2024-5444
Consideration and action upon a resolution authorizing an in-person public hearing as required by §147(f) of the Internal Revenue Code of 1986 (the “Code”) to be held by Oklahoma County and Dove Charter Public School Foundation, Inc. with respect to the proposed issuance by the Arizona Industrial Development Authority, a nonprofit corporation designated as a political subdivision of the State of Arizona (“AZIDA”), of its Charter School Revenue Bonds, to be issued pursuant to a plan of financing within the meaning of Section 147(f)(2)(C) of the Code in one or more series or issues from time to time (qualified 501(c)(3) bond as defined in section 145 of the Code) (the “Bonds”), in an amount not to exceed $35,000,000 with respect to the Project (as defined below). A portion of the proceeds from the sale of the Bonds will finance a loan by the Lender to Dove Charter Public School Foundation, Inc. (the “Corporation). The Corporation is a duly organized and validly existing Oklahoma not for profit corporation. The loan to the Corporation to be made by the Lender will (i) finance and refinance the acquisition, construction, expansion, remodeling, renovation, improvement, furnishing and/or equipping of the Dove Schools, Inc. campus facilities located at 4343 S. 118th E. Avenue, Tulsa, Oklahoma ($11,000,000), 280 South Memorial Drive, Tulsa, Oklahoma ($2,000,000), 5537 NW Expressway, Oklahoma City, Oklahoma ($3,000,000), 919 NW 23rd Street, Oklahoma City, Oklahoma ($2,000,000), 7202 S I-35 Service Road, Oklahoma City, Oklahoma ($3,000,000), 7124 S I-35 Service Road, Oklahoma City, Oklahoma ($2,000,000), and 1211 E I-240 Service Road, Oklahoma City, Oklahoma ($15,000,000) (the “Project”), that will be leased to and operated by Dove Schools, Inc. (“Dove Schools”), an Oklahoma not for profit corporation and (ii) pay costs associated with the closing of the loan. The Project is and will be owned by the Corporation and leased to and operated by Dove Schools. The resolution appoints J. Kelly Work, Attorney at Law, as hearing officer to conduct the public hearing and report the results to the Board of County Commissioners.
- Committee
- Board of County Commissioners
- Requested by
- Finance Authority
- Introduced
- December 6, 2024
- On agenda
- December 11, 2024
- Passed
- December 11, 2024