Title:
TEFRA Hearing: Corvian Community School, Inc.
Summary
ACTION:
(1) Open TEFRA public hearing and receive comments on the proposed financing by Corvian Community School, Inc.;
(2) Close public hearing and adopt resolution entitled:
Resolution of the Board of Commissioners of the County of Mecklenburg, North Carolina, approving the issuance by the Public Finance Authority of its education revenue bonds (Corvian Community School) series 2019 in an aggregate principal amount not to exceed $30,000,000
Staff Contact: Tyrone C. Wade, County Attorney
Presentation: No
BACKGROUND/JUSTIFICATION:
As more fully explained in the attached Resolution, CCSSH, LLC (the “Borrower”), a North Carolina limited liability company whose sole member is Corvian Community School, Inc. (the “Corporation”), a nonprofit corporation, has requested that the Public Finance Authority, a public authority existing under the laws of the State of Wisconsin (the “Authority”), issue its Education Revenue Bonds (Corvian Community School) Series 2019 (the “Bonds”), in an aggregate principal amount not to exceed $30,000,000 and loan the proceeds thereof to the Borrower for the following purposes:
(a) financing or refinancing including through reimbursement, the acquisition, construction, improvement, and equipping of land and certain charter school facilities of the Borrower and the Corporation, including but not limited to (i) acquiring the approximately 10.02 acres of land and structure located thereon at 4119 Johnston Oehler Road, Charlotte, North Carolina 28269 (the “Land”), the Borrower’s and the Corporation’s elementary school facilities consisting of one approximately 29,169 square foot building and approximately 17.01 acres of land located at 9501 David Taylor Drive, Charlotte, North Carolina 28262 (the “Elementary School”) and middle school facilities consisting of one approximately 35,800 square foot building and approximately 14.47 acres of land located at 4125 Johnston O...
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