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CABARRUS COUNTY
<br />BOARD OF COMMISSIONERS
<br />NOTICE OF PUBLIC HEARING
<br />February 17, 2014 — 6:30 P.M.
<br />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 soon thereafter as may be heard, a
<br />public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the " Code "), will be
<br />held by the Cabarrus County Board of Commissioners in the Commissioners Meeting Room of the Cabarrus County
<br />Government Center located at 65 Church Street, SE, Concord, North Carolina 28026, with respect to a proposed plan of
<br />finance and the proposed issuance by the Public Finance Authority, a commission organized under and pursuant to the
<br />provisions of Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes (the " Authority "), of its Charter School
<br />Revenue Bonds in one or more issuances and /or one or more series and which may include both senior and
<br />subordinate 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 Statutes, as amended, by the
<br />Authority and pursuant to the plan of finance the proceeds from the sale of the Bonds will be loaned by the Authority to
<br />Vertex Non - Profit Organization, a Utah non - for - profit corporation and 501(c)(3) organization (the " Borrower "), and used
<br />to (1) finance and 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, renovation, equipping, and /or any
<br />other capital expenditures and related expenses, as applicable, of charter school educational facilities at the following
<br />locations, and to fund certain costs of issuance and capitalized interest in connection therewith: (a) 950 North Peart
<br />Road, Casa Grande, Arizona 85122, with the applicable facility sometimes referred to as The Odyssey Preparatory
<br />Academy — Casa Grande, in an amount not to exceed $11,441,000, (b) 4380 North Hunt Highway, Florence, Arizona
<br />85312, with the applicable facility sometimes referred to as the American Leadership Academy — Anthem, in an amount
<br />not to exceed $8,222,000, (c) southeast corner of intersection of Recker Road and Warner Road, Gilbert, Arizona 85296,
<br />with the applicable facility sometimes referred to as Classics and Four Arts Academy — Gilbert, in an amount not to
<br />exceed $14,036,000, (d) 7807 Caldwell Road, Harrisburg, North Carolina 28075, with the applicable facility sometimes
<br />referred to A.C.E. Academy, in an amount not to exceed $3,422,000, and (e) 1403 Greenbrier Mossydale Road,
<br />Winnsboro, South Carolina 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 owned by the Borrower.
<br />The Bonds will be limited obligations of the Authority payable solely from the loan repayments to be made by the
<br />Borrower to the Authority, certain funds and accounts established by the Indenture of Trust for the Bonds, and any
<br />security and/or credit enhancement provided, or obtained, by the Borrower for such purpose. The principal of,
<br />premium, if any, and interest on the Bonds will not constitute an indebtedness or liability of the County of Cabarrus, the
<br />State of North Carolina, or any political subdivision of the State of North Carolina, or a charge against their general
<br />credit or any taxing powers.
<br />Attachment number 4
<br />G -1 Page 121
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