HomeMy WebLinkAboutFoundations Academy Public Hearing DocumentationPage 1 of 4
Tara Green
From: Bill Nary
Sent: Thursday, October 09, 2008 11:58 AM
To: Jaycee Holman; Tara Green
Subject: RE: Bond issue
I don't know if the is a timing issue for them. It has to be on the agenda as a public hearing.
bill Nary
City Attorney/HR Director
703 Main St.
Meridian, ID 83642
Ph.#'s
Legal - 208.898.5506
HR - 208.898.5503
Fax - 208.884.8723
Cell - 208.440.3881
From: Jaycee Holman
Sent: Thursday, October 09, 2008 11:18 AM
To: Tara Green
Cc: Bill Nary
Subject: FW: Bond issue
Is this okay to go on the 10/14 Agenda and he would like a call or a-mail if he is required to be present. I told him
I was not sure if it would go on Consent or regular agenda. He refers to having it on 10/21 agenda which is a
workshop.
From: David Goodwin [mailto:dgoodwin@foundationsacademy.org]
Sent: Wed 10/8/2008 9:44 AM
To: Jaycee Holman
Subject: FW: Bond issue
From: David Goodwin [mailto:dgoodwin@foundationsacademy.org]
Sent: Thursday, October 02, 200812:54 PM
To: 'bnary@meridiancity.org'
Cc: 'Michael J. Melliere'
Subject: F11V: Bond issue
Hello,
I contacted JC Holman who needed more information on our request to be added to the October 21st city
counsel meeting. Here's some additional information.
Thank you for your help. Please contact myself or the bond attorney below if you have further
questions.
Mr. David Goodwin
10/27/2008
Page 2 of 4
Headmaster
Foundations Academy/ St. Ambrose Christian High School
(208) 323 3888
dgoodwin@foundationsacademy.org
From: Michael ]. Melliere [mailto:mmelliere@peckshaffer.com]
Sent: Friday, September 26, 2008 8:49 AM
To: David Goodwin
Cc: Daly, Lynn; wfossel@ziegler.com
Subject: RE: Bond issue
OK, thanks. Attached are revised hearing notice and approval documents (City Clerk has changed since Cole
Valley transaction). Feel free to forward these to City and have them call or email me if they would like more of a
legal explanation as to what is needed and why. To get on Oct. 14 city council agenda, we need to publish in
Valley Times by this coming Monday. To get final notice published in Valley Times on Monday, we need to have
notice to paper by Noon Idaho time today. And to do that we need City to review the Notice and confirm we can
be on the agenda for Oct. 14. If you can work your magic with the City and make that happen in next few hours,
great -otherwise, we're probably looking at Oct. 21 city council meeting.
Thanks.
From: David Goodwin [mailto:dgoodwin@foundationsacademy.org]
Sent: Friday, September 26, 2008 10:45 AM
To: Michael ]. Melliere
Cc: 'Daly, Lynn'; wfossel@ziegler.com
Subject: RE: Bond issue
Thank you for your representation and assistance at that meeting.
I will contact the city. The name is correct: Foundations Academy, Inc.
All bonds are to be spent on the Meridian campus.
David.
Mr. David Goodwin
Headmaster
Foundations Academy/ St. Ambrose Christian High School
(208) 323 3888
dgoodwin@foundationsacademy.org
From: Michael ]. Melliere [mailto:mmelliere@peckshaffer.com]
Sent: Thursday, September 25, 2008 6:38 PM
To: dgoodwin@foundationsacademy.org
Cc: Daly, Lynn; wfossel@ziegler.com
Subject: Bond issue
David, congrats on your approval at CECFA yesterday, and nice job on the presentation.
As part of the financing process, we'll need to have the City of Meridian have its City Council conduct a public
hearing and then have the Mayor sign an approval certificate. The approval basically says that it is OK with the
City of Meridian if CECFA issues bonds for a project in the City's jurisdiction. We went through this for Cole
10/27/2008
Page 3 of 4
Valley Christian so City should be cooperative and hopefully will remember the reason for the request.
Attached are a draft notice of public hearing and a form of Mayor's approval. Can you take a quick look at these
and confirm:
1. Project description is accurate
2. Street address for new campus is accurate
3. Legal name of Foundations is correct
4. This is really for ZI®gler team - $5,000,000 not to exceed amount OK?
This info is critical as we will only be able to spend proceeds for projects described in, and at address identified in,
the public hearing notice.
am assuming all bond proceeds will be spent at new campus, and none will be spent at existing campus, but
please confirm.
If OK with you, I will contact City Clerk (Will Berg, I believe) to start the process with the City. If you'd rather make
the initial call, OK with me.
Thanks much.
Michael J. Melliere, Esq.
