Details for NOTICE OF MEETING AND PUBLIC HEARING
NOTICE OF MEETING AND PUBLIC HEARING
Notice is hereby given that the governing body of The Health and Educational Facilities Board of the City of Franklin (the “Issuer”), will convene in a public meeting (with limited capacity seating due to COVID-19 pandemic guidelines) and conduct a public virtual hearing, at 9:00 a.m. on Tuesday, January 12, 2021, in the Franklin City Hall Board Room, 109 Third Avenue South, Franklin, Tennessee, concerning the proposed issuance of tax-exempt obligations (the “Obligations”) in the maximum aggregate face amount of $12,750,000 by the Issuer, a public corporation organized and existing under Part 101, Chapter 3, Title 48, of the Tennessee Code Annotated, as amended (the “Act”) and conduct such other business that may properly come before the Issuer. If approved the Obligations will be issued pursuant to the authority and provisions of the Act.
The Issuer proposes to use the proceeds of the Obligations to (A) finance, and refinance outstanding debt previously incurred to finance, the acquisition, construction, installation, and equipping of educational facilities located at 818 Old Charlotte Pike East, Franklin, Tennessee 37064 (main campus address), to be owed and used by Franklin Christian Academy, a Tennessee nonprofit corporation (the “Borrower”) with said new improvements including without limitation the following: (i) eight classrooms; (ii) two rooms for performing and visual arts studios; (iii) cafeteria/commons area with kitchen; (iv) office space; (v) athletic fields (football, soccer, baseball) (vi) parking facilities; and/or (vii) other ancillary capital improvements; and (B) pay the costs of issuance (collectively, the “Project”). The Issuer further proposes to loan the proceeds of the Obligations to the Borrower for use for the foregoing purposes at the foregoing location by Borrower in exchange for Borrower agreeing to make payments at such times and in such amounts as shall be sufficient to provide for the due and punctual payment of the Obligations.
The Issuer will conduct a public hearing pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended, in connection with the consideration of the issuance of the Obligations and the location and nature of the facilities financed and/or refinanced with the proceeds thereof. At such public hearing there will be an opportunity for persons to express their views concerning the foregoing.
Anyone may participate in the public hearing during the call or submit written comments to be considered thereat. Dial-in instructions (which constitutes a toll free number for users) for the virtual hearing are as follows: toll-free telephone line 1-312-626-6799, input meeting identification number of 952 2299 9828 and passcode: 561537 (may be prompted to enter # sign after entering the passcode). Callers will be unmuted and given an opportunity to comment during the meeting at specific times. Members of the public may email comments and questions prior to 8:30 a.m. on the date of the meeting to email@example.com to be read aloud at the meeting. Live comments and those submitted by email will be limited to 2 minutes. The meeting will also be broadcast in live stream on the City of Franklin’s facebook page and youtube accounts (City of Franklin youtube account can be found at https://www.youtube.com/user/CityOfFranklin and the City of Franklin facebook account can be found at https://ww.facebook.com/CityofFranklin. The meeting will also be broadcast on FranklinTV or the City of Franklin website which can be found at https://www.franklintn.gov/franklin-tv. The Issuer has made accommodations to comply with Revenue Procedure 2020-21 for purposes of the public hearing in connection with the proposed issuance of the Obligations for the Project. Additional information concerning the above meeting, public hearing or proposed Project may be obtained from James T. Oglesby, Esq., Schell & Oglesby, LLC, 509 New Highway 96 West, Suite 201, Franklin, Tennessee 37064, (Phone: 615‑550‑2800), serving as counsel to the Issuer. The meeting and hearing are open to the public (with limited physical access due to current limitations on public gatherings due to the COVID-19 pandemic) and all interested persons are invited to participate.
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