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NOTICE OF PUBLIC HEARING WITH RESPECT TO EDUCATION REVENUE BONDS (REVOLUTION ACADEMY), SERIES 2026 ISSUED BY THE PUBLIC FINANCE AUTHORITY IN AN AMOUNT NOT TO EXCEED $27,000,000 Notice is hereby given that public hearings, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code") and NCGS 115C-218.37, 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 (Revolution Academy), Series 2026 (the "Bonds"), issued in one or more series, issuances, and/or advances, as part of a plan of finance, on a tax-exempt or taxable basis, in an aggregate maximum stated principal amount not to exceed $27,000,000 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 first hearing will be held on February 12, 2026, in the lobby of Revolution Academy located at 3800 Oak Ridge Road, Summerfield, North Carolina 27358 at 11:00 a.m. (or as soon thereafter as the public hearing is held). The second hearing will be held on February 13, 2026, in Room 120B at the North Carolina Department of Public Instruction building located at 301 N. Wilmington Street, Raleigh, North Carolina 27601 at 10:00 a.m. (or as soon thereafter as the public hearing is held). The Bonds are expected to be issued pursuant to Section 66.0304 of the Wisconsin Statutes, as amended, and the proceeds from the sale of the Bonds will be loaned to Revolution Academy (the "Borrower"), a North Carolina nonprofit corporation designated as an exempt organization under Section 501(c)(3) of the Code, and used by the Borrower to (a)(i) finance and refinance (in an amount not to exceed $25,000,000) the costs of the acquisition, construction, equipping and furnishing of an approximately 65,000 square foot upper school for the Borrower, including site improvements, landscaping, athletic fields, parking and other appurtenant improvements located at 5322 Bunch Road in Summerfield, North Carolina 27358 and (ii) finance and refinance (in an amount not to exceed $2,000,000) the costs of renovations, improvements, equipping and furnishing of an existing facility of the Borrower located at 3800 Oak Ridge Road, Summerfield, North Carolina 27358 (collectively, the "Project") (b) pay certain capitalized interest on the Bonds, (c) fund a debt service reserve fund for the Bonds, and (d) pay certain costs of issuance of the Bonds. The Bonds will constitute "qualified 501(c)(3) bonds" within the meaning of Section 145(a) of the Code. The Project is to be owned and operated by the Borrower. The Bonds will be special limited obligations of the Authority payable solely from the loan repayments to be made by the Borrower to the Authority, and certain funds and accounts established by the trust indenture for the Bonds. The Bonds shall not constitute an obligation of the State of North Carolina, Guilford County, North Carolina or the Town of Summerfield, North Carolina, or any political subdivision thereof. Each public hearing will provide an opportunity for all interested persons to express their views, both orally and in writing, on the issuance of the Bonds and the financing of the Project. Any person interested in the issuance of the Bonds may appear and be heard or submit written comments. Any person wishing to submit written comments regarding the issuance of the Bonds, the financing and/or refinancing of the Project or any matter related thereto should do so within seven (7) days after the date of publication of this notice by delivering such written comments to the Director of the Office of Charter Schools, 6301 Mail Service Center, Raleigh, North Carolina 27699-6307. This notice is given pursuant to the provisions of Section 147 of the Code and the Act. Additional information concerning the Project or the Bonds may be obtained from Jeff Poley, Esq., 4801 Glenwood Avenue, Suite 200, Raleigh, North Carolina 27612; Email Address: jpoley@hawkins.com; Phone: (919) 635-8294. Maurice "Mo" Green Superintendent of Public Instruction State of North Carolina IPL0307276 Jan 23 2026
Post Date: 01/23 12:00 AM
Refcode: #IPL0307276 
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