MONROE COUNTY, FLORIDA

NOTICE OF PUBLIC HEARING

WITH RESPECT TO

NOT TO EXCEED $40,000,000 OF

PUBLIC FINANCE AUTHORITY

SPECIAL FACILITIES REVENUE BONDS (MILLION AIR THREE LLC

GENERAL AVIATION FACILITIES

PROJECT), SERIES 2024

ISSUED TO FINANCE FACILITIES

AT FLORIDA KEYS MARATHON

INTERNATIONAL AIRPORT

On July 17, 2024, a public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the Code), will be held by the Monroe County, Florida (the County) with respect to the portion of the proposed issuance by the Public Finance Authority, a joint powers commission created under Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes (the Authority), of its Special Facilities Revenue Bonds (Million Air Three LLC General Aviation Facilities Project), Series 2024 in one or more series (the Bonds) to be used to finance the facilities described below at the Florida Keys Marathon International Airport (the Airport). Such portion of the Bonds (the MTH FBO Bonds) are expected to be issued in an aggregate principal amount not to exceed $40,000,000. The hearing will commence at 9:00 a.m., or as soon thereafter as the matter can be heard, and will be held at the Marathon Government Center, 2798 Overseas Highway, Marathon, Florida 33050 .

The MTH FBO Bonds are expected to be issued as exempt facility bonds for airports pursuant to section 142(a)(1) of the Internal Revenue Code of 1986, as amended and Section66.0304 of the Wisconsin Statutes, as amended. The proceeds from the sale of the MTH FBO Bonds will be loaned to Marathon Aviation Associates LLC , a Florida limited liability company (the Borrower), and will be used to (a) finance the acquisition, construction and/or equipping of certain fixed base operator airport facilities (the Facilities;), (b) pay the portion of the issuance costs of the Bonds which is allocable to the MTH FBO Bonds, (d) pay capitalized interest with respect to the MTH FBO Bonds and (d) fund the portion of the debt service reserve fund for the Bonds which is allocable to the MTH FBO Bonds (collectively, the Project). The Facilities will be owned by the County and will be used and operated by the Borrower in its business of providing services to general aviation aircraft operators. The Facilities will be located in part on a 5.75-acre site with a street address of 8800 Overseas Highway (US Route 1), Marathon, Florida and in remaining part on a 8.61-acre site with a street address of 9850 Overseas Highway, Marathon, Florida. All of Facilities will be located at the Airport, which has street address of 9400 Overseas Highway in the City of Marathon, Monroe County, Florida and which occupies a 197 acre site along Overseas Highway between 72nd Street and 106th Street.

The Bonds will be special limited obligations of the Authority payable solely from the loan repayments to be made by the Borrower (and by the borrower of the proceeds of the portion of the Bonds other than the MTH FBO Bonds) to the Authority, and certain funds and accounts established by the trust indenture for the Bonds. The Bonds will not be obligations of the County.

The hearing will provide a reasonable opportunity to be heard for persons wishing to express their views on the merits of the Project, the nature and location of the Facilities, the issuance of the MTH FBO Bonds or related matters. Oral comments will be limited to 3 minutes per speaker. A person wishing to speak at the hearing will be asked to provide his or her name, address and the person(s) or entity(ies) he or she represents, if any, prior to speaking. Written comments will be accepted by the Monroe County, Department of Airports, 3491 South Roosevelt Street, Key West, Florida 33040, Attention: Richard Strickland, but must be received by the close of the hearing. Any persons needing special accommodations under the Americans With Disabilities Act should call the County Administrators Office by phoning 305-292-4441 not later than 24 hours prior to the time and date of the hearing.

06/22/24 - KWC

420155 3931815