Orlando Sentinel

NOTICE OF PUBLIC HEARING

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Notice is hereby given that a public hearing will be held by the Orange County Industrial Developmen­t Authority (the “Authority”) on Tuesday, June 16, 2020, at 2:00 p.m., at the offices of Holland & Knight LLP, 200 South Orange Avenue, Suite 2600, Orlando, Florida 32801, which meeting will also be accessible by calling the toll-free telephone number set forth below.

The public hearing will be held for the purpose of receiving comments and hearing discussion concerning a plan of financing involving the issuance by the Authority of not to exceed $51,000,000 in principal amount of revenue bonds or notes in one or more series (the “Bonds”) of the Authority, the proceeds of which will be loaned by the Authority to Lake Highland Preparator­y School, Inc., Lake Highland Preparator­y School Foundation, Inc. and OS Complex, Inc. each a Florida not-for-profit corporatio­n (collective­ly, the “Borrower”).

Proceeds of the Bonds in a principal amount not exceeding $26,000,000 are expected to be applied, together with other available funds, to refinance the obligation­s of the Borrower with respect to, and thereby refund, the Authority’s Industrial Developmen­t Refunding Revenue Bonds (Lake Highland Preparator­y School, Inc. Project), Series 2011 (the “2011 Bonds”), which refinanced the Authority’s Variable Rate Demand Revenue Refunding Bonds (Lake Highland Preparator­y School, Inc. Project), Series 2007 (the “2007 Bonds”), and paid the costs of issuing the 2011 Bonds. The 2007 Bonds (a) refinanced the Authority’s Variable Rate Demand Revenue Bonds (Lake Highland Preparator­y School, Inc. Project) Series 1998 (the “1998 Bonds”) and its Industrial Developmen­t Revenue Bonds (Lake Highland Preparator­y School, Inc. Project), Series 2005 (the “2005 Bonds”), (b) financed the constructi­on and equipping of an approximat­ely 29,000 square foot fine arts center located on the Borrower’s main campus at 901 North Highland Avenue, Orlando, Florida, (c) financed the acquisitio­n of approximat­ely 6 acres of land located on the north side of the body of water in Orlando, Florida, commonly known as “Lake Highland” and referred to as the “Lake Highland Preparator­y School O’Meara Sports Complex” as indicated by signage on Lake Highland Drive, (d) financed miscellane­ous equipment for the Borrower’s educationa­l facilities at 901 North Highland Avenue and 741 North Mills Avenue, Orlando, Florida, (e) paid the terminatio­n fee associated with interest rate swaps executed by the Borrower in connection with the 1998 Bonds, and (f) paid the costs of issuing the 2007 Bonds. The 2005 Bonds were issued in order to finance the acquisitio­n and renovation of the North Park Baptist Church, 741 North Mills Avenue, Orlando, Florida, for use as an educationa­l (private school) facility. The 1998 Bonds were issued principall­y to refinance certain debt of the Borrower and to finance constructi­on of a math/science building and a swimming pool, and an expansion of the cafeteria and a classroom building at 901 North Highland Avenue, Orlando, Florida.

Proceeds of the Bonds in a principal amount not exceeding $25,000,000 are expected to be applied, together with other available funds, (a) to finance or refinance the acquisitio­n, constructi­on, renovation and equipping of educationa­l facilities, including (i) the phased replacemen­t of Johnston and Hale Halls with a new multi-story academic building located at 901 Highland Avenue, Orlando, Florida, consisting of approximat­ely 70,000 gross square feet of new academic, administra­tive, upper school library, and support spaces, (ii) the relocation of an existing softball field and the constructi­on of a new multi-purpose gymnasium, parking lot improvemen­ts and an artificial turf field on or near Lake Highland Drive between Highland Avenue and Ferris Avenue, in Orlando, Florida, (iii) the demolition of Maxwell Hall and the renovation and improvemen­t of the Calkins Library, Rex Hall and Highland House, all of which are located at 901 Highland Avenue, Orlando, Florida, (iv) the renovation and improvemen­t of the Lake Highland Preparator­y School Annex located at 940 Highland Avenue, Orlando, Florida, (v) the acquisitio­n of the property known as the “American Heart Associatio­n Building” located at 236 Marks Street, Orlando, Florida, and (vi) other improvemen­ts to existing facilities or to build new facilities at the locations and for the purposes described herein, (b) to pay all or a portion of the terminatio­n fee associated with an interest rate swap executed by the Borrower in connection with the 2011 Bonds, and (c) to pay the costs of issuing the Bonds.

All of the improvemen­ts described above are or will be used in the integrated operation of a school and are or will be owned and operated by the Borrower and located on or in the general vicinity of the Borrower’s campuses at 901 Highland Avenue and 741 North Mills Avenue in Orlando, Florida (including on the north side of Lake Highland), as shown on the map below:

Payment of the Bonds shall be an obligation of the Borrower and such Bonds shall not constitute an indebtedne­ss or pledge of the credit or taxing power or any other type of obligation of Orange County, the Authority or any other Florida government­al entity or political subdivisio­n.

The public hearing can be accessed telephonic­ally by calling the following toll-free number at the designated time and entering the meeting ID:

(877) 853-5257 – Meeting ID: 981 7548 8149

All interested or affected taxpayers, property owners and citizens of Orange County, Florida, are invited to participat­e in this public hearing and, either personally or through their representa­tives, will be given an opportunit­y to express their views concerning the proposed project and the issuance of the proposed Bonds. Anyone desiring to make written comments may file them with the Authority c/o Holland & Knight LLP, 200 South Orange Avenue, Suite 2600, Orlando, Florida 32801, Attention: Glenn Adams. Comments made at the hearing are for the considerat­ion of the Authority and will not bind the Authority to any action it may take. Any person requiring reasonable accommodat­ion at this meeting because of a disability or physical impairment should contact the Holland & Knight LLP at (407) 425-8500 at least 48 hours prior to the meeting.

SHOULD ANY PERSON DECIDE TO APPEAL ANY DECISION MADE BY THE AUTHORITY WITH RESPECT TO ANY MATTER CONSIDERED AT SUCH HEARING, SUCH PERSON WILL NEED A RECORD OF THE PROCEEDING­S AND, FOR THAT PURPOSE, SUCH PERSON MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING­S IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED.

This notice is given pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended.

ORANGE COUNTY INDUSTRIAL DEVELOPMEN­T AUTHORITY

By: /s/ Casey Barnes, Secretary

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