Biola University Selects the CMFA as Issuer of a $74,400,000 Bond Financing

Founded in 1908, Biola University is a California non-profit religious corporation, organized and existing under the laws of the State of California. The University, containing eight schools, offers four baccalaureate degrees in 40 majors, 20 masters and eight doctoral degrees and its commitment to academic excellence is firmly rooted in its adherence to an in-depth, knowledgeable and living Christianity.

The CMFA issued $74,000,000 for Biola University. Proceeds from the bonds will be used to refund the California Municipal Finance Authority Refunding Revenue Bonds Series 2008A, which bonds refunded the California Statewide Communities Authority 2002 Variable Rate Demand Revenue Bonds Series A and Series B and refunded the Biola University Taxable Variable Rate Demand Revenue Bonds Series 2004 A and Series 2004 B.

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