SUPPLEMENTAL NOTICE OF PUBLIC HEARING
NOT EXCEEDING $29,000,000
LOUISIANA PUBLIC FACILITIES AUTHORITY
(JS CLARK LEADERSHIP ACADEMY CHARTER SCHOOL PROJECT)
NOTICE IS HEREBY GIVEN that the Louisiana Public Facilities Authority (the “Authority”) will hold a public hearing on September 26, 2023, at Ten Thirty o’clock (10:30) A.M. at the offices of the Authority, 2237 South Acadian Thruway, Suite 650, Baton Rouge, Louisiana, with respect to the captioned revenue bonds (the “Bonds”). The Bonds are proposed to be issued by the Authority in one or more series pursuant to a plan of finance in an aggregate face amount not to exceed $29,000,000, and the proceeds of the Bonds are to be loaned by the Authority to Friends of JS Clark Leadership Academy, a Louisiana nonprofit corporation (the “Corporation”), for the purposes of (i) financing, including reimbursement, of capital expenditures in connection with the (a) acquisition, construction, and equipping of a new facility (the “New Facility”), including the acquisition of land in connection therewith and capitalized interest, if any, for the operation of JS Clark Leadership Academy (the “School”), a kindergarten through twelfth grade, tuition free, public charter school in Opelousas, Louisiana, and the maximum amount of Bond proceeds to be expended for this purpose is not to exceed $25,000,000 and (b) renovation of the School’s existing facility (the “Existing Facility”) for continued operation of the School, and the maximum amount of Bond proceeds to be expended for this purpose is not to exceed $1,000,000, (ii) refinancing one or more loans associated with (i)(b) above, and the maximum amount of Bond proceeds to be expended for this purpose is not to exceed $1,000,000, (iii) funding a reserve fund, and (iv) paying costs of issuance associated therewith. The initial and exclusive owner of the New Facility is the Corporation, which will lease the New Facility to Outreach Community Development Corporation, Inc. (the “Operator”) who operates the School. The New Facility will be located on approximately 73 acres located at the intersection of Coyote Ln and La. Highway 357 in Opelousas, Louisiana 70570. The Existing Facility will be owned by the Corporation, which will lease the Existing Facility to the Operator. The Existing Facility is located at 1517 Statesman Rd, Opelousas, LA 70570.
This supplemental notice is being given to clarify the ownership structure of the Existing Facility.
The Authority shall conduct the public hearing for the purpose of receiving comments on and hearing any objections (verbal or written) to the proposed issuance of the Bonds. All interested parties are invited to attend such public hearing to express their views. Questions or requests for additional information may be directed to Foley & Judell, L.L.P., Attorneys and Counsellors at Law, One Canal Place, 365 Canal Street, Suite 2600, New Orleans, Louisiana 70130 (504) 568-1249.
Persons who intend to appear at the hearing and express their view are invited to contact Ms. Patricia A. Dubroc, President and Chief Executive Officer of the Authority, at the Authority’s offices, either in writing or by telephone (225) 923-0020, in advance of the hearing. Any interested persons unable to attend the hearing may submit their views in writing to Ms. Dubroc prior to the date scheduled for the hearing. The location and time of the hearing may be changed or an additional hearing will be scheduled if requested to do so in written requests submitted to Ms. Dubroc prior to the aforementioned date of the hearing by a significant number of interested persons.
The Bonds will be secured solely by payments made by the Corporation, will not be payable from any other revenue of the Authority or the State of Louisiana, and will not constitute an indebtedness of the Authority or the State of Louisiana, within the meaning of any constitutional or statutory limitation of indebtedness.
This notice is published and the aforementioned public hearing is to be held in satisfaction of the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, regarding the public approval prerequisite to the exclusion from gross income for federal income tax purposes of the interest on the Bonds.
LOUISIANA PUBLIC FACILITIES AUTHORITY
September 15, 2023