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West Virginia Economic Development Authority
Date/Time: 11/19/2020 -- 9:00 AM
Location:
180 Association Drive, Charleston, West Virginia 25311 
Purpose: NOTICE TO RESIDENTS OF THE STATE OF WEST VIRGINIA

AND OTHER PERSONS INTERESTED - ISSUANCE BY

THE WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY

OF ITS SOLID WASTE DISPOSAL FACILITY REVENUE BONDS

(ARCH RESOURCES PROJECT), SERIES 2020B

NOTICE IS HEREBY GIVEN, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended, that THE WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY (the Authority) contemplates the adoption of a bond authorizing resolution, at a regular meeting to be held on November 19, 2020, at 10:00 a.m., prevailing time, to consider for approval the issuance of its Solid Waste Disposal Facility Revenue Bonds (Arch Resources, Inc. Project), Series 2020B in an amount not to exceed $44,986,062.50 (the 2020B Bonds), pursuant to Chapter 31, Article 15 of the West Virginia Code of 1931, as amended, to assist Arch Resources, Inc., a Delaware corporation (the Corporation), by issuing its exempt facility bonds for solid waste disposal facilities as defined in Section 142 of the Internal Revenue Code of 1986, as amended, to finance the costs of the acquisition, construction, reconstruction, and equipping of solid waste disposal facilities which will be located in Barbour County, West Virginia for a new world-class longwall mine that will produce an estimated three million tons of premium, High-Vol A coking coal annually for sale primarily into the growing global marketplace, to pay certain capitalized interest on the 2020B Bonds and to pay certain costs of issuing the 2020B Bonds (collectively, the Project). The location of the Project is generally at 21550 Barbour County Highway, Philippi, WV 24616. The geographic location of the Project is at Corders Crossing located at the intersection of U.S. Route 119/250 and West Virginia Route 76, Barbour County, West Virginia. Wolf Run Mining Company LLC, an indirect subsidiary of the Corporation, will be the owner and the principal user of the Project. The 2020B Bonds shall be titled the West Virginia Economic Development Authority, Solid Waste Disposal Facility Revenue Bonds (Arch Resources, Inc. Project), Series 2020B. The Corporation has engaged Citigroup Global Markets, Inc. to act as underwriter with respect to the 2020B Bonds. Subject to the approval of the Authority, the Corporation, unless the Authority makes a carryover election pursuant to Section 146(f) of the Code, expects the 2020B Bonds to be marketed by December 31, 2020. In the event a carryover election is made by the Authority pursuant to Section 146(f), the Corporation expects the 2020B Bonds to be marketed by March 31, 2021.

The Authority shall have no financial obligation or liability of any kind in connection with payment of the principal of or interest on the 2020B Bonds. The 2020B Bonds shall not constitute an indebtedness of the Authority, but shall be a limited obligation of the Authority payable solely from loan repayment proceeds or other revenues to be derived pursuant to a loan agreement to be entered into among the Authority and the Corporation and neither the 2020B Bonds nor the interest thereon, nor any charge in connection therewith, shall be a charge against the general credit or taxing powers of the Authority or the State of West Virginia, nor shall the same ever constitute an indebtedness of the Authority or the State of West Virginia, within the meaning of any constitutional provision or statutory limitations.

In order to promote and protect the safety of both the public and the Authoritys staff in light of the COVID-19 pandemic, a public hearing will be held before the Authority on November 19, 2020, at 9:00 a.m. solely via the following toll-free telephonic conference line in lieu of physical presence at the public hearing:

Dial in Number: 1-888-273-3658

Participant Code: 9045340

Any person or persons interested may appear before the Authority, via the teleconference line only, to present oral comments and suggestions and be heard as to the proposed issuance of 2020B Bonds and the location and nature of the Project to be financed with the 2020B Bonds. Interested individuals may also submit written comments to the Authority at 180 Association Drive, Charleston, West Virginia 25311 or to caren.d.wilcher@wv.gov on or before 9:00 a.m. on November 19, 2020.

This notice is given pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended.

Following said public hearing, the Authority intends to vote on the adoption of the Resolution approving the issuance of its West Virginia Economic Development Authority, Solid Waste Disposal Facility Revenue Bonds (Arch Resources, Inc. Project), Series 2020B and to take such other action as it deems proper.

Dated this November 10, 2020.

/s/ Dale Steager

Secretary, West Virginia Economic Development Authority

Notes:
Meeting was approved : 11/9/2020 8:07:57 AM

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Tuesday, November 24, 2020 — 9:08 PM