A Resolution of the Board of County Commissioners of Pasco County, Florida (Regular) Granting Host Community Approval Pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (The “Code”), the Expenditure of a Portion of the Proceeds of the Arizona Industrial Development Authority, of its Charter School Revenue Bonds (Qualified 501(C)(3) Bonds As Defined In Section 145 of The Code), In One or More Series or Issues, Either Taxable or Tax-Exempt, or Both In An Aggregate Principal Amount Not To Exceed $5,000,000.00 (the "Bonds") for the Purposes of Financing and Refinancing Costs Incurred or to be Incurred by Creation Foundation Inc., D/B/A Dayspring Academy for the Purposes Described Herein; Providing for Certain Other Matters In Connection Therewith; and Providing an Effective Date

3:41:20Aye. Okay, P forty one. I think this is kind of uh This is this is not a contentious thing here. This is a pass through.

3:41:30We approved the publication of the hearing of this matter in the Tampa Bay Times February ninth of this year.

3:41:37Amy Farrell, Budget Director with Pasco's Office of Management and Budget. There was a Scribner error on the agenda memorandum for this one. This is not Commission Districts 2 and 4. As the memo states, it is actually Commission District 5. We are here for a tax equity and fiscal responsibility act, also known as TEFRA, application and public hearing.

3:42:01Um Yeah, yes please. Okay. So federal tax law allows for the issuance of tax exempt bonds for qualified private activity. IRS let regulations requires approval from the County Commission as the highest elected governing body with jurisdiction over the area in which the project will occur, a finding the project is in the public interest, a public hearing to gather input from the public, and the approval will allow. Allow Creation Foundation Inc., also known as Dayspring Academy, to borrow at a tax exempt

3:42:31rate.

3:42:34Day Spring Academy is seeking to borrow up to $5 million. The funds will be issued by the Industrial Development Authority, a political subdivision of the state of Arizona, not Pasco County. The purpose of the bonds is to finance the acquisition, construction, expansion, remodeling, renovation, improvement, and equipping of an approximately 26,300 square foot charter school building and ancillary facility. Day Spring Academy is located in Newport Ritchie and fund capitalized interest and other costs of issuance. So

3:43:06as a reminder, Pasco County will have no obligation with respect to these bonds. The county is not responsible for paying the debt service. There is no cost to the county resulting from the approval of this application, and Day Spring Academy is not borrowing from Pasco County.

3:43:24Um it doesn't say which I'm just curious which school, but it doesn't specifically say If it's for a specific school or for any other schools.

3:43:34It's the it is the Previous public health building that you surplused and sold to them, it's for paying for that building and for renovation.

3:43:44Okay. Up on uh little. Okay. 'Cause I don't So we Oh I see it. Okay, it's here. Okay, any uh this is a public meeting. Anybody want to speak to this item? Anyone online to speak to this? No,

3:44:01ma'am, not to this

3:44:01issue. Take a motion. Move approval. Second. All in favor? Aye. Aye. Thank you. Thank you.

3:44:11Forty one.

3:44:17Just a moment please.

3:44:21Oh.

3:44:22I believe that was forty one forty two.

3:44:26I have to flip my page.