HomeMy WebLinkAboutCOLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY for Adjustable Rate Demand Revenue Bond and Certificate of Public HearingCOLORADO 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 28, 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 opporhuuty
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 28, 2008 ~~````"~ ~"~ ~ ""''~~~,
CITY OF MERIDIAN, IDAH~Q~.~`l ~ 9y .,~~~~
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By:
Jayce Holman, City Cl k~,~ ~
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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(f)), 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 28, 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 28, 2008.
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.
Tammy de rd,
Mayor, Ci of Meridian, Idaho