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The CMFA Completes a $37,265,000 Financing for The Palmdale Aerospace Academy

The proceeds of the Bonds will be used to finance and/or refinance: (1) the acquisition of land located west of and adjacent to the Borrower’s current campus at 3300 East Palmdale Boulevard in Palmdale, California and land located on the southeast corner of Palmdale Boulevard and 35th Street East in Palmdale, California, and the improvement, construction and equipping of educational facilities thereon (collectively, the “Facilities”); (2) capitalized interest with respect to the Bonds; (3) a reserve fund with respect to the Bonds; and (4) certain expenses incurred in connection with the issuance of the Bonds.

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