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1. 1/16/2019
PUBLIC NOTICE - - - NOT TO EXCEED $34,000,000 LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY REVENUE BONDS PROVIDENT GROUP ULM PROPERTIES LLC UNIVERSITY OF LOUISIANA AT MONROE PROJECT) IN ONE OR MORE SERIES NOTICE OF PUBLIC HEARING Notice is hereby given that the Louisiana Local Government Environmental Facilities and Community Development Authority (the "Authority"), will conduct a public hearing at the offices of the Authority, 5420 Corporate Blvd., Suite 205, Baton Rouge, Louisiana 70808 (the "Authority Address") at 11:00 a.m. local time on February 5, 2019 with respect to the issuance of certain revenue bonds titled "Louisiana Local Government Environmental Facilities and Community Development Authority Revenue Bonds (Provident Group ULM Properties LLC University of Louisiana at Monroe Project), in one or more series, in an aggregate principal amount not to exceed $34,000,000 (the "Bonds"). The Bonds are being issued by the Authority on behalf of Provident Group - ULM Properties LLC (the "Borrower"), a single member limited liability company organized and existing under the laws of the State of Louisiana, whose sole member is Provident Resources Group Inc., a non-profit corporation exempt from federal income tax under Section 501(a) of the Internal Revenue Code of 1986, as amended (the "Code"), as an organization described under Section 501(c)(3) of the Code, for the purpose of (i) financing the acquisition, construction, furnishing, and equipping of a student housing facility, including the buildings, furniture, fixtures, and equipment therefor (together with associated site development and various related amenities and improvements, the "Facilities") on the campus of the University of Louisiana at Monroe, in the City of Monroe, Louisiana, (ii) providing working capital necessary in connection with the operation of the Facilities, if necessary, (iii) funding a deposit to a debt service reserve fund, if necessary; (iv) funding capitalized interest on the Bonds, if necessary, and (v) paying costs of issuance of the Bonds (collectively, the "Project"). The Bonds shall be secured by payments under loan agreements or similar financing agreements (the "Payments") to be entered into by the Authority and the Borrower which Payments are secured by and payable by the Borrower from all revenues received by the Borrower from the operation of the Facilities. 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 Ty E. Carlos, Executive Director of the Authority, 5420 Corporate Blvd., Suite 205, Baton Rouge, Louisiana 70808, (225) 924-6150 or ty.carlos@louisiana cda.com Persons who intend to appear at the hearing and express their view are invited to contact the Authority's offices, either in writing to the Authority at the address above or by telephone (225) 924-6150, in advance of the hearing. Any interested persons unable to attend the hearing may submit their views in writing to the Authority at the address above prior to the date scheduled for the hearing. 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 LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY 323541-jan 16-1t
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2. 1/15/2019
PUBLIC NOTICE - - - LOUISIANA PUBLIC FACILITIES AUTHORITY On motion of Trustee Bordelon, seconded by Trustee Guidry, the following resolution was unanimously adopted: RESOLUTION A resolution making certain findings with respect to and authorizing the issuance of not exceeding $27,000,000 aggregate principal amount Louisiana Public Facilities Authority Revenue Bonds (Young Audiences Charter School Project), in one or more series on a taxable or tax-exempt basis; approving the form and authorizing the execution and delivery of a Trust Indenture, a Loan Agreement, and a Bond Purchase Agreement for the Bonds; approving the distribution of a Preliminary Limited Offering Memorandum and a final Limited Offering Memorandum for said Bonds; approving the sale of the Bonds; ratifying the publication of a Notice of Public Hearing and a Notice of Sale of Bonds; authorizing the execution of other documents in connection therewith; authorizing the officers and trustees of the Authority to do all things necessary to effectuate this resolution; and providing for other matters in connection with the foregoing. WHEREAS, the Louisiana Public Facilities Authority (the "Authority") is a public trust and public corpora┬Čtion of the State of Louisiana (the "State") created and existing pursuant to the provisions of Chapter 2-A of Title 9 of the Louisiana Revised Statutes of 1950, as amended (the "Act"), and is authorized and empowered by law, including particularly the provisions of the Act, to issue its revenue bonds for the purpose of financing, refinancing, acquiring, constructing, purchasing, equipping, maintaining, installing, leasing, subleasing, holding, extending, enlarging, remodeling, storing, operating, repairing and administering educational services and facilities; and WHEREAS, Friends of Young Audiences Charter Association (the "Corporation") has requested that the Authority issue not exceeding $27,000,000 Louisiana Public Facilities Authority Revenue Bonds (Young Audiences Charter School Project), in one or more series on a taxable or tax-exempt basis (the "Bonds"), pursuant to one or more Trust Indentures (collectively, the "Trust Indenture"), between the Authority and Regions Bank, as trustee (the "Trustee"), and loan the proceeds of the Bonds to the Corporation pursuant to one or more Loan Agreements (collectively, the "Loan Agreement"), between the Authority and the Corporation; and WHEREAS, the Authority adopted a resolution on June 12, 2018, authorizing the execution of a preliminary agreement between the Authority and the Corporation and the issuance of the Bonds for the purpose of (i) financing the acquisition, construction, renovation and equipping of a kindergarten through twelfth grade, tuition free, public charter school in Gretna, Louisiana including the acquisition of land in connection therewith, to be known as Young Audiences Charter School (the "Project"), (ii) paying capitalized interest, (iii) funding a reserve fund for the Bonds, and (iv) paying the costs of issuance of the Bonds; and WHEREAS, the aforesaid resolution of June 12, 2018 also authorized the publication of a Notice of Public Hearing and Notice of Sale of Bonds; and WHEREAS, pursuant to the Loan Agreement, the Corporation will agree to make payments in an amount sufficient to make timely payments of principal of, premium, if any, and interest on the Bonds and to pay such other amounts as are required thereunder; and WHEREAS, the State Bond Commission (the "Commission") on October 18, 2018, granted its approval of the issuance of the Bonds; and WHEREAS, all requirements of the Commission evidenced by its rules and regulations, including but not limited to notice to local legislators, have been complied with; and WHEREAS, the Corporation has prepared a preliminary limited offering memorandum (the "Preliminary Limited Offering Memorandum") and will prepare a final offering memorandum (the "Limited Offering Memorandum") for use in connection with the offer and sale of the Bonds; and WHEREAS, the Corporation has submitted the Preliminary Limited Offering Memorandum and will submit the Limited Offering Memorandum to the Authority and Stifel, Nicolaus & Company (the "Underwriter"); and WHEREAS, the Underwriter proposes to arrange for the purchase of the Bonds in accordance with the terms of one or more bond purchase agreements among the Underwriter, the Corporation and the Authority (the "Bond Purchase Agreement") with respect to the Bonds; and WHEREAS, the Authority is authorized under the provisions of the Act and other constitutional and statutory authority to issue and sell the Bonds for such purposes and the Authority has determined that it is most advantageous to the Authority and necessary for it to issue its revenue bonds as hereinafter provided for the purposes hereinabove set forth; and WHEREAS, the Authority has determined that the issuance and sale of the Bonds and the use of the proceeds thereof as described herein will be in furtherance of the public purposes intended to be served by the Act; and WHEREAS, all consents and approvals required to be given by public bodies in connection with the authorization, issuance and sale of the Bonds as authorized by the Trust Indenture and as required by the Act have been or will be secured prior to the delivery of the Bonds; and WHEREAS, the Authority now desires to fix the details necessary with respect to the issuance and sale of the Bonds, to authorize the execution and delivery of the Loan Agreement, the Trust Indenture, the Bond Purchase Agreement and the Tax Regulatory Agreement, by and among the Authority, the Corporation and the Trustee (the "Tax Regulatory Agreement"), to ratify the publication of a Notice of Public Hearing and a Notice of Sale of Bonds, to authorize the sale of the Bonds and the award of the Bonds to the Underwriter pursuant to the Bond Purchase Agreement, and to provide for the execution of certain instruments, documents and certificates in connection therewith; NOW, THEREFORE, BE IT RESOLVED by the Board of Trustees of the Authority that: SECTION 1. It is in furtherance of the public purpose and within the power and authority vested in the Authority under the Act to provide funds for the financing of the Project through the issuance of the Bonds as limited and special revenue obligation bonds of the Authority. SECTION 2. The Bonds are hereby authorized to be issued, sold and delivered to the Underwriter pursuant to the provisions of the Act and the Bond Purchase Agreement for the purpose of (i) financing the acquisition, construction, renovation and equipping of a kindergarten through twelfth grade, tuition free, public charter school in Gretna, Louisiana including the acquisition of land in connection therewith, to be known as Young Audiences Charter School, (ii) paying capitalized interest, (iii) funding a reserve fund for the Bonds, and (iv) paying the costs of issuance of the Bonds. The