HomeMy WebLinkAboutNotice Cole Valley Christian School Bonds PH
NOTICE OF PUBLIC HEARING
IN CONNECTION WITH THE ISSUANCE BY THE
COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY
OF ITS ADJUSTABLE RATE DEMAND REVENUE BONDS, SERIES 2007
(COLE VALLEY CHRISTIAN SCHOOLS PROJECT)
IN THE AGGREGATE PRINCIPAL NOT TO EXCEED $5,600,000
PUBLIC NOTICE IS HEREBY GIVEN that a public hearing will be held by the
City Council of the City of Me:::ridian, Idahu (the::: "City") at the City Council Chambers,
33 East Idaho Avenue, Meridian, Idaho 83642 on Tuesday, May 8, 2007, at or about 7:00
p.m. on the proposed issuance by the Colorado Educational and Cultural Facilities
Authority (the "Colorado Issuer") of its Adjustable Rate Demand Revenue Bonds, Series
2007 (Cole Valley Christian Schools Project), in the aggregate principal amount not to
exceed $5,600,000 (the "Bonds") for the purpose of providing funds to (a) reimburse
Cole Community Church, Inc., an Idaho nonprofit corporation ("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
se:::l..:undary fal..:ility wntaining 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 East Carlton Avenue, 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, induding initial costs of
any credit enhancement. The Facilities will be owned and operated by Cole. The
proceeds of the Bonds will be loaned by the Colorado Issuer to ACSI Capital Corporation
which will in turn loan the proceeds to CV Schools, LLC, an Idaho limited liability
company the sole member of which is Cole.
The::: City uf Me:::ridian, Idahu will nut be:::ar any responsibility for the tax-exempt
status of the Bonds, the debt service on the Bonds or any other matter related to the
Bonds.
Interested persons wishing to express their views on the issuance of the Bonds by
the Colorado Issuer or on the nature or location of the Facilities proposed to be financed
or refinanced may attend the public hearing or, prior to the time of the hearing, submit
written comments to the office of the City Clerk of the City of Meridian, Idaho at
Meridian City Hall, 33 East Idaho Avenue, Meridian, Idaho 83642.
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CITY OF MERIDIAN, IDAHO
By:
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Publish April 23, 2007
?URSt 'Post ~ 'PU-~0 YLo-h-CL~ 1f1aklF-Sl
NOTICE OF PUBLIC HEARING
IN CONNECTION WITH THE ISSUANCE BY TH~
COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY
OF ITS ADJUSTABLE RATE DEMAND REVENUE BONDS, SERIES 2007
(COLE VALLEY CHRISTIAN SCHOOLS PROJECT)
IN THE AGGREGATE PRINCIPAl, NOT TO EXCEED $5,600,000
PUBLIC NOTICE IS HEREBY GIVEN that a public hearing will be held by the
City Council of the City of Meridian, Idaho (the "City") at the City Council Chambers,
33 East Idaho Avenue, Meridian, Idaho 83642 on Tuesday, May 8, 2007, at or about 7:00
p.m. on the proposed issuance by the Colorado Educational and Cultural Facilities
Authority (the "Colorado Issuer") of its Adjustable Rate Demand Revenue Bonds, Series
2007 (Cole Valley Christian Schools Project), in the aggregate principal amount nut tu
exceed $5,600;000 (the "Bonds") for the purpose of providing funds to (a) reimburse
Cole Community Church, Inc., an Idaho nonprofit corporation ("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 East Carlton Avenue, 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 custs uf
any credit enhancement. The Facilities will be owned and operated by Cole. The
proceeds of the Ronds will be loaned by the Colorado Issuer to ACSI Capital Corporation
which will in turn loan the proceeds to CV Schools, LLC, an Idaho limited liability
company the sole member of which is Cole.
The City of Meridian, Idaho will not bear any responsibility for the tax-exempt
status of the Bonds, the debt service on the Bonds or any other matter related to the
Bonds.
Interested persons wishing to express their views on the issuance of the Bonds by
thc Colorado Issuer or on the nature or location of the Facilities proposed to be financed
or refinanced may attend the public hearing or, prior to the time of the hearing, submit
written comments to the office of the City Clerk of the City of Meridian, Idaho at
Meridian City Hall, 33 East Idaho Avenue, Meridian, Idaho 83642.
CITY OF MERIDIAN, IDAHO
(
William G. Berg, Jr., City Clerk;
By:
Publish April 23, 2007