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. 'to <br />N ORTH CAROLINA <br />Charter Educational Foundation, Inc. <br />As described in the notice, the principal amount of the Bonds will not exceed <br />$125,000,000 and will be used to (1) finance the acquisition, construction, equipping, and/or any <br />other capital expenditures and related expenses, as applicable, of (a) charter school educational <br />facilities at 355 Poplar Crossing Drive NW, Concord, North Carolina 28027 and 7550 Ruben <br />Linker Road W., Concord, North Carolina 28028, within Cabarrus County and referred to as <br />Cabarrus Charter Academy, (b) charter school educational facilities at 1911 Concord Lake Road, <br />Kannapolis, North Carolina 28083, within Cabarrus County and referred to as Kannapolis <br />Charter Academy and (c) additional charter school educational facilities located or to be located <br />in Iredell County, North Carolina, (2) fund capitalized interest in connection therewith, (3) fund <br />any debt service reserve funds and (4) pay certain expenses in connection with the issuance of <br />the Bonds by the Authority. <br />I hope this letter provides you the information you need in order to hold the public <br />hearing at the Board's February 15, 2016, meeting, but please call me if you have any questions. <br />I am happy to answer any questions about The North Carolina Charter Educational Foundation, <br />Inc. or the Bonds. <br />Thank you for your consideration of this matter. <br />Very truly yours, <br />Barbra Bryan, <br />Board President <br />8100369x3 23840.00011 <br />Attachment number 1 \n <br />G -3 Page 110 <br />