HomeMy WebLinkAboutCole Valley Christian Schools Bonds Public Hearing
COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY
ADJUSTABLE RATE DEMAND REVENUE BONDS, SERIES 2007
(COLE VALLEY CHRISTIAN SCHOOLS PROJECT)
Pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended,
including any applicable United States Treasury temporary regulations, the undersigned, the
Mayor of the City of Meridian, Idaho (the "Executive", and the "applicable elected
representative" within the meaning of said Section 147(t)), hereby approves the captioned
bonds to be issued by the Colorado Educational and Cultural Facilities Authority in an
aggregate principal amount not to exceed $5,600,000 (the "Bonds"), the proceeds of which
will be used by CV Schools, LLC, an Idaho limited liability company the sole member of
which is Cole Community Church, Inc. ("Cole"), to: (a) reimburse Cole for, and
refinance certain existing indebtedness of Cole, the proceeds of which were used to
finance, the costs of acquiring, constructing and equipping Cole's existing 46,000 square
foot secondary facility containing classrooms, an auditorium, and offices and Cole's
existing 24,646 square foot gymnasium with common areas connected to the main
building (the "Facilities"), such Facilities located at 200 E. Carlton Road, Meridian,
Idaho 83642; (b) fund capitalized interest on the Bonds, if any; (c) fund any required debt
service reserve fund; and (d) pay certain costs of issuance of the Bonds, including initial
costs of any credit enhancement.
This approval (i) is given following a public hearing held by the City Council of the
City of Meridian, Idaho at the City Council Chambers, 33 East Idaho Avenue, Meridian,
Idaho 83642 on Tuesday, May 8,2007 at or about 7:00 p.m., following reasonable public
notice published in advance of such hearing, (ii) is solely for the purpose of satisfying said
Section 147(f) and any United States Treasury Regulations, (iii) is final and conclusive tor
such purpose, (iv) is given as of May 8, 2007.
The City of Meridian, Idaho will not bear any responsibility for the tax-exempt
status of the Ronds, the debt service on the Bonds or any other matter related to the
Bonds.
CITY OF MERIDIAN, IDAHO
Dated:
By:
Tammy de Weerd, Mayor
COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY
ADJUSTABLE RATE DEMAND REVENUE BONDS, SERIES 2007
(COLE VALLEY CHRISTIAN SCHOOLS PROJECT)
CERTIFICATE OF PUBLIC HEARING
The undersigned, the City Clerk of the City of Meridian, Idaho, hereby certifies, that:
A public hearing was held on Tuesday, May 8, 2007 at 7:00 p.m. before the City
Council of the City of Meridian, City Council Chambers, 33 East Idaho A venue,
Meridian, Idaho 83642, in accordance with the public notice published in Valley Times and
the hearing was conducted in a manner which provided a reasonable opportunity for persons
with differing views on the issuance of the above-referenced bonds (the "Bonds"). There
was no comment from the public at the hearing regarding the Bonds and there was no
written comment received regarding the Bonds prior to the hearing.
CITY OF MERIDIAN, IDAHO
Dated:
By:
William G. Berg, Jf., City Clerk