Public hearing on financing Educational Facilities Revenue Bonds for a new school.

NOTICE OF PUBLIC HEARING
CITY OF GULF BREEZE, FLORIDA
For the purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended (the
“Code”), notice is hereby given that the City of Gulf Breeze, Florida (the “City”) will hold a public
hearing at 9:00 a.m. on March 2, 2026, in the City Council Chambers located at 1070 Shoreline
Drive, Gulf Breeze, Florida, 32561. The purpose of the public hearing is to consider a plan of finance
for the purpose of, among other things, the issuance by the Capital Trust Authority (the “Issuer”) of
not exceeding $18,000,000 in aggregate principal amount of its Educational Facilities Revenue
Bonds (Team Success A School of Excellence of Lee County, Inc. Projects), in one or more series of
tax-exempt qualified 501(c)(3) bonds or taxable bonds (the “Bonds”). The proceeds of the Bonds
will be loaned to Team Success A School of Excellence of Lee County, Inc., a Florida not for profit
corporation, and an organization described in Section 501(c)(3) of the Internal Revenue Code of
1986, as amended (the “Code”), and/or one or more related and/or affiliated entities (collectively,
the “Borrower”), for the purpose of financing or refinancing, including through reimbursement, (i)
the acquisition, construction, installation, furnishing and equipping of a new educational facility,
consisting of approximately 22 classrooms, a lab, a cafeteria and administrative space, restrooms,
and including related facilities, fixtures, furnishings and equipment, located on approximately
9.5 acres, located on the northwest corner of Marsh Avenue and Billy Creek, to the south of the
intersection of Madison Avenue and Marsh Avenue, Fort Myers, Lee County, Florida (Parcel ID 08-
44-25-P3-00068.0000), all to serve approximately 500 charter school students in grades K-6 and
related uses (collectively, the “Facilities”); (ii) the funding of a debt service reserve fund for the Bonds,
if deemed necessary or desirable; (iii) the funding of capitalized interest for the Bonds, if deemed
necessary or desirable; and (iv) the payment of certain costs of issuing the Bonds (collectively, the
“Project”).
The plan of finance contemplates that the Issuer will issue, in respect to such Project, not
exceeding $18,000,000 in aggregate principal amount of its Bonds, in one or more series of taxexempt
qualified 501(c)(3) bonds or taxable bonds, and loan the proceeds of the Bonds to the
Borrower to provide funds for the Project. The Facilities will be owned by the Borrower, or an affiliate
thereof or another entity chosen by the Borrower.
The Bonds, when issued, will be special, limited obligations payable solely out of the revenues,
income and receipts pledged to the payment thereof and derived from financing agreements with
the Borrower, and none of the Issuer, the City, Lee County, Florida (the “County”), the School District
of Lee County (the “School District”) or the State of Florida (the “State”) will be obligated to pay
the principal of, premium, if any, or interest on the Bonds except from the payments of the Borrower.
The Bonds and the interest thereon shall never (i) pledge the taxing power of the City, the County,
the School District, the State or any other political subdivision, public agency or municipality thereof
within the meaning of any constitutional or statutory provision, (ii) constitute the debt or indebtedness
of the Issuer, the City, the County, the School District, the State or any other political subdivision, public
agency or municipality thereof within the meaning of any constitutional or statutory prohibition, (iii) or
pledge the full faith and credit of the Issuer, the City, the County, the School District, the State or any
political subdivision, public agency or municipality thereof. The Issuer has no taxing power. Issuance
of the Bonds is subject to several conditions including satisfactory documentation and receipt of
necessary approvals for the financing.
At the time and place fixed for said public hearing all who appear will be given an opportunity
to express their views for or against the proposal to approve the Bonds and the plan of finance. Prior
to said public hearing, written comments may be delivered to the City Manager of the City of Gulf
Breeze, Florida, at 1070 Shoreline Drive, Gulf Breeze, Florida, 32561. Subsequent to the public
hearing, the City Council of the City (the “Council”) will consider whether to approve the Bonds as
required by Section 147(f) of the Code.
Further information relating to this matter is available for inspection and copying during regular
business hours at the office of the City Manager at the above address.
Comments made at the hearing are for the consideration of the Council and the City, and will not
bind any legal action to be taken by the Council or the City in connection with its consideration and
approval of the issuance of the Bonds.
All persons are advised that, if they decide to appeal any decision made by the City with respect
to any matter considered at this meeting, they will need a record of the proceedings, and for such
purpose, they may need to ensure that a verbatim record of the proceedings is made, which record
includes the testimony and evidence upon which the appeal is to be based. All interested persons
are invited to present their comments at the time and place set forth above.
IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT OF 1990, AS AMENDED,
ALL PERSONS WHO ARE DISABLED AND WHO NEED SPECIAL ACCOMMODATIONS TO
PARTICIPATE IN THIS PUBLIC HEARING BECAUSE OF THAT DISABILITY SHOULD CONTACT
THE TELEPHONE OPERATOR OF CITY HALL, 1070 SHORELINE DRIVE, GULF BREEZE, FLORIDA
32561, (850) 934-5115, AT LEAST 48 HOURS IN ADVANCE OF THE MEETING, EXCLUDING
SATURDAY AND SUNDAY.
Legal 46673 Gulf Breeze News 02-19-26