Title
TEFRA Hearing-Lake Norman Charter School
Action
ACTION:
1) Open a TEFRA Public Hearing to receive comments on the proposed financing by Lake Norman Charter School and
2) Close the Public Hearing and adopt a Resolution entitled Resolution of the Board of Commissioners of Mecklenburg County, North Carolina approving the issuance of the Educational Facilities Revenue Bonds in an aggregate principal amount not to exceed $27,000,000 to be issued by the Public Finance Authority for the benefit of Lake Norman Charter School.
Staff Contact: Tyrone C. Wade, County Attorney
Presentation: No
BACKGROUND/JUSTIFICATION:
As more fully explained in the attached Resolution Lake Norman Charter School, Inc. (the “School”) has requested that the Public Finance Authority, a public authority existing under the laws of the State of Wisconsin (the “Authority”), issue its Educational Facilities Revenue Bonds (Lake Norman Charter School), in one or more series (the “Bonds”), in an aggregate principal amount not to exceed $27,000,000 for the following purposes:
(1) finance and refinance the acquisition, construction and equipping of certain elementary school facilities on the elementary school campus (the “Project”);
(2) fund a debt service reserve fund for the Bonds; and
(3) pay certain expenses incurred in connection with the authorization and issuance of the Bonds.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
N/A