Notice of Public Hearing
Not Exceeding $2,000,000,000
Louisiana Public Facilities Authority
Senior Lien Revenue Bonds
(I-10 Calcasieu River Bridge Public-Private Partnership Project)
Notice is Hereby Given that the Louisiana Public Facilities Authority (the “Authority”) will hold a public hearing on September 12, 2023, at Twelve o’clock (12:00) P.M. at the offices of the Authority, 2237 South Acadian Thruway, Suite 650, Baton Rouge, Louisiana, with respect to the captioned revenue bonds (the “Bonds”). The Bonds are proposed to be issued by the Authority pursuant to the provisions of the Louisiana Public Trust Act (La. R.S. 9:2341-2347) and Sections 142(a)(15) and 142(m) of the Internal Revenue Code of 1986, as amended, as private activity revenue bonds, in one or more series pursuant to a plan of finance in an aggregate principal amount not to exceed $2,000,000,000. The proceeds of the Bonds are to be loaned by the Authority to Calcasieu Bridge Partners LLC, a Delaware limited liability company registered to do business in the state of Louisiana (the “Developer”), which is indirectly owned by Plenary Americas US Holdings, Inc., a Delaware corporation; Sacyr Infrastructure USA LLC, a Delaware limited liability company; and Acciona Concesiones SL, a Spanish company. The Developer will use the proceeds of the Bonds for a plan of finance that includes: (i) financing certain costs of designing, financing and constructing a replacement I-10 Calcasieu River Bridge in Lake Charles, Louisiana, (ii) funding one or more reserve funds, and (iii) paying issuance costs associated therewith (collectively, the “Project”). The Project will be owned by and will be located on land owned by the State of Louisiana in Lake Charles, Louisiana, on Interstate 10 (I-10) from the I-10/I-210 western interchange to east of the I-10/Ryan Street exit ramp, as more particularly shown in the map set forth below.
The proceeds of the Bonds will be loaned to the Developer pursuant to the terms of a Loan Agreement, by and between the Authority and the Developer. The Project will be developed and constructed by the Developer, and the Developer will be responsible for certain operation, management, maintenance and repair responsibilities of the Project.
The Authority shall conduct the public hearing for the purpose of receiving comments on and hearing any objections (verbal or written) to the proposed issuance of the Bonds. All interested parties are invited to attend such public hearing to express their views. Questions or requests for additional information may be directed to Foley & Judell, L.L.P., Attorneys and Counsellors at Law, One Canal Place, 365 Canal Street, Suite 2600, New Orleans, Louisiana 70130 (504) 568-1249.
Persons who intend to appear at the hearing and express their view are invited to contact Ms. Patricia A. Dubroc, President and Chief Executive Officer of the Authority, at the Authority’s offices, either in writing or by telephone (225) 923-0020, in advance of the hearing. Any interested persons unable to attend the hearing may submit their views in writing to Ms. Dubroc prior to the date scheduled for the hearing. The location and time of the hearing may be changed or an additional hearing will be scheduled if requested to do so in written requests submitted to Ms. Dubroc prior to the aforementioned date of the hearing by a significant number of interested persons.
The Bonds will be secured solely by payments made by the Developer, will not be payable from any other revenue of the Authority or the State of Louisiana, and will not constitute an indebtedness of the Authority or the State of Louisiana, within the meaning of any constitutional or statutory limitation of indebtedness.
This notice is published and the aforementioned public hearing is to be held in satisfaction of the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, regarding the public approval prerequisite to the exclusion from gross income for federal income tax purposes of the interest on the Bonds.
Louisiana Public Facilities Authority
August 30, 2023