Date | County | City | Meeting Type | Item Type | Item | Description |
|---|---|---|---|---|---|---|
| 20250506 | San Bernandino County | Hesperia | City Council | Item | 9. Page 75 Resolution to consider approving the issuance of Tax -Exempt Bonds for the benefit of La Verne Elementary Preparatory Academy, and/or Related Entity Recommended Action: It is recommended that the City Council: 1. Conduct a public hearing regarding the proposed issuance of tax -exempt financing, in an amount not to exceed $22,000,000, for the benefit of 9966 I Ave, LLC, a California limited liability company whose sole member is LaVerne Elementary Preparatory Academy Foundation, a California nonprofit public benefit corporation, and/or a related entity (the “Borrower”). The financing would be used to (a) finance and/or refinance the costs of acquiring, constructing, installing, improving, furnishing, and equipping charter school facilities located at 16955 Lemon Street, Hesperia, California 92345, in the amount of $21,000,000, and 9966 I Avenue, Hesperia, California 92345, in the amount of $1,000,000; (b) fund a debt service reserve and related working capital; (c) paying capitalized interest on the bonds; and (d) pay issuance and other related costs associated with the project; and 2. Adopt a resolution approving the issuance of tax-exempt bonds in an amount not to exceed $22,000,000 by the California Public Finance Authority (CalPFA). Staff Person: Director of Development Services Nathan Freeman Attachments: SR La Verne Elementary Preparatory Bond Approval 5-6-2025 Resolution 2025-13 | May 06, 2025 San Bernandino County Hesperia City Council Item #9 |