Title:
TEFRA Hearing - CSD Property, LLC.
Summary
ACTION:
(1) Open TEFRA public hearing and receive comments on the proposed financing by CSD Property, LLC.
(2) Close public hearing and adopt resolution entitled:
Resolution approving in principle the issuance of not to exceed $15,250,000 of public finance authority educational facilities revenue bonds (Community School of Davidson project), series 2018 for the benefit of CSD Property, LLC, or an affiliate thereof
Staff Contact: Tyrone C. Wade, County Attorney
Presentation: No
BACKGROUND/JUSTIFICATION:
As more fully explained in the attached Resolution, CSD Property, LLC (the “Borrower”) has requested that the Public Finance Authority, a public authority existing under the laws of the State of Wisconsin (the “Authority”), issue its tax-exempt and/or taxable Educational Facilities Revenue Bonds (Community School of Davidson Project), Series 2018 (the “Bonds”), in the principal amount not to exceed $15,250,000 pursuant to a plan of finance for the Project (as defined below):
(a) to finance or reimburse the Borrower for all or a portion of the costs of (i) acquiring an approximately 39-acre tract of land and the constructing and equipping thereon of a turf field for track, soccer, lacrosse and football, tennis courts, baseball fields and related improvements (the “Athletic Facility Project”), (ii) acquiring a fee simple interest in an existing elementary and middle school campus (the “Elementary and Middle School Project”), and (iii) acquiring and installing certain furniture, equipment and tenant improvements at an existing high school campus (the “High School Project” and, together with the Athletic Facility Project and the Elementary and Middle School Project, the “Project”),
(b) fund a debt service reserve fund for the Bonds and
(c) pay certain costs of issuing the Bonds.
CSD Property, LLC is using the Wisconsin Public Finance Authority as the issuer of the Bonds because of a desire to have...
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