CMFA Completes the Issuance of $3,490,000 in Bonds for University Ministry Board of the Sana Barbara Presbytery

The CMFA completed the issuance of $3,490,000in tax-exempt private activity bonds benefitting the University Ministry Board of the Sana Barbara Presbytery.  This nonprofit corporation that operates an active campus ministry program for the students of California Polytechnic State University at San Luis Obispo, University of California at Santa Barbara and nearby community colleges near these universities.  In addition, the non-profit provides low cost residential housing open to all students regardless of their participation in their ministry programs.  Proceeds from the low-cost financing were used to refinance debt associated with the construction and equipping of several student housing sites and a Community Center.

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