DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City wide
SUBJECT:
Resolution through the City of San Antonio Education Facilities Corporation authorizing the issuance of up to $125,000,000 in all taxable or a combination of taxable and tax-exempt Higher Education Revenue Refunding and Improvement Bonds for Trinity University.
SUMMARY:
Item to be considered by the Board of Directors of the City of San Antonio, Texas Education Facilities Corporation:
This Resolution of the City of San Antonio, Texas Education Facilities Corporation authorizes the issuance of up to $125,000,000 of City of San Antonio, Texas Education Facilities Corporation Higher Education Revenue Refunding and Improvement Bonds (Trinity University Project) in one or more series (either all taxable or a combination of taxable and tax-exempt) for Trinity University (the "University") to (i) refund up to $57,450,000 in principal outstanding bonds issued by the Corporation in 2011 and 2014 for debt service savings, and (ii) finance the renovation of two existing academic buildings (Chapman and Halsell) and construct a new 45,000 square foot academic building that will tie the three buildings together in a strategic way for humanities, social sciences and business studies; authorizes the execution of a Third Amended and Restated Loan Agreement, a Third Amended and Restated Indenture of Trust, and a purchase contract; authorizes the preparation and distribution of an official statement; and approves other matters in connection therewith.
Item to be considered by the City Council of San Antonio:
This Resolution approves the issuance of up to $125,000,000 of "Higher Education Revenue Refunding and Improvement Bonds" in one or more series, by the City of San Antonio, Texas Education Facilities Corporation for Trinity University, a Texas Nonprofit Corporation, and approves other matters related thereto.
BACKGROUND INFORMATION:
Trinity University was f...
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