DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
Resolution Authorizing the Refinancing of Certain Educational and Housing Facilities for the University of the Incarnate Word
SUMMARY:
Consideration of the following in connection with the Refinancing of Certain Educational and Housing Facilities for the University of the Incarnate Word:
Item to be considered by the Board of Directors of the City of San Antonio, Texas Education Facilities Corporation:
* This Resolution of the Board of Directors of the City of San Antonio, Texas Education Facilities Corporation approving and authorizing the execution of a loan agreement by and among the City of San Antonio, Texas Education Facilities Corporation, the University of the Incarnate Word (the "University"), and DNT Asset Trust, a Delaware business trust and wholly-owned subsidiary of JPMorgan Chase Bank, N.A., for the purpose of refinancing certain educational and housing facilities previously financed for the University and an affiliated educational institution; and approving and authorizing the execution of all other instruments and procedures related thereto.
Item to be considered by the City Council of San Antonio:
* This A Resolution by the City Council of the City of San Antonio, Texas regarding approval for purposes of Section 147(f) of the Internal Revenue Code, of a tax exempt loan agreement by and among the City of San Antonio, Texas Education Facilities Corporation, the University of the Incarnate Word (the "University"), and DNT Asset Trust, a Delaware business trust and wholly-owned subsidiary of JPMorgan Chase Bank, N.A.
BACKGROUND INFORMATION:
The University of the Incarnate Word (the "University") is a private Catholic university founded in 1881 by the Sisters of Charity of the Incarnate Word. The University currently serves over 4,000 students on its main campus in San Antonio along with other campuses...
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