07/19/2026
A public hearing regarding the approval of tax-exempt bond financing for the purchase of Iroquois Springs Camp and adjacent lands in Rock Hill by Congregation Machna Shalva will take place on Tuesday, July 21, 2026, at 7:00 p.m. at the Town of Thompson Town Hall (located near the Home Depot in Monticello). There is an option to participate via Zoom https://us02web.zoom.us/j/83032452642 but we strongly encourage residents to attend in person, in part because the Zoom option has been unreliable.
The public hearing is about whether the Town of Thompson should approve tax-exempt bond financing issued by Wisconsin’s Public Finance Authority (PFA) to finance Congregation Machna Shalva's purchase of Iroquois Springs Camp and adjacent lands. Although the bonds would be issued by a Wisconsin conduit financing authority rather than a New York issuer, federal law requires approval from the Town of Thompson before tax-exempt financing can proceed.
The Town of Thompson has the authority to decline approval of tax-exempt financing if it is in the community's best interest. The town must believe that the buyers clearly demonstrate the project will provide a public benefit and is consistent with the community's long-term planning, environmental, and economic development goals.
In addition, it’s always best for our community if tax-exempt financing is issued within New York State. New York public finance agencies conduct their own review of nonprofit financing applications and are familiar with New York State's legal, regulatory, and public policy framework.
We encourage all residents to attend the hearing and make their voices heard.
See the legal notice below.
Sincerely,
Steering Committee
The Lake Communities Alliance of Rock Hill, NY
LEGAL NOTICE
NOTICE OF PUBLIC HEARING
WITH RESPECT TO THE ISSUANCE OF
REVENUE OBLIGATIONS BY THE
PUBLIC FINANCE AUTHORITY
Notice is hereby given that at 7:00 p.m. on Tuesday, July 21, 2026, a public
hearing, as required by Section 147(f) of the Internal Revenue Code of
1986, as amended (the “Code”), will be held at the Regular Meeting of the
Board of the Town of Thompson, New York, on behalf of the Public Finance
Authority, a commission organized under and pursuant to the provisions
of Sections 66.0301, 66.0303, and 66.0304 of the Wisconsin Statutes,
As amended (the “Authority”), with respect to the proposed issuance by the
Authority of one or more series of qualified 501(c)(3) bonds (as defined
in Section 145 of the Code) (the “Bonds”) in an aggregate amount not to
exceed $15,000,000. The hearing will be held in person at Town Hall, 4052
State Route 42, Monticello, NY 12701.
The Bonds are expected to be issued pursuant to Section 66.0304 of the
Wisconsin Statutes, as amended, and the proceeds from the sale of the
Bonds will be loaned to Congregation Machna Shalva (together with any
affiliates, including Yeshiva Ketana of Bobov 45, Inc., 5815 CMS LLC, 1315
CMS LLC, 1462 CMS LLC and 4018 CMS LLC, the “Borrowers”) and used
to finance: (a) the acquisition by one of the Borrowers of various facilities
comprising Camp Iroquois Springs, with a main address of 66 Bowers
Road, located in the Hamlet of Rock Hill, Town of Thompson, Sullivan
County, New York, and adjacent and proximate sites (collectively, the
“Facilities”); and (b) capitalized interest and costs incurred in connection
with the issuance of the Bonds (collectively, the “Project”). The Facilities
will be owned and operated by one or more of the Borrowers for
educational and cultural purposes.
The Bonds will be special, limited obligations of the Authority payable
solely from the loan repayments to be made by the Borrowers to the
Authority, and certain funds and accounts established by the loan and
security agreement for the Bonds. The Bonds will not be a debt or
liability of the Town of Thompson.
Interested persons wishing to express their views on the Project and the
proposed issuance of qualified 501(c)(3) bonds to finance the Project
will be given the opportunity to do so at the public hearing. The hearing
will provide a reasonable opportunity to be heard for persons wishing to
express their views on the merits of the Project, its location, the issuance
of the Bonds, or related matters.
Dated: July 07, 2026
By Order of the Town Board,
Town of Thompson
144771
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