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The CMFA Completed the issuance of $17,940,000 in Bonds for Nova Academy

Since 2005, NOVA Academy Early College High School has provided a rigorous yet nurturing learning environment, giving students the unique opportunity to earn college credits while completing high school. A tuition-free charter school accredited by the Western Association of Schools and Colleges (WASC), NOVA Academy instills a culture of college readiness while sustaining a 98% graduation rate.

The proceeds of the bonds will be used for the purpose of: (i) financing the costs of the acquisition, construction, renovation, improving and equipping of land and education and related facilities to be leased to the Lessee for use as a charter school and located at 500 West Santa Ana Boulevard, Santa Ana; (ii) funding a debt service reserve fund; (iii) paying capitalized interest on the Series 2016 Bonds; and (iv) paying certain issuance expenses.

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