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Council closes public hearing on up to $16M in revenue bonds for Aurora University
Summary
The council opened and then closed a public hearing on issuing up to $16 million in adjustable-rate demand economic development revenue bonds for Aurora University’s Learning Commons; public notice was published July 11 and July 15.
The Aurora City Council held a public hearing on July 22 regarding the proposed issuance of adjustable-rate demand economic development revenue bonds in an aggregate principal amount not to exceed $16,000,000 (agenda item 250,577). Mayor John Lesh described the project scope: Aurora University intends to use proceeds to finance a three-story, 45,000-square-foot Learning Commons that will house the library, career services, study rooms, a café, a technology hub, archives and a corporate lounge, as well as related campus improvements.
The public notice for the hearing was published on the city website (July 11) and in the Aurora Beacon-News (July 15). After opening and soliciting comments, a councilor moved to close the hearing; the clerk recorded a roll call of 12 yes, 0 no and the hearing was adjourned at 6:22 p.m.
Council members did not take a final vote to authorize bond issuance during the hearing; the purpose of the session was to receive public input and preserve the hearing record required by the Internal Revenue Code provisions cited by the administration.
