Notice of public hearing for the proposed issuance of tax-exempt bonds

NOTICE OF PUBLIC HEARING BEFORE THE ASSISTANT VICE PRESIDENT, TREASURY OF WAYNE STATE UNIVERSITY REGARDING THE PROPOSED ISSUANCE BY THE BOARD OF GOVERNORS OF WAYNE STATE UNIVERSITY OF TAX-EXEMPT BONDS

The undersigned, acting for the Board of Governors of Wayne State University (the “Issuer”), will hold a public hearing by teleconference at 2:00 p.m. prevailing Eastern Time on April 9, 2025, in accordance with Treasury Regulation §1.147(f)-1 and Revenue Procedure 2022-20, in connection with the proposed issuance by the Issuer, pursuant to a plan of finance, of one or more series of tax-exempt bonds in the aggregate principal amount of not to exceed One Hundred Fifty Million Dollars ($150,000,000) (the “Bonds”).  The proceeds of the Bonds will be used by the Issuer to finance all or a portion of the costs of the acquisition, construction, furnishing and equipping of a new health sciences research and education building, including instructional spaces, lab facilities, offices, and education and outreach departments (the “Project”).  The Project will be located at 545 E. Canfield, Detroit, Michigan 48202.  Additional proceeds of the Bonds may be used to pay capitalized interest on the Bonds and to pay the costs of issuance of the Bonds.

The teleconference can be accessed by dialing the following toll-free number and entering the following conference identification number at 2:00 p.m. prevailing Eastern Time on April 9, 2025:

Toll-Free Number: 1-888-361-8488
Conference Identification: 686543805

The Project will be owned and operated by the Issuer.  Portions of the Project may be leased to or otherwise used from time to time by organizations that are qualified under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, for collaborative research or other exempt purposes. 

The Bonds will be payable solely from and secured by a pledge of General Revenues of the Issuer.

The public hearing with respect to which this notice is given will provide a reasonable opportunity for expression of opinion, argument on the merits and introduction of documentary evidence pertaining to the proposed issuance of the Bonds.  Written comments will be accepted by the undersigned at Wayne State University, 5700 Cass Avenue, Suite 4900, Detroit, Michigan 48202, but must be received on or before the time and date of the hearing.

BOARD OF GOVERNORS OF
WAYNE STATE UNIVERSITY

By:      Alana Askew
Assistant Vice President, Treasury
Dated: April 1, 2025