NOTICE OF PUBLIC HEARINGS WITH RESPECT TO NOT TO EXCEED $12,500,000 OF PUBLIC FINANCE AUTHORITY EDUCATION REVENUE BONDS (Tillery Charter, A Classical Academy) SERIES 2026
Notice is hereby given that public hearings, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), 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 plan of finance for the issuance 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"), of its Education Revenue Bonds (Tillery Charter, A Classical Academy) Series 2026, in one or more series, issuances, or advances from time to time pursuant to a plan of finance (the "Bonds"), in an amount not to exceed $12,500,000, the interest on which will be excludible from gross income for federal income tax purposes. The Bonds will be issued as qualified 501(c)(3) bonds under Section 145 of the Code and will be used to finance educational facilities as further described below.
The hearings will be held (a) in the Boardroom at Tillery Charter Academy located at 170 Academy Street, Biscoe, NC 27306 on August 20, 2026, at 1:00 p.m. ET (or as soon thereafter as the public hearing is held) and (b) in Room 120B of the Education Building of the North Carolina Department of Public Instruction located at 301 N. Wilmington St., Raleigh, North Carolina 27601 on August 19, 2026, at 10:00 a.m. ET (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 of the Bonds will be loaned to Tillery Charter Academy (the "Borrower"), a North Carolina nonprofit corporation and an organization described in Section 501(c)(3) of the Code, and used by the Borrower for the purpose of (a) financing and refinancing, including through reimbursement, the acquisition, construction, renovation, improvement, and equipping of certain land and charter educational facilities of the Borrower for use as the public charter school known as Tillery Charter, A Classical Academy, located and to be located at 170 Academy St., Biscoe, North Carolina 27306 (the "Facilities"); (b) funding capitalized interest on the Bonds, if any; (c) paying working capital, if any; (d) funding one or more reserve funds for the Bonds, if any; and (e) paying certain costs of issuance relating to the Bonds.
The Borrower will own and operate the Facilities. The Facilities are located entirely within Montgomery County in the State of North Carolina.
The Bonds will not constitute an indebtedness or general obligation of the State of North Carolina, or any county, municipal corporation or political subdivision of the State of 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 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 bond indenture under which the Bonds will be issued. This notice is given pursuant to the provisions of Section 147(f) of the Code and Section 66.0304(11)(a) of the Wisconsin Statutes and Section 4 of the Amended and Restated Joint Exercise of Powers Agreement Relating to the Authority.
The public hearings will provide an opportunity for all interested persons to express their views, both orally and in writing, on the plan of finance, the issuance of the Bonds, and the financing or refinancing of the Facilities. 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 Facilities 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 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 Bonds or the Facilities may be obtained from the Borrower at its current mailing address of 170 Academy St., Biscoe, North Carolina 27306.
Dated: August 12, 2026
Maurice Green
Superintendent of Public Instruction
State of North Carolina
IPL0364283
Aug 12 2026