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file:///S:/Council Agendas/CITY COUNCIL DRAFT FOLDERS/201... <br />Thanks <br />Michael <br />From: Alexander, Corby <br />Sent: Wednesday, February 12, 2014 10:04 AM <br />To: Dolby, Michael <br />Subject: FW: Educational Media Foundation - Public Hearing and Approval Request <br />Here's the information that I mentioned this morning. <br />From: Diana B. Silveira[mailto:dsilveira@peckshaffer.coml <br />Sent: Tuesday, January 14, 2014 11:33 AM <br />To: City Manager Public E -Mail <br />Subject: Educational Media Foundation - Public Hearing and Approval Request <br />Mr. Alexander, <br />Per our conversation a short while ago, I have attached some correspondence describing the tax-exempt financing <br />I spoke with you about on the telephone. The call sign and frequency for the radio station is described on the <br />Federal Communications Commission (FCC) website as KHJK, 103.7 FM, broadcast through either the K -LOVE <br />Radio or Air1 Radio networks. You will notice in the attached documents that the maximum principal amount for <br />the tax-exempt bonds will be $30 million, but the portion of that total allocable to the License assigned by the FCC <br />to La Porte and the radio antenna for this station, which is located in Liberty County, is approximately $3,000,000. <br />It is mentioned in the correspondence and draft approval resolution, but I would like to reiterate that the <br />repayment of these bonds will be the sole responsibility of Educational Media Foundation. No taxpayer dollars will <br />be pledged or used to pay back the bonds, and the bonds will not be the debt of La Porte. Educational Media <br />Foundation will cover the cost of the public notice that is required by the Internal Revenue Code, and will also <br />cover any additional costs of La Porte that arise in connection with holding the public hearing and considering the <br />approval ordinance. <br />Please pass any and all of this information on to the City Council, and please feel free to contact me at any time to <br />answer any questions you or they may have. In the meantime, I will contact Educational Media Foundation to <br />have someone call you about the Community of License aspect of this radio license. Thank you for your time, and <br />I look forward to hearing back from you regarding scheduling the public hearing. <br />Thank you, <br />Diana <br />�1 U-11 tA_� <br />DIANA B. SILVEIRA <br />ATTORNEY <br />d s i Ive i ra @ p e c k s h affe r. co m <br />65 EAST STATE STREET TEL 614 233-5392 <br />SUITE 500 888 900 5205 <br />COLUMBUS, OH 43215 FAX 614-224-0069 <br />3 of 4 6/3/2014 8:11 AM <br />