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Proposed Financing Memorandum
By Board Member Office of the President
March 17, 2022
ON THE PROPOSED FINANCING BY NORTH BABYLON VOLUNTEER FIRE COMPANY INC.
NOTICE IS HEREBY GIVEN the North Babylon Volunteer Fire Company Inc, (the Issuer), will allow for public comment through March 24, 2022, at 6pm., via email at [email protected] or via phone at 631-540-0818, for the purpose of satisfying the public hearing requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, on a proposal the Issuer enter into an agreement to finance certain equipment. The equipment to be financed consists of one Fire Rescue Truck and will be maintained at the fire station in North Babylon, New York.
To finance the costs of such equipment and to pay costs and expenses incidental to the financing, the Issuer proposes to enter into a loan agreement with a maximum aggregate principal amount not to exceed $1,192,139.00. The rental payments due pursuant to the loan agreement will be secured by a security interest in the equipment.
All persons interested may be heard throughout the public comment range stated above, or may file written comments with the North Babylon Volunteer Fire Company Inc. prior to the date of hearing set forth heretofore.
