Low Cost, Tax-Exempt Financing Provided for the Southern California Institute of Architecture

The CMFA issued $14,205,000 in tax-exempt bond financing. The Institute will use the proceeds of the Bonds to (i) current refund the Authority’s Educational Facility Revenue Bonds Series 2011, and (ii) pay costs of issuance relating to the Bonds.

The Prior Bonds were used for (a) the acquisition, construction, improvement, renovation and equipping of land and educational facilities located at 960 East 3rd Street, Los Angeles, California 90013 (the “Campus Facilities” and at 350 South Merrick Street, Los Angeles, California 90013 (the “Parking Facilities” and, together with the Campus Facilities, the “Facilities”); and (b) paying certain Bond issuance expenses.

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