DEPARTMENT: Finance Department
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City wide
SUBJECT:
Resolution through City of San Antonio Education Facilities Corporation authorizing the issuance of up to $38,000,000 in Higher Education Revenue Improvement Bonds for Trinity University.
SUMMARY:
Consideration of the following in connection with the issuance of Higher Education Revenue Improvement Bonds for Trinity University (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 approves and authorizes the issuance of up to $38,000,000 in Higher Education Revenue Improvement Bonds for Trinity University to refinance a bank loan provided by BOKF, NA (Bank of Texas), the proceeds of which were used to acquire a 141 unit, five story apartment complex on January 17, 2017 and which will be used for student housing.
Item to be considered by the City Council of San Antonio:
* This Resