Notice of Public Hearing – Pascagoula Portfolio Project



NOTICE IS HEREBY GIVEN that pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended, and Treasury Regulation 5f.103-2(f)(2) and other applicable laws and Treasury Regulations, a public hearing will be held by the Mississippi Home Corporation (the “Issuer”)  on April 13, 2021, at 9:30 a.m., Mississippi time, at its offices located at 735 Riverside Drive, Jackson, Mississippi 39202, for the purpose of providing a reasonable opportunity for interested individuals to express their views, either orally or in writing, on the proposed issuance and sale by the Issuer of its multifamily housing revenue bonds in one or more tax-exempt and/or taxable series in an amount not to exceed $70,000,000 (the “Bonds”), in order to finance the Project hereinafter described.

The Issuer proposes to issue the Bonds for the purpose of financing the acquisition, construction, installation and equipping of a combined 670 unit multi-family housing development consisting of six (6) separate multi-family housing developments more commonly known as (a) Azalea Park located at 3015 Eden Street, Pascagoula MS 39581, (b) Autumn Trace located at 3000 Brazil Street, Pascagoula MS 39581, (c) Bandywood Apartments located at 5111 Orchard Road, Pascagoula MS 39581, (d) Granada Square Apartments located at 3416 Chicot Street, Pascagoula MS 39581, (e) Regency Woods Apartments located at 4800 Long Avenue, Pascagoula MS 39581 and (f) Willow Creek Apartments located at 2925 Eden Street, Pascagoula MS 39581, together with functionally related and subordinate facilities and property (the “Project”).  The Project will be owned by Azalea Park Apartments 2021 LLC, Autumn Trace Apartments 2021 LLC, Bandywood Apartments 2021 LLC, Granada Square Apartments 2021 LLC, Regency Woods Apartments 2021 LLC and Willow Creek Apartments 2021, LLC, respectively, each a Delaware limited liability company and each wholly owned by Patriot Services Group, Inc., a Florida nonprofit corporation (together, the “Company”).  The Bonds proposed to be issued shall be payable solely from revenues generated by the Company from the operation of the Project pursuant to Section 43-33-701 et seq. of the Mississippi Code of 1972, as amended, and shall never constitute an indebtedness of the Issuer within the meaning of any constitutional or statutory debt limitation or restriction.

More specific information concerning the Project is available for inspection at the office of the Issuer at 735 Riverside Drive, Jackson, Mississippi 39202.

Interested persons will have a reasonable opportunity to express their views, both orally and in written form, on the proposed issue of Bonds and on the location and nature of the proposed multifamily housing facility.  Neither the full faith, credit nor taxing powers of the Issuer, the State of Mississippi or any political subdivision thereof will be pledged or encumbered in any way by the Bonds.

Dated this 22nd day of March, 2021.



/s/ Scott Spivey                

Executive Director


Publish: March 26, 2021


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