financing of the Project through the issuance of the Bonds will foster and be in furtherance of the objectives of the Act by providing for and assisting in furthering the educational purposes of the State and its inhabitants. The Bonds shall be issued in the total aggregate principal amount of not exceeding $28,000,000 and shall be issued as fixed rate bonds bearing interest at rates not to exceed 8% per annum, as set forth in the Bond Purchase Agreement, shall mature not later than 38 years from the date thereof, all as provided in the Bond Purchase Agreement, and shall be designated as "Louisiana Public Facilities Authority Revenue Bonds (Young Audiences Charter School Project) Series 2019A" or "Louisiana Public Facilities Authority Taxable Revenue Bonds (Young Audiences Charter School Project) Series 2019B," as applicable. SECTION 3. The Authority hereby awards the Bonds to the Underwriter pursuant to and upon the terms and conditions of the Bond Purchase Agreement and the Notice of Sale of Bonds. The sale of the Bonds to the Underwriter at a price of not less than 90% of the principal amount thereof (inclusive of underwriter's discount in an amount not exceeding 3% of the principal amount thereof) is hereby approved. The Chairman or Vice Chairman of this Board of Trustees is hereby authorized, empowered and directed to execute, for and on behalf of the Authority, the Bond Purchase Agreement and any exhibits thereto or certificates required thereby. The Bond Purchase Agreement is hereby approved in substantially the form presented at this meeting with such additions, omissions and changes as may be approved by bond counsel to the Authority ("Bond Counsel"). SECTION 4. The execution and delivery of the Bond Purchase Agreement by the Authority, in substantially the form presented at this meeting with such additions, omissions and changes as may be approved by Bond Counsel is hereby approved. The signatures of the Chairman or Vice Chairman and Secretary-Treasurer or Assistant Secretary on the Bond Purchase Agreement are deemed to be conclusive evidence of their due exercise of the authority vested in them hereunder. SECTION 5. The form, terms and provisions of the Loan Agreement, the Tax Regulatory Agreement, and the Trust Indenture are hereby approved in substantially the same form as submitted to the Authority and filed with the official minutes of the Board of Trustees of the Authority, all of the provisions of which are hereby made a part of this resolution, with such additions, omissions and changes as may be approved by Bond Counsel. The Chairman or Vice Chairman and the Secretary-Treasurer or an Assistant Secretary of the Authority be and they are hereby authorized, empowered and directed to execute the Loan Agreement, the Trust Indenture, and the Tax Regulatory Agreement for, on behalf of and in the name of the Authority, in accordance with the provisions and requirements of the Act. The Bonds are issued under and secured by the Trust Indenture which provides a complete description of the pledged property and revenues constituting the Trust Estate as defined in the Trust Indenture (including payments under the Loan Agreement, the Lease Agreement between the Corporation and Young Audiences Charter Association, a mortgage on the facilities, and an assignment of rents of the Corporation); the nature and extent of the security; a statement of the terms and conditions on which the Bonds are issued and secured; the rights, duties and obligations of the Authority; the rights, duties and immunities of the Trustee; and the rights of the owners of the Bonds. The Bonds will be limited and special obligations of the Authority and are payable solely out of the income, revenues and receipts derived by the Authority from payments made by the Corporation under the Loan Agreement. The Bonds are hereby expressly authorized to be signed by the Chairman or Vice Chairman of the Authority, said signatures shall be attested by the signature of the Secretary-Treasurer or an Assistant Secretary of the Authority, and the signatures of the Chairman or Vice Chairman and Secretary-Treasurer or Assistant Secretary may be evidenced by their facsimile signatures. The Bonds are limited and special obligations of the Authority and do not constitute or create an obligation, general or special, debt, liability or moral obligation of the State or of any political subdivision thereof, within the meaning of any constitutional or statutory provisions whatsoever, and neither the faith or credit nor the taxing power of the State or of any political subdivision thereof is pledged to the payment of the principal of, premium, if any, or the interest on the Bonds. The Bonds are not general obligations of the Authority (which has no taxing power and receives no funds from any governmental body), but they are limited and special revenue obligations of the Authority payable from the income, revenues and receipts derived or to be derived from payments made pursuant to the Loan Agreement and the Promissory Note. SECTION 6. The Authority hereby ratifies the publication