Peck, Shaffer ~ Williams LLP
175 South Third Street, Suite 600
Columbus, Ohio 43215
phone (614) 233-5403
fax (614) 224-0069
mmelliere@peckshaffer.com
This advice has not been reviewed with or considered by Peck, Shaffer & Williams tax department. Additional issues of fact
and/or law may exist that could affect the conclusions. Furthermore, this advice is not intended to be used, and cannot be
used, by any taxpayer or other person, for the purpose of avoiding penalties under the Internal Revenue Code of 1986, as
amended, or any predecessor statute, that may be imposed on the taxpayer or other person.
To ensure compliance with certain requirements promulgated by the Internal Revenue Service under 31
CFR Part 10, Section 10.35, we inform you that, unless specifically indicated otherwise, any tax advice
contained in this communication (including any attachments) was not intended or written to be used, and
cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code, or
(ii) promoting, marketing, or recommending to another party any tax-related matter addressed herein.
The information contained in this electronic mail transmission is intended by Peck, Shaffer & Williams
LLP for the use of the named individual or entity to which it is directed and may contain information
that is privileged, confidential and exempt from disclosure under applicable law. It is not intended for
transmission to, or receipt by, anyone other than the named addressee (or a person authorized to deliver
it to the named addressee). It should not be copied or forwarded to any unauthorized persons. If you
have received this electronic mail transmission in error, please delete it from your system without
reading, copying or forwarding it, and notify the sender of the error by reply email or by calling Peck,
Shaffer & Williams at 800 927-2663, so that our address record can be corrected.
10/27/2008
Page 4 of 4
To ensure compliance with certain requirements promulgated by the Internal Revenue Service under 31
CFR Part 10, Section 10.35, we inform you that, unless specifically indicated otherwise, any tax advice
contained in this communication (including any attachments) was not intended or written to be used, and
cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code, or
(ii) promoting, marketing, or recommending to another party any tax-related matter addressed herein.
The information contained in this electronic mail transmission is intended by Peck, Shaffer & Williams
LLP for the use of the named individual or entity to which it is directed and may contain information
that is privileged, confidential and exempt from disclosure under applicable law. It is not intended for
transmission to, or receipt by, anyone other than the named addressee (or a person authorized to deliver
it to the named addressee). It should not be copied or forwarded to any unauthorized persons. If you
have received this electronic mail transmission in error, please delete it from your system without
reading, copying or forwarding it, and notify the sender of the error by reply email or by calling Peck,
Shaffer & Williams at 800 927-2663, so that our address record can be corrected.
10/27/2008
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 2008
(FOUNDATIONS ACADEMY PROJECT)
IN THE AGGREGATE PRINCIPAL NOT TO EXCEED $5,000,000
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 October _, 2008, 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 2008 (Foundations Academy Project), in
the aggregate principal amount not to exceed $5,000,000 (the "Bonds") for the purpose of
providing funds to Foundations Academy, Inc., an Idaho nonprofit corporation (the "Borrower"),
to: (a) finance the costs of, or reimburse the Borrower for the costs of, the acquisition,
construction and equipping of a new school building, which building will be located on
approximately 8.65 acres of land and will consist of approximately 23 classrooms, administrative
offices, library, music room, computer lab and science lab (collectively, the "Facilities"), such
Facilities to be located at 6380 North Locust Grove in Meridian, Idaho; (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. The Facilities
will be owned and operated by the Borrower. The proceeds of the Bonds will be loaned by the
Colorado Issuer to ACSI Capital Corporation which will in turn loan the proceeds to the
Borrower.
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 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.
CITY OF MERIDIAN, IDAHO
By: /s/ Jaycee Holman
City Clerk
COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY
ADJUSTABLE RATE DEMAND REVENUE BONDS, SERIES 2008
(FOUNDATIONS ACADEMY 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(fj), hereby approves the captioned bonds to be issued by the Colorado Educational
and Cultural Facilities Authority in an aggregate principal amount not to exceed $5,000,000 (the
"Bonds"), the proceeds of which will be used by Foundations Academy, Inc., an Idaho nonprofit
corporation (the "Borrower"), to: (a) finance the costs of, or reimburse the Borrower for the costs
of, the acquisition, construction and equipping of a new school building, which building will be
located on approximately 8.65 acres of land and will consist of approximately 23 classrooms,
administrative offices, library, music room, computer lab and science lab (collectively, the
"Facilities"), such Facilities to be located at 6380 North Locust Grove in Meridian, Idaho; (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, October , 2008 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 for such purpose, (iv) is given as of
October _, 2008.
The City of Meridian, Idaho will not beaz any responsibility for the tax-exempt status of
the Bonds, the debt service on the Bonds or any other matter related to the Bonds.
Tammy de Weerd,
Mayor, City of Meridian, Idaho
COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY
ADJUSTABLE RATE DEMAND REVENUE BONDS, SERIES 2008
(FOUNDATIONS ACADEMY 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 October _, 2008 at 7:00 p.m. at the City Council Chambers,
33 East Idaho Avenue, 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.
Dated: October _, 2009
CITY OF MERIDIAN, IDAHO
By:
Will Berg, City Clerk