Low Cost, Tax-Exempt Financing Provided for the International School of the Peninsula
The International School of the Peninsula (“ISTP”) is an independent, co-educational, non-sectarian bilingual immersion day school with two Nursery – 5th grade programs (French Immersion and Mandarin Chinese Immersion) and an international middle school.
The CMFA issued $7,200,000 in tax-exempt bond financing. The proceeds of the Bonds will be used by the School to: to refinance the Project on the terms and conditions set forth to prepay and retire all the outstanding California Statewide Communities Development Authority Refunding Revenue Bonds (International School of the Peninsula Project) Series 2006, previously issued to finance and refinance the Borrower’s facilities at 151 Laura Lane, Palo Alto, California 94303. The bonds originally issued were used to purchase, renovate, and equip the school’s campus.