DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
Resolution Authorizing the Financing of Certain Educational and Housing Facilities for the University of the Incarnate Word
SUMMARY:
Consideration of the following in connection with the Financing of Certain Educational and Housing Facilities for the University of the Incarnate Word (the "University"):
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, and Banc of America Public Capital Corp. for the purpose of providing a loan of up to $30,000,000 to finance certain educational facilities and housing facilities for the University; 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 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, and Banc of America Public Capital Corp.
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 approximately 11,000 students (including extended academic programs and in Mexico City), of which approximately 6,250 students (undergraduate and graduate) make up its main campus population (located at the intersection of Hildebrand and Broadway in the City).
The City of S...
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