City of esperia
NOTICE OF PUBLIC HEARINGS HESPERIA
NOTICE IS HEREBY GIVEN that Public Hearings will be held before the Hesperia City Council, City of Hesperia, California on the following date:
DATE OF HEARINGS: May 6, 2025 (Tuesday)
TIME OF HEARINGS: 6:30 p.m., or as soon thereafter as possible PLACE OF HEARINGS: City of Hesperia, Council Chambers, 9700 Seventh Avenue, Hesperia, CA 92345 FOR THE FOLLOWING PURPOSE:
1. A public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 will be held by the City of Hesperia (the "City") with respect to the proposed issuance by the California Public Finance Authority (the "Issuer") of taxable and/or tax-exempt revenue bonds (intended to be issued as qualified 501(c)(3) bonds pursuant to Section 145 of the Code) pursuant to a plan of financing, and in one or more series from time to time, in an aggregate principal amount not to exceed $22,000,000 (the "Bonds"), for the benefit of 9966 | Ave, LLC, a California limited liability company, the sole member of which is LaVerne Elementary Preparatory Academy Foundation (the "Foundation"), a nonprofit public benefit corporation duly organized and existing under the laws of the State of California (the "State") and an organization described in Section 501(c)(3) of the Code, and/or a related entity (collectively, the "Borrower"). The Issuer will loan the proceeds of the Bonds to the Borrower pursuant to one or more loan agreements (collectively, the "Loan Agreement"). The proceeds of the Bonds loaned to the Borrower will be applied to purposes of: (i) financing, refinancing and/or reimbursing the Borrower for the cost of acquisition, construction, installation, improvement, furnishing and equipping of certain charter school educational facilities located at (1) 16955 Lemon Street, Hesperia, California 92345 (the "Lemon Street Facilities"), in the amount of $21,000,000, and (2) 9966 | Avenue, Hesperia, California 92345 (the "I Avenue Facilities" and, together with the Lemon Street Facilities, the "Facilities"), in the amount of $1,000,000, (i) paying capitalized interest on the Bonds, (iii) funding a debt service reserve fund and related working capital, and (iv) paying certain costs of issuance and other related costs in connection with such financing. The Facilities are to be owned by the Borrower and leased to Ed. Brokers Education Services (the "Lessee"), a California nonprofit public benefit corporation and an organization described in Section 501(c)(3) of the Code, and operated as a public charter school known as LaVerne Elementary Preparatory Academy by Lessee, with the Lemon Street Facilities serving approximately 200 students in grades 6 and 7 and the | Avenue Facilities serving approximately 490 students in transitional kindergarten through grade 5.
The Bonds will be paid entirely from repayments by the Borrower under the Loan Agreement. i aporat interest on, the Bond. The PuSic Hearing is intended to tomy write plotic approval if any, or interest on, the Bonds.
requirements of Section 147(f) of the Code.
All persons interested may appear and be heard at said time and place or may file a written expression of their views with the City Clerk of the City prior to the date of the Public Hearing set forth above. Written comments should be sent to the City Clerk's Office, City of Hesperia, 9700 Seventh Avenue, Hesperia, California 92345.
Notice of Public Hearings
May 6, 2025
If you challenge these proposals in court, you may be limited to raising only those issues you, or someone else raised at the public hearings described in this Public Hearing Notice, or in written correspondence delivered to the City Clerk at, or prior to the public hearings.
Any person interested in the proposals may contact the City Clerk's Office at 9700 Seventh Avenue, Hesperia, California, 760.947.1007 during normal business hours. The pertinent information will be available for public inspection at the above address.
Wednesday, April 23, 2025 at 5:30 p.m. pursuant to California Government Code and Hesperia Resolution No. 2007-101.
Hessee.
Jessica Giber
Assistant City Clerk
NOTICE OF PROPOSED FINANCING
BY THE CALIFORNIA PUBLIC FINANCE AUTHORITY
NOTICE IS HEREBY GIVEN that the City Council of the City of Hesperia (the "City") will meet on May 6, 2025, at or after 6:30 p.m., at the City of Hesperia, Council Chambers, 9700 Seventh Avenue, Hesperia, California 92345, and hold a public hearing (the "Public Hearing"), as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), with respect to the proposed issuance by the California Public Finance Authority (the "Issuer") of taxable and/or tax-exempt revenue bonds (intended to be issued as qualified 501(c)(3) bonds pursuant to Section 145 of the Code) pursuant to a plan of financing, and in one or more series from time to time, in an aggregate principal amount not to exceed $22,000,000 (the "Bonds"), for the benefit of 9966 I Ave, LLC, a California limited liability company, the sole member of which is LaVerne Elementary Preparatory Academy Foundation (the "Foundation"'), a nonprofit public benefit corporation duly organized and existing under the laws of the State of California (the "State") and an organization described in Section 501(c)(3) of the Code, and/or a related entity (collectively, the "Borrower"). The Issuer will loan the proceeds of the Bonds to the Borrower pursuant to one or more loan agreements (collectively, the "Loan Agreement"). The proceeds of the Bonds loaned to the Borrower will be applied to purposes of: (i) financing, refinancing and/or reimbursing the Borrower for the cost of acquisition, construction, installation, improvement, furnishing and equipping of certain charter school educational facilities located at (1) 16955 Lemon Street, Hesperia, California 92345 (the "Lemon Street Facilities"), in the amount of $21,000,000, and (2) 9966 I Avenue, Hesperia, California 92345 (the "I Avenue Facilities" and, together with the Lemon Street Facilities, the "Facilities"), in the amount of $1,000,000, (ii) paying capitalized interest on the Bonds, (ili) funding a debt service reserve fund and related working capital, and (iv) paying certain costs of issuance and other related costs in connection with such financing. The Facilities are to be owned by the Borrower and leased to Ed. Brokers Education Services (the "Lessee"), a California nonprofit public benefit corporation and an organization described in Section 501(c)(3) of the Code, and operated as a public charter school known as LaVerne Elementary Preparatory Academy by Lessee, with the Lemon Street Facilities serving approximately 200 students in grades 6 and 7 and the I Avenue Facilities serving approximately 490 students in transitional kindergarten through grade
5. The Bonds will be paid entirely from repayments by the Borrower under the Loan Agreement.
Neither the faith and credit nor the taxing power of the City, the State, or any other political corporation, subdivision or agency of the State is pledged to the payment of the principal of, premium, if any, or interest on, the Bonds, nor shall the City, the State or any other political corporation, subdivision or agency of the State be liable or obligated to pay the principal of, premium, if any, or interest on, the Bonds. The Public Hearing is intended to comply with the public approval requirements of Section 147(f) of the Code.
All persons interested may appear and be heard at said time and place or may file a written expression of their views with the City Clerk of the City prior to the date of the Public Hearing set forth above. Written comments should be sent to the City Clerk's Office. City of Hesperia, 9700 Seventh Avenue, Hesperia, California 92345.
Date: April 27, 2025
CITY OF HESPERIA
CITY CLERK
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