Join Us for the Intro Bond Finance WebCourse at CDFA Summer School
The Intro Bond Finance WebCourse is happening August 7-8! This highly acclaimed course provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government. Join us to learn about requirements for issuing a bond, the rules and regulations that govern tax-exempt and taxable bonds, the major players involved in a bond transaction, and much more.
California Elite High School to Sell $132M of Bonds for Campus Upgrade
The elite Catholic high school that educated former California Governor Jerry Brown plans to tap the municipal bond market to raise $132 million to spruce up its 11-acre San Francisco campus. The bond deal will be issued by the California Municipal Finance Authority and underwritten by Oppenheimer and Piper Sandler. The securities will be backed by revenue from the school, including tuition payments. The bond sale is rated A by S&P Global Ratings.
Los Angeles, CA is Borrowing $150M to House Thousands of Its Homeless
Los Angeles plans to issue $150 million of municipal debt next week to raise money for housing construction as it moves to ease a mounting homelessness crisis in the second-most populous US city. The sale is part of a $1.2 billion city bond measure — Proposition HHH — that voters approved in 2016. It was designed to develop permanent, rent-stabilized housing for some of the city's residents most in need. Proceeds of this month's borrowing will finance the construction of 2,574 units, bond documents show. Ultimately, the financing earmarked through HHH is expected to provide residences for as many as 16,000 people.
South Dakota Boards Approve $87M in Bonds, Loans and A Grant to Businesses
The Board of Economic Development and Economic Development Finance Authority approved the assistance, which will be administered by the Governor's Office of Economic Development. The office announced the approvals in a news release. The state's help will support private projects totaling $236 million in costs and creating a projected 119 jobs.
$517M Behavioral Health Campus in Unincorporated Riverside County, CA
Mead Valley Wellness Village, a $517 million financing in unincorporated Riverside County, will provide critical healthcare services to the surrounding community. The California Enterprise Development Authority issued these bonds for the benefit of Riverside County. The proceeds of the Bonds will be used to construct a 450,000 sq. ft. behavioral health campus with five main buildings: a Community Wellness and Education Center, a Children's and Youth Services building, Urgent Care Services, Supportive Transitional Housing, and Extended Residential Care.
Board in Virginia Proposes $306M in Bond Financing
The Board of Supervisors voted on $306 million in bonds and adopted resolutions to request that the Circuit Court authorize them. County voters need to approve the bonds, and after being reviewed by a judge, they should be on the ballot in November. A portion of the funds is intended for Fairfax County's share of the Washington Metropolitan Area Transit Authority capital improvement program, as well as improvements to and replacement of certain public safety-related facilities.
Maryland Department of Housing Issues $3.8M in Bonds to Berlin
The Maryland Department of Housing and Community Development (DHCD) announced it has issued $3.8 million in bonds through the Local Government Infrastructure Financing Program to support infrastructure improvement efforts in Berlin. DHCD's Community Development Administration administers the bonds on behalf of counties, municipalities, and/or their instrumentalities to finance projects that serve the community at large, such as streetscape improvements, transportation enhancements, or water and sewer treatment facilities.
FTAI Infrastructure Secures $382M in Bond Financing in Texas
FTAI Infrastructure Inc., a company specializing in railroad line-haul operating, has successfully completed a significant financing deal involving the issuance of $382 million in bond financing. The transaction was executed through the company's subsidiaries within the Jefferson Terminal segment and the Port of Beaumont Navigation District of Jefferson County, Texas.
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