29496747 - Florida Administrative Rules, Law, Code, Register

Florida Department of State and Division of Library and Information Services


Notice: 29496747
Notice of Meeting/Workshop Hearing

Division:	Florida Local Government Finance Commission


Overview



	The Florida Local Government Finance Commission announces a hearing to which all persons are invited.

DATE AND TIME:	May 1, 2025, 11:00 a.m.

PLACE:	Via telephone conference by calling 1 (877) 304-9269 and entering passcode 359237#

Subject:	For the purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), notice is hereby given that the Florida Local Government Finance Commission (the "Issuer") will hold a public hearing on May 1, 2025, at 11:00 A.M., or as soon thereafter as practicable. In accordance with Internal Revenue Service Revenue Procedure 2022-20, this public hearing will be held by telephone conference. Interested persons are encouraged to attend the telephone conference using the following instructions: TELEPHONE CONFERENCE INSTRUCTIONS: TOLL-FREE DIAL IN NUMBER: 1 (877) 304-9269 PASSCODE: 359237# The public hearing is being conducted for the purpose of receiving comments and hearing discussion concerning the proposed adoption by the Issuer of a resolution approving the issuance and sale by the Issuer of not exceeding $225,000,000 of its Florida Local Government Finance Commission Educational Facilities Revenue Bonds (BridgePrep Academy Projects) to be issued in one or more tax-exempt and/or taxable series of qualified 501(c)(3) bonds, as defined in Section 145 of the Code (collectively, the "Bonds"), pursuant to a plan of finance. The proceeds of the Bonds, when and if issued, will be loaned to BridgePrep Academy, Inc., a Florida not-for-profit corporation (the "Borrower"). The proceeds will be used by the Borrower for the purposes of: (a) financing and refinancing (including through reimbursement) all or a portion of the costs of various capital expenditures described below (the "Project"); (b) funding necessary reserves and capitalized interest related to the Bonds, if deemed necessary or desirable; and (c) paying certain costs of issuance associated with the Bonds. The Project to be financed and refinanced with the proceeds of the Bonds includes the cost of acquiring, constructing, equipping, and/or improving the following existing public charter school facilities, including land and rights in land, consisting of: (i) BridgePrep Academy of Collier, serving students in grades K-8, located at 3161 Santa Barbara Blvd., Naples, Collier County, Florida 34116 (anticipated to be allocated a maximum aggregate principal amount of $11,000,000 of the Bonds); (ii) BridgePrep Academy of Doral, serving students in grades K-9, located at 3500 NW 89th Ct., Doral, Miami-Dade County, Florida 33172 (anticipated to be allocated a maximum aggregate principal amount of $56,000,000 of the Bonds); (iii) BridgePrep Academy of Village Green, serving students in grades K-12, located at 13300 SW 120 St., Miami, Miami-Dade County, Florida 33186 (anticipated to be allocated a maximum aggregate principal amount of $57,000,000 of the Bonds); (iv) BridgePrep Academy of Orange, serving students in grades K-8, located at 5710 La Costa Dr., Orlando, Orange County, Florida 32807 (anticipated to be allocated a maximum aggregate principal amount of $11,000,000 of the Bonds); (v) BridgePrep Academy of St. Cloud, serving students in grades K-8, located at 3691 Old Canoe Creek Rd., St. Cloud, Osceola County Florida 34769 (anticipated to be allocated a maximum aggregate principal amount of $31,000,000 of the Bonds); (vi) BridgePrep Academy of Osceola, serving students in grades K-8, located at 4851 Koa St., Kissimmee, Osceola County Florida 34758 (anticipated to be allocated a maximum aggregate principal amount of $27,000,000 of the Bonds); and (vii) BridgePrep Academy of Polk, serving students in grades K-8, located at 2045 Florence Villa Grove Rd., Davenport, Polk County Florida 33897 (anticipated to be allocated a maximum aggregate principal amount of $32,000,000 of the Bonds). The Project will be owned by the Borrower and will continue to be operated as public charter schools by the Borrower (or an entity or entities affiliated with or designated thereby pursuant to one or more qualified use or management agreements). The Bonds shall be payable solely from the revenues derived by the Issuer from a loan agreement, mortgage and security agreement and other financing documents entered into by and between the Issuer and the Borrower prior to or contemporaneously with the issuance of the Bonds. Such Bonds and the interest thereon shall not constitute an indebtedness or pledge of the general credit or taxing power, if any, of the Issuer, Brevard County, Charlotte County, Lee County, Osceola County, Sarasota County, St. Johns County, the State of Florida, or any political subdivision or agency thereof (including Collier County, Miami-Dade County, Orange County and Polk County or any of the School Districts in which the Facilities are located). The Issuer has no taxing power. Issuance of the Bonds shall be subject to several conditions including satisfactory documentation, the approval by bond counsel as to the tax-exempt status of the interest on all or a portion of the Bonds and receipt of necessary approvals for the financing. The aforementioned hearing shall be a public hearing and all persons in attendance will be given an opportunity to be heard and to express their views on the proposed issuance of the Bonds and the location and nature of the Project by accessing the telephone conference as indicated above. Written comments may also be submitted prior to the hearing to the Florida Local Government Finance Commission c/o Nabors Giblin & Nickerson, P.A. at 2502 N. Rocky Point Drive, Suite 1060, Tampa, Florida 33607, directed to Issuer's Counsel or via email sent to the following email address: rharb@ngn-tampa.com. Comments made at the hearing are for the consideration of the party(ies) providing an approval of the Bonds but will not bind the Issuer or such party(ies) as to any action it may take. ALL PERSONS FOR OR AGAINST SAID APPROVAL CAN BE HEARD AT SAID TIME AND PLACE. IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE ISSUER WITH RESPECT TO SUCH HEARING OR MEETING, (S)HE WILL NEED TO ENSURE THAT A VERBATIM RECORD OF SUCH HEARING OR MEETING IS MADE (AT THEIR SOLE COST AND EXPENSE), WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS BASED. Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in the meeting is requested to advise the Issuer at least twenty-four (24) hours prior to the meeting by contacting counsel to the Issuer at (813) 281-2222 or via email sent to the following email address: rharb@ngn-tampa.com. By order of the Florida Local Government Finance Commission. FLORIDA LOCAL GOVERNMENT FINANCE COMMISSION /s/ Nicole Jovanovski Chair


	A copy of the agenda may be obtained by contacting: Richard B. Harb by email at rharb@ngn-tampa.com or by telephone at 813-281-2222

PRINT PUBLISH DATE:	4/24/2025 Vol. 51/80


REFERENCE MATERIALS:	No reference(s).

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Overview