NOTICE OF PUBLIC HEARING

Public Notice is hereby given that a public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), will be held on Tuesday, November 26, 2024, at 10:00 a.m. in the Diamond Head Room at Kahala Nui, located at 4389 Malia Street, Honolulu, Hawaii 96821, for the Department of Budget and Finance of the State of Hawaii (the “Department”), regarding the issuance pursuant to section 145 of the Code as qualified section 501(c)(3) bonds, of the Public Finance Authority Revenue Bonds (Kahala Nui Project), Series 2024 (the “Bonds”), by the Public Finance Authority, a joint powers commission organized and existing under Sections 66.0301, 66.0303, and 66.0304 of the Wisconsin Statutes, as amended, in an aggregate principal amount not to exceed $140,000,000. The proceeds of the Bonds will be loaned to Kahala Senior Living Community, Inc., a Hawaii nonprofit corporation (the “Corporation”), to be used, together with certain other funds, to provide for a plan of finance to (a) refinance the currently outstanding $40,000,000 principal amount of the Department’s Special Purpose Senior Living Revenue Refunding Bonds, Series 2022 (Kahala Nui) (the “Prior Bonds”), the proceeds of which were applied in a series of refundings to refinance the costs of acquiring, constructing and equipping a continuing care retirement community known as Kahala Nui (the “Facilities”) consisting of approximately 270 independent living apartments, 62 assisted living units (including 22 memory support living units), 60 skilled nursing beds, a parking structure and related common areas; (b) fund the acquisition of the 6.6 acres of land upon which the Project is situated; (c) pay for certain capital improvements to the Facilities, including common area improvements; and (d) pay costs of issuance of the Bonds (the “Project”). All improvements financed and/or refinanced or by the Bonds are or will be owned and operated by the Corporation and are or will be located at 4389 Malia Street, Honolulu, Hawaii 96821.

All interested parties are invited to attend the hearing and to express their views relative to the proposed financing either orally or in writing. Written comments should be sent via email to amorabito@kahalanui.com; please include “Kahala Nui TEFRA Hearing” in the subject line. The public hearing will be simultaneously accessible by any interested persons telephonically on Tuesday, November 26, 2024, at 10:00 a.m., by dialing into the toll-free telephone conference line number: 1-872-813-1041and entering access code: 992023563# or via Teams, by using the meeting ID number: 234 209 679 84 and passcode uPPhQx.

NOTICE DATED: November 18, 2024
(SA1474681 11/18/24)