Subject:
Title
Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) hearing for Capital Trust Agency Educational Facilities Revenue Bonds (Pineapple Cove Classical Academy at Lockmar, Inc. Project), Series 2021 (the "Bonds")
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Fiscal Impact:
None
Dept/Office:
County Attorney's Office
Requested Action:
Recommendation
Hold TEFRA public hearing on proposed Bonds and adopt a Resolution approving the Bonds for TEFRA purposes and the ability of the Capital Trust Agency to issue the Bonds in a principal amount not exceeding $24,000,000 and to loan the proceeds thereof to Pineapple Cove Classical Academy at Lockmar, Inc., a Florida not for profit corporation (the "Borrower"), to finance the acquisition, renovation, construction, equipping and furnishing of the charter school facilities herein described; authorize the Chair to execute the Resolution.
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Summary Explanation and Background:
The County Attorney's Office has been approached by Bryant Miller Olive, 1 Tampa City Center, Suite 2700, Tampa, Florida, 33602, which Firm is serving as Bond Counsel with respect to the Bonds. The Bonds will be issued by the Capital Trust Agency (the "Agency"). The primary purpose of the Bonds is to finance or refinance, including through reimbursement (i) (A) the acquisition of approximately 10 acres of land, (B) the renovation of four existing buildings consisting of a total of approximately 54,000 square feet for the purpose of providing 15 classrooms, administrative offices, a gym, and four specialty classrooms, including related facilities, fixtures, furnishings and equipment, and (C) the acquisition, construction and equipping of a new approximately 30,000 square foot, two-story building consisting of 23 classrooms, a multi-purpose room and administrative offices, including related facilities, fixtures, furnishings and equipment, minor sports fields, additional parking and adjacent road improvements, to the extent deemed necessary, all to be known as Pineapple Cove ...
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