as the issuer, after which a financial institution purchased and handled the
bonds. Columbus Academy, as the borrower, then paid them back. He
emphasized that the capitalized statement in the documentation identified the
important point, the request involved no commitment of city resources, debt
capacity, or guarantees. He clarified that the city only approved the issuance
of the bonds before the financial institution purchased them for use by
Columbus Academy. He noted that Columbus Academy intended primarily to
refinance the existing 2019 bonds and to fund some capital projects. Director
Gottke described the request as mostly procedural and required by the Ohio
Revised Code, with the city functioning solely as a conduit. He introduced
representatives present for questions: Weston Outlaw, Chief Financial Officer
(CFO) of Columbus Academy, and Mark Kamer and his colleague from
Dinsmore, the bond counsel for the project. Gottke added two procedural
notes. He stated that the request included an emergency clause in order to
meet the January 1, 2026, closing date for the bond. He explained that the
statute required a public hearing, which created the need for emergency
passage. He noted that the public hearing could occur at the December 15,
2025, Regular Council Meeting, allowing Second Reading and passage with
the emergency clause so the legislation could take effect immediately and
allow the project to meet the January 1, 2026, deadline. He acknowledged that
this timing differed from the city’s usual process. He concluded his remarks
and invited questions for himself, Mr. Kamer, or Mr. Outlaw.
Vice President Weaver thanked Director Gottke and the guests and asked
Councilmembers if they had any discussion.
President Bowers asked a procedural question. She wondered whether any
issue would arise if the city held the required Public Hearing on December 1,
2025, instead of December 15, 2025. Mark Kamer introduced himself and
answered her question. He explained that the city had to post notice of the
meeting seven days before December 1. While they could have posted the
notice earlier, they chose not to presume Council approval before this
meeting. He added that The Dispatch required two days of lead time for the
notice. He stated that they planned to submit the notice on Wednesday of that
week for the December 15, 2025, date but could not meet the deadline for a
December 1, 2025, hearing.
Vice President Weaver asked Director Gottke to confirm that the request
involved no risk to the city. Director Gottke confirmed that the request created
no risk, remained off the city’s books, required no guarantees, used no city
financial resources, and did not count against the city’s debt capacity. Vice
President Weaver stated that he wanted to make that point very clear. He
recommended placing the item on the Regular Agenda. He noted that Council
would take a First Reading on December 1, 2025, and second reading on
December 15, 2025.
Councilmember McGregor asked whether Columbus Academy had any