizona