CORE Butte Finances Charter School Project with Tax-Exempt Bonds
The CMFA issued $6,705,000 in tax-exempt bonds for the CORE Butte Charter School. The proceeds of the Series 2018 Bonds to the “Borrower”, a California nonprofit public benefit corporation, pursuant to the terms of a Loan Agreement, by and between the Authority and the Borrower, will be used for the purposes of (i) financing or refinancing the costs of the acquisition, construction, renovation, improvement and equipping of approximately 43,495 square feet of land and charter school facilities to be constructed thereon located at 2801 Notre Dame Boulevard, Chico, California 95928 (the “Series 2018 Facilities”); (ii) reimbursing the Borrower for the costs incurred in connection with the Series 2018 Facilities; (iii) funding a debt service reserve fund; (iv) paying capitalized interest, if any, on the Series 2018 Bonds; and (v) paying certain issuance expenses (collectively, the “Series 2018 Project”).