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Sierra Vista IDA resolution on revenue bonds for Wake Preparatory Academy presented; city not liable, more public hearings required
Summary
IDA staff presented a resolution to authorize issuance of education‑facility revenue bonds for Wake Preparatory Academy; staff stressed the bonds are payable from the school's revenues and that neither the IDA nor the city will be liable.
IDA staff presented a resolution authorizing the issuance of education‑facility revenue bonds intended to finance the purchase of a school site by Wake Prep Holdings, an entity affiliated with Wake Preparatory Academy in North Carolina.
"You have before you a resolution authorizing issuance of education facility revenue bonds for Wake Preparatory Academy," said Mr. Selena,…
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