FAME - Finance Authority of Maine
10/06/2025 | Press release | Distributed by Public on 10/06/2025 15:27
Notice of Public Hearing – Saddleback
Pursuant to Title 10, §1043 of the Maine Revised Statutes and 26 USCA §147(f), the Finance Authority of Maine (the "Authority") will hold a public hearing at 1:00 p.m. on October 14, 2025, at 5 Community Drive, Augusta, Maine on an application for a Certificate of Approval for issuance of Revenue Obligation Securities to finance the Project described below.
ISSUER:
INITIAL OWNER/
USER OF PROJECT:
PROJECT LOCATION:
DESCRIPTION OF PROJECT:
Finance Authority of Maine
Saddleback Mountain Foundation
976 Saddleback Mountain Rd, Sandy River Plantation, ME 04970
The bonds will be qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended, issued to finance the acquisition of the Saddleback Mountain Ski Resort and funding of additional future capital improvements including but not limited to chair lift improvements, lodging / restaurant improvements, snow-making equipment, road and utility improvements and other miscellaneous capital improvements at the Resort, plus cost of issuance.
MAXIMUM AMOUNT OF REVENUE OBLIGATION SECURITIES TO BE ISSUED BY THE AUTHORITY TO PROVIDE FINANCING FOR THE PROJECT: $30,000,000
Prior to issuing a Certificate of Approval, the Authority must make certain findings, including a finding that the Project will not result in substantial detriment to existing industry. Any person or competitor may attend the hearing and will have an opportunity to make a brief statement regarding the Project or the financing. Comments are specifically requested on those criteria set forth in Title 10, §1043(2) of the Maine Revised Statutes, as amended, including public benefit and whether the Project could result in a substantial detriment to existing business. Anyone planning to attend the hearing or to make a statement at the hearing is requested to notify the Authority and to send a written summary of the proposed comments no later than October 12, 2025, to:
Finance Authority of MaineChristopher H. Roney, EsqP.O. Box 9495 Community DriveAugusta, Maine 04332-0949(207) [email protected]
The hearing may be continued to a subsequent date and time without further notice other than to those who have entered objections or requests for notification of the hearing.
FAME - Finance Authority of Maine published this content on October 06, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 06, 2025 at 21:27 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]