NOTICE OF PUBLIC HEARING CONCERNING THE ISSUANCE OF THE PUBLIC FINANCE AUTHORITY EDUCATION REVENUE BONDS (WASHINGTON MONTESSORI PUBLIC CHARTER SCHOOL), SERIES 2025 NOTICE IS HEREBY GIVEN that on Wednesday, July 16, 2025, at 10:00 a.m., or as soon thereafter as the matter can be heard, a public hearing, as required by and in compliance with the provisions of Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), Section 66.0304(11)(a) of the Wisconsin Statutes, and Section 115C-218.37 of the North Carolina General Statutes, as amended, will be held by the designated hearing Officer of the Superintendent of Public Instruction of the State of North Carolina (the "Superintendent"), with respect to the proposed issuance of Education Revenue Bonds (Washington Montessori Public Charter School), Series 2025 (the "Bonds"), issued in one or more series, on a tax-exempt or taxable basis, in an aggregate maximum stated principal amount not to exceed $13,000,000 by the Public Finance Authority (the "Authority"), a commission organized under and pursuant to the provisions of Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes, as amended (the "Act"). The Bonds are expected to be issued pursuant to Section 66.0304 of the Wisconsin Statutes, as amended. The Authority has been requested to issue the Bonds and to lend the proceeds from the sale thereof to Washington Montessori Holdings, LLC, a North Carolina limited liability company (the "Borrower"). The Borrower will use such proceeds to, (a) refinance (i) a taxable loan in the original principal amount of $824,680 used by Washington Montessori, Inc., a North Carolina nonprofit corporation and an organization described in Section 501(c)(3) of the Code (the "School"), to construct and equip an approximately 7,574 square foot building used by the School for instruction in grades 1-3 (the "Lower Elementary Building") located at 2330 Old Bath Highway, Washington, North Carolina 27889 (the "Campus"), (ii) a taxable loan in the original principal amount of $909,260 used by the School to finance the construction and equipping of an approximately 7,911 square foot building located at the Campus and used by the School for instruction in grades 4-6 (the "Upper Elementary Building"), (iii) a taxable loan in the original principal amount of $1,475,456 used to finance the construction, furnishing and equipping of (A) an approximately 19,296 square foot high school building located at the Campus used by the School for instruction in grades 9-12 (the "High School Building"), (B) a gymnasium located at the Campus and (C) a parking lot located at the Campus, and (iv) a taxable loan in the original principal amount of $1,461,001 used to finance the construction and equipping of an approximately 9,740 square foot middle school building located at the Campus used by the School for instruction in grades 7-8 (the "Middle School Building" and, together with the Lower Elementary Building, the Upper Elementary Building and the High School Building, the "Prior Loans Facilities"); (b) finance (i) the construction, furnishing and equipping of an approximately 12,000 square foot, single-story building containing classrooms, a music room, administrative offices, a laundry room, a meeting room and a central kitchen area located at the Campus (the "2025 Facility" and, together with the Prior Loans Facilities, the "Facilities") and (ii) the renovation, furnishing and equipping of the Lower Elementary Building and the Upper Elementary Building, including without limitation the replacement and upgrading of case work, sinks, flooring and carpeting in classrooms, the replacement and upgrading of bathrooms, and the replacement of carpeting and flooring in administrative spaces; and (c) pay certain other costs related to the financing, including paying capitalized interest, funding reserves and paying costs of issuance of the Bonds (collectively, the "Project"). The School is the sole member of the Borrower. The Facilities will be owned by the Borrower and leased to the School, as the principal user of the Facilities, for use and operation as a public charter school in the City of Washington, in Beaufort County, North Carolina, pursuant to a Lease Agreement, as amended, by and between the Borrower and the School. All or a majority of the Bonds are expected to be issued as tax-exempt qualified 501(c)(3) bonds, and all of the Bonds will be special limited obligations of the Authority payable by the Authority solely from funds paid by the Borrower and shall be secured by collateral furnished or caused to be furnished by the Borrower. The Bonds will not constitute an indebtedness or a general obligation of the State of North Carolina, or any county, municipal corporation or political subdivision of the State of North Carolina, including the City of Washington, North Carolina or Beaufort County, North Carolina. The Bonds will not constitute a debt or liability of any member of the Authority, the State of Wisconsin or any political subdivision or agency thereof. The Bonds will not be paid from taxes. The public hearing will be held in Room 120B at the North Carolina Department of Public Instruction building located at 301 N. Wilmington Street, Raleigh, North Carolina 27601. It will provide an opportunity for all interested persons to express their views on the issuance of the Bonds and the financing of the Project. Any person interested in the issuance of the Bonds may provide oral comments in person at the public hearing. Any person wishing to submit written comments must do so no later than 9:00 a.m. on the day of the hearing by delivering such written comments to the Director of the Office of Charter Schools, 6301 Mail Service Center, Raleigh, North Carolina 27699-6301. This notice is given pursuant to the provisions of Section 147 of the Code and the Act. Additional information concerning the Project may be obtained from the School at its current mailing address of 2330 Old Bath Highway, Washington, North Carolina 27889, Attention: Executive Director. Maurice "Mo" Green, Superintendent of Public Instruction, State of North Carolina IPL0250372 Jul 7 2025