June 17, 2008

 

 

Board of Supervisors

County of Albemarle, Virginia

401 McIntire Road

Charlottesville, Virginia 22902

 

 

Industrial Development Authority of Albemarle County, Virginia
Proposed Financing for St. Anne's - Belfield, Inc.

St. Anne's - Belfield, Inc. (the "Borrower") has requested that the Industrial Development Authority of Albemarle County, Virginia (the "Authority"), assist the Borrower in (1) acquiring, constructing and equipping  of a new academic village for students in pre-school through 8th grade at the Borrower's existing 29 acre lower school campus on Faulconer Drive in Albemarle County, Virginia (the "Lower Campus"), (2) financing working capital and capitalized interest, (3) financing routine capital expenditures at the Borrower's Lower Campus and (4) paying financing and issuance costs related to the issuance of the Bonds (collectively, the "Project") in Albemarle County, Virginia, by the issuance of its revenue bonds in an amount not to exceed $30,000,000 (the "Bonds").

As set forth in the resolution of the Authority attached hereto (the "Resolution"), the Authority has agreed to issue its Bonds as requested.  The Authority has conducted a public hearing on the proposed financing of the Project and has recommended that you approve the issuance of the Bonds as required by Section 147(f) of the Internal Revenue Code of 1986, as amended, and Section 15.2-4906 of the Code of Virginia of 1950, as amended.

Attached hereto is (1) a certificate evidencing the conduct of the public hearing and the action taken by the Authority, (2) the Fiscal Impact Statement required pursuant to Virginia Code Section l5.2-4907, and (3) the form of resolution suggested by counsel to evidence your approval.

 

                                ____(Signed) Mitchell E. Neuman_____________

                                Secretary, Industrial Development Authority

                                of Albemarle County, Virginia

 

 Attachments:

     Certificate of Public Hearing

     Resolution of IDA

     Fiscal Impact Statement

     Board of Supervisors Resolution

 

     Return to consent agenda

     Return to Regular agenda