of (i) the Notice of Public Hearing in The Advocate and The New Orleans Advocate on July 4, 2018, and (ii) the Notice of Sale of Bonds in The Advocate on December 11, 2018 and The Daily Journal of Commerce on December 10, 2018. SECTION 7. This Board of Trustees does hereby authorize the distribution by the Underwriter of the Preliminary Limited Offering Memorandum and Limited Offering Memorandum in connection with the sale of the Bonds; provided, however, that neither this Board of Trustees nor the Authority makes any representation or warranty, either express or implied, as to the accuracy or completeness of the information contained therein (other than under the headings "Introduction - The Authority" and "Absence of Material Litigation B the Authority"). The Chairman or Vice Chairman of this Board of Trustees is hereby authorized, empowered and directed to execute and deliver the Limited Offering Memorandum to the Underwriter in accordance with the terms of the Bond Purchase Agreement. SECTION 8. The Chairman or Vice Chairman and Secretary-Treasurer or Assistant Secretary of the Authority shall have prepared and shall execute, for and on behalf of the Authority, the Bonds, and shall deliver the same to the Trustee for authentication. The Trustee shall, upon authentication of the Bonds, deliver the same to the Underwriter in accordance with the Trust Indenture and the Bond Purchase Agreement and shall receive from the Underwriter for the account of the Authority the purchase price and shall hold the proceeds of the Bonds in the funds and accounts as prescribed in the Trust Indenture. The Trustee is hereby requested and authorized to authenticate the Bonds. SECTION 9. The Chairman or the Vice Chairman and the Secretary-Treasurer or an Assistant Secretary of the Authority are hereby further authorized and directed, for and on behalf of the Authority, to accept, receive, execute, seal, attest and deliver all such documents, certificates and other instruments as are required, necessary, convenient and appropriate in connection with the authorization, issuance, sale and delivery of the Bonds, the Loan Agreement, the Tax Regulatory Agreement, the Bond Purchase Agreement, and the Trust Indenture, and to take such further action as may be required by the Commission or Bond Counsel or appropriate or required by law in connection with the authorization, issuance, sale and delivery of the Bonds. Said officers are hereby further authorized and directed to approve for, on behalf of, and in the name of the Authority any changes, additions or deletions in any of the documents, instruments or certificates referred to in this resolution, provided that all such changes, additions or deletions, if any, shall be approved by Bond Counsel and shall be consistent with the authority provided by the Act. The signatures of the said Chairman, Vice Chairman, Secretary-Treasurer and/or Assistant Secretary upon such documents set forth above, or as may be otherwise required for or necessary, convenient or appropriate to the financing described in this resolution, are deemed to be conclusive evidence of their due exercise of the authority vested in them hereunder. SECTION 10. The Chairman or Vice Chairman of the Authority are hereby further authorized to take such action as is necessary, on the advice of Bond Counsel, to effectuate and implement this resolution including the publication hereof as required by the Act. SECTION 11. By virtue of applicant/issuer's application for, acceptance and utilization of the benefits of the Louisiana State Bond Commission's approval(s) resolved and set forth herein, it resolves that it understands and agrees that such approval(s) are expressly conditioned upon, and it further resolves that it understands, agrees and binds itself, its successors and assigns to, full and continuing compliance with the "State Bond Commission Policy on Approval of Proposed Use of Swaps, or other forms of Derivative Products Hedges, Etc.", adopted by the Commission on July 20, 2006, as to the borrowing(s) and other matter(s) subject to the approval(s), including subsequent application and approval under said Policy of the implementation or use of any swap(s) or other product(s) or enhancement(s) covered thereby. SECTION 12. This resolution shall be published one time in the official journal of the Authority. SECTION 13. This resolution shall become effective immediately. This resolution having been submitted to a vote, the vote thereon was as follows: Member Yea: Ronald H. Bordelon, Guy Campbell III, Craig A. Cheramie, Michael C. Darnell, Casey R. Guidry Nay: None Absent: Larry Ferdinand, David W. Groner Abstaining: None This resolution declared adopted on this 8th day of January, 2019. * * * * * * * * * * (Other items of business not pertinent to the foregoing resolution and the documents mentioned therein may be found in the official minutes of the Board of Trustees of the Authority.) Upon motion duly made, seconded and unanimously carried, the meeting was adjourned. 322803-jan 15-1t
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