The Capital Trust Agency (the "CTA") has been requested by Pineapple Cove Classical Academy at Lockmar, Inc., a Florida not for profit corporation (the "Borrower") to issue its Educational Facilities Revenue Bonds (Pineapple Cove Classical Academy at Lockmar, Inc. Project), Series 2021, in one or more installments or series, either taxable or tax-exempt, or both
, in an aggregate principal amount not to exceed $24,000,000 (the "Bonds").
For the purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended, notice is hereby given that the Board of County Commissioners (the "Board") of Brevard County, Florida (the "County"), will hold a public meeting and hearing at 5:00 p.m., or as soon thereafter as practicable, on August 3, 2021, in the Government Center, 2725 Fran Jamieson Way, Building C, First Floor, Viera, Florida.
The purpose of the hearing is to consider authorization of the issuance of the Bonds by the CTA to provide funds to be loaned by the CTA to the Borrower, for the
purpose of financing or refinancing, 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 Classical Academy at Lockmar, a public charter school serving grades K – 8, to be located at 720 Emerson Drive NE, Palm Bay, Florida 32907 (collectively, the "Facilities");
(ii) the funding of a debt service reserve fund for the Bonds, if deemed necessary or desirable by the Borrower; (iii) the funding of capitalized interest for the Bonds, if deemed necessary or desirable by the Borrower; and (iv) the payment
of certain costs of issuing the Bonds (collectively, the "Project").
The plan of finance contemplates that the CTA will issue, with respect to such Project, not exceeding $24,000,000
in aggregate principal amount of the Bonds, in one or more installments or series and loan the proceeds of such Bonds to the Borrower to provide funds for the Project.
The Facilities will be owned by the Borrower.
The County will neither issue, nor be obligated in any manner with respect to the Bonds or the repayment thereof nor will the County have any obligations with respect to the Facilities or the Project
The Bonds, when issued, will be special, limited obligations of the CTA payable solely out of the revenues, income and receipts pledged to the payment thereof and derived from financing agreements with the Borrower, and the CTA will not be obligated to pay the principal of, premium, if any, or interest on the Bonds except from the payments of the Borrower.
The Bonds will not constitute: (i) a debt, liability or obligation of the CTA, the County, the State of Florida (the "State"), or any political subdivision, public agency or municipality thereof, (ii) a pledge of the full faith and credit of the CTA, the County, the State, or any political subdivision, public agency or municipality thereof, or (iii) a pledge of the taxing power of the County, the State, or any political subdivision, public agency or municipality thereof within the meaning of any constitutional or statutory provision.
The CTA has no taxing power.
At the time and place fixed for said public hearing all who appear will be given an opportunity to express their views for or against the proposal to approve the issuance of said Bonds and the plan of finance. Prior to said public hearing, written comments may be delivered to the Clerk of the Circuit Court, Ex-Officio Clerk to the Board,
2825 Judge Fran Jamieson Way, Viera, Florida 32940. All persons are advised that, if they decide to appeal any decision made by the County with respect to any matter considered at this meeting, they will need a record of the proceedings, and for such purpose, they may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. All interested persons are invited to present their comments at the time and place set forth above.
THE COUNTY ADHERES TO THE AMERICANS WITH DISABILITIES ACT AND WILL MAKE REASONABLE ACCOMMODATIONS FOR ACCESS TO THIS MEETING UPON REQUEST. PERSONS NEEDING A SPECIAL ACCOMODATION OR AN INTERPRETER TO PARTICIPATE IN THE PROCEEDINGS, PLEASE NOTIFY THE COUNTY MANAGER'S OFFICE AT (321) 663-2001, AT LEAST 48 HOURS IN ADVANCE. TDD: 1-800-955-8771. ASSISTED LISTENING SYSTEM RECEIVERS ARE AVAILABLE FOR THE HEARING IMPAIRED, & CAN BE OBTAINED FROM THE SOUND TECHNICIAN AT THE MEETING. THIS MEETING WILL BE BROADCAST LIVE ON SPACE COAST GOVERNMENT TELEVISION (SCGTV) ON BRIGHT HOUSE NETWORKS CHANNEL 499, COMCAST CABLE COMMUNICATIONS CHANNEL 51 IN NORTH BREVARD AND CHANNEL 13 IN SOUTH BREVARD, AND AT&T U-VERSE CHANNEL 99. SCGTV WILL ALSO REPLAY THIS MEETING DURING THE COMING MONTH. CHECK THE SCGTV WEBSITE FOR DAILY PROGRAM UPDATES HTTP://WWW.SCGTV.ORG.