June 17, 2008
Board of Supervisors
County of Albemarle, Virginia
401 McIntire Road
Charlottesville, Virginia 22902
Industrial Development Authority of Albemarle County,
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
Certificate of Public Hearing
Resolution of IDA
Fiscal Impact Statement
Board of Supervisors Resolution
Return to consent agenda
Return to Regular agenda