NOTICE OF PUBLIC HEARING
WITH RESPECT TO EDUCATION REVENUE BONDS
(LEGACY TRADITIONAL SCHOOLS – CLEMMONS
(NORTH CAROLINA) CAMPUS PROJECT) SERIES 2026
ISSUED BY THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF THE COUNTY OF MARICOPA
IN AN AMOUNT NOT TO EXCEED $48,000,000
Notice is hereby given that on March 31, 2026, a public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), 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 (Legacy Traditional Schools – Clemmons (North Carolina) Campus Project), Series 2026 (the "Bonds"), issued in one or more series, issuances, and/or advances, on a tax-exempt or taxable basis, in an aggregate maximum stated principal amount not to exceed $48,000,000 by The Industrial Development Authority of the County of Maricopa (the "Authority"), a nonprofit corporation designated as a political subdivision of the State of Arizona. The hearing will be held in Room 120B at the North Carolina Department of Public Instruction building located at 301 North Wilmington Street, Raleigh, North Carolina 27601 at 9:00 a.m. (or as soon thereafter as the public hearing is held).
The Bonds are expected to be issued pursuant to the Industrial Development Financing Act, Arizona Revised Statutes § 35-701 et seq. and the proceeds from the sale of the Bonds will be loaned to Legacy Traditional Schools – North Carolina (the "Borrower"), a North Carolina nonprofit corporation and an exempt organization under Section 501(c)(3) of the Code. One or more series of the Bonds are expected to be qualified 501(c)(3) bonds, as defined in Section 145 of the Code. The proceeds of the Bonds will be used to finance all or a portion of the costs of (1) acquiring, constructing, improving, equipping and operating charter school facilities located at 1544 Lewisville-Clemmons Road, Clemmons, North Carolina (the "Project"), (2) interest on the Bonds, (3) funding a debt service reserve fund for the Bonds, and (4) issuing the Bonds. The Project will be owned and used by the Borrower in connection with its charter school operations.
The Bonds are special limited obligations of the Authority payable solely from funds paid by the Borrower to the Authority and are secured by collateral furnished or caused to be furnished by the Borrower. The Bonds do not constitute an indebtedness, general obligation, or liability of the State of North Carolina or any county, municipal corporation or political subdivision thereof.
The 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 may be heard or submit written comments. Any person wishing to submit written comments regarding the issuance of the Bonds, the financing 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, NC 27699-6301. This notice is given pursuant to the provisions of Section 147 of the Code. Additional information concerning the Project may be obtained from the Borrower by calling Byron Jones, Chief Financial Officer of Vertex Education, LLC, the manager of the Borrower, at (480) 270-5438.
Maurice Green
Superintendent of Public Instruction
State of North Carolina
IPL0323234
Mar 20 2026