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FC CAgE <br /> <br /> CONSIDER RESOLUTION CALLING FOR PUBLIC HEARING <br />ON ISSUANCE OF REVENUE BONDS TO FINANCE CHARTER SCHOOL <br />By: James E. Norman, City Administrator <br /> <br />Background: <br /> <br />As the Finance Committee is aware, the Charter School, known as Parents Allied with Children <br />and Teachers (PACT), has made an initial request of the City to issue a Tax-Exempt Bond to <br />finance the charter school (request attached). The process requires the issuance of a revenue <br />bond which has been performed in the past for industrial projects and it is a pass-through <br />bonding process. To initiate the revenue bonding process, the City would be required to call a <br />public hearing to seek comment on issuance of the revenue bonds to finance the Charter School <br />facilities. A resolution calling for the public hearing and authorizing publication of notice for the <br />hearing has been prepared for Committee action (attached). <br /> <br />Committee Action: <br /> <br />Motion to recommend City Council adopt Resolution #03-05-XXX calling for public hearing of <br />issuance of revenue bonds to finance Charter School facilities, and authorizing the publication of <br />a notice of the hearing. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Finance Officer <br /> <br />FC: 05/13/03 <br /> <br /> <br />