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NOTICE OF PUBLIC HEARING WITH RESPECT TO AN AMOUNT NOT TO
<br />EXCEED $39,261,000 OF PUBLIC FINANCE AUTHORITY
<br />CHARTER SCHOOL REVENUE BONDS
<br />NOTICE IS HEREBY GIVEN that on Monday, February 17, 2014, at 6:30 p.m. or as
<br />soon thereafter as may be heard, a public hearing, as required by Section 147(f) of the Internal
<br />Revenue Code of 1986, as amended (the " Code "), will be held by the Cabarrus County Board of
<br />Commissioners in the Commissioners Meeting Room of the Cabarrus County Government
<br />Center located at 65 Church Street, SE, Concord, North Carolina 28026, with respect to a
<br />proposed plan of finance and the proposed issuance by the Public Finance Authority, a
<br />commission organized under and pursuant to the provisions of Sections 66.0301, 66.0303 and
<br />66.0304 of the Wisconsin Statutes (the " Authority "), of its Charter School Revenue Bonds in one
<br />or more issuances and /or one or more series and which may include both senior and subordinate
<br />bonds (the " Bonds "), in an aggregate amount not to exceed $39,261,000.
<br />The Bonds are expected to be issued pursuant to Section 66.0304 of the Wisconsin
<br />Statutes, as amended, by the Authority and pursuant to the plan of finance the proceeds from the
<br />sale of the Bonds will be loaned by the Authority to Vertex Non - Profit Organization, a Utah non -
<br />for- profit corporation and 501(c)(3) organization (the ` Borrower "), and used to (1) finance and
<br />refinance various capital projects as hereinafter described, (2) pay costs of issuance and (3) fund
<br />capitalized interest in connection therewith.
<br />The proceeds of the Bonds will finance the acquisition, construction, reconstruction,
<br />renovation, equipping, and /or any other capital expenditures and related expenses, as applicable,
<br />of charter school educational facilities at the following locations, and to fund certain costs of
<br />issuance and capitalized interest in connection therewith: (a) 950 North Peart Road, Casa
<br />Grande, Arizona 85122, with the applicable facility sometimes referred to as The Odyssey
<br />Preparatory Academy — Casa Grande, in an amount not to exceed $11,441,000, (b) 4380 North
<br />Hunt Highway, Florence, Arizona 85312, with the applicable facility sometimes referred to as
<br />the American Leadership Academy — Anthem, in an amount not to exceed $8,222,000, (c)
<br />southeast corner of intersection of Recker Road and Warner Road, Gilbert, Arizona 85296, with
<br />the applicable facility sometimes referred to as Classics and Four Arts Academy — Gilbert, in an
<br />amount not to exceed $14,036,000, (d) 7807 Caldwell Road, Harrisburg, North Carolina 28075,
<br />with the applicable facility sometimes referred to as A.C.E. Academy, in an amount not to
<br />exceed $3,422,000, and (e) 1403 Greenbrier Mossydale Road, Winnsboro, South Carolina
<br />29180, with the applicable facility sometimes referred to as Midlands STEM Institute, in an
<br />amount not to exceed $2,140,000.
<br />The facilities financed and /or refinanced with the proceeds of the Bonds will initially be
<br />owned by the Borrower.
<br />The Bonds will be limited obligations of the Authority payable solely from the loan
<br />repayments to be made by the Borrower to the Authority, certain funds and accounts established
<br />by the Indenture of Trust for the Bonds, and any security and /or credit enhancement provided, or
<br />obtained, by the Borrower for such purpose. The principal of, premium, if any, and interest on
<br />the Bonds will not constitute an indebtedness or liability of the County of Cabarrus, the State of
<br />3223589v2 23768.00011
<br />Attachment number 1
<br />G -1 Page 117
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