NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that Peter Menna, Acting Corporation Counsel on behalf of COUNTY EXECUTIVE OF OAKLAND, MICHIGAN, will hold a public hearing on June 18, 2021 at 10:00 am local time, by teleconference open to all members of the public by dialing the toll free number 1-888-857-7121 and when prompted, passcode: 2158648513# in connection with the proposed issuance by The Industrial Development Authority of the County of La Paz (the “Authority”) of qualified 501(c)(3) bonds (the “Bonds”) as defined in section 145 of the Internal Revenue Code of 1986, as amended (the “Code”) in one or more series pursuant to a plan of finance. The hearing is being held pursuant to section 147(f) of the Code.
The Bonds will be issued for the project described below in an aggregate principal amount not to exceed $68,000,000.
Proceeds of the sale of the Bonds which will be issued as qualified 501(c)(3) bonds will be loaned by the Authority to Campus Partners 1 and its affiliates, all single member limited liability companies and disregarded entities of Campus Partners 1 (collectively, the “Borrower”) to be used to finance or reimburse all or a portion of the costs of a project that consists of (1) the acquisition and improvement of certain public charter school facilities (the “Charter School Facilities”) identified below for use in their school operations at the locations and in the estimated maximum principal amounts listed below; (2) the funding of any required reserves; and (3) the payment of the costs of issuance of the Bonds. The Borrower will lease the Charter School Facilities to qualified 501(c)(3) entities or governmental entities. The Charter School Facilities will be owned by the Borrower as the initial legal owner.
Charter School Facility Location Maximum Amount in each location
Laurus Academy 24590 Lahser Road, $14,000,000
Southfield, MI 48034-6040
Oakside Scholars Charter Academy 355 Summit Drive $37,500,000
Waterford, MI 48328
Walton Charter Academy 744 East Walton Boulevard, $16,500,00
Pontiac, MI 48340-1361
All members of the public may attend by telephone by dialing the toll free number 1-888-857-7121 and when prompted, passcode: 2158648513#. Written public comments may be e-mailed to the Oakland County Executive at firstname.lastname@example.org
This notice is published in accordance with, the public notice requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder