NOTICE OF PUBLIC HEARING ON
PROPOSED PLAN OF FINANCE AND
ISSUANCE OF REVENUE BONDS BY
ARKANSAS DEVELOPMENT FINANCE AUTHORITY
FOR THE BENEFIT OF
PROVIDENCE CHRISTIAN MINISTRIES, INC.
Notice is hereby given, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) and Act No. 852 of the Acts of Arkansas of 1987, that a public hearing will be conducted by a representative or representatives of the Arkansas Development Finance Authority (the “Authority”) with respect to the proposed issuance by the Authority of its Educational Facility Revenue Bonds in an aggregate principal amount not to exceed $35,000,000 (the “Bonds”), to be issued in one or more series, pursuant to a plan of finance for the benefit of Providence Christian Ministries, Inc. d/b/a Providence Classical Christian Academy , an Arkansas not-for-profit corporation (the “Borrower”). The Bonds will be issued as “qualified 501(c)(3) bonds” pursuant to Section 145(a) of the Code.
The proceeds of the Bonds will be loaned to the Borrower and used (a) to provide permanent financing of the costs, in whole or in part, of (i) the construction, expansion, remodeling, renovation, improvement, furnishing and/or equipping of educational facilities to be located at 1501 Ladelle Avenue, Lowell, Arkansas 72745 and other capital improvements thereon, (b) funding, if required, a debt service reserve fund and other required reserves and capitalized interest with respect to the Bonds and (c) paying certain costs of issuance of the Bonds (collectively, the “Project”). The Project will be owned and operated by the Borrower. The Bonds will be issued pursuant to Arkansas Code Annotated Sections 15-5-101 et seq., and a resolution adopted by the Board of Directors of the Authority and will be secured by and payable from certain payments to be made by the Borrower. The Bonds will not be secured by or payable from any revenues or property of the Authority, the State of Arkansas or any political subdivision thereof within the meaning of any constitutional or statutory provision.
Any persons interested may express their views on the proposed issuance of the Bonds before a representative or representatives of the Authority on Tuesday, August 5, 2025, at 4:00 p.m. at the Lowell City Hall located at 216 N. Lincoln Street, Lowell, Arkansas, 72745. At such hearing, all objections and suggestions will be heard and considered.
July 24, 2025. /s/ Mark Conine
President, Arkansas Development
Finance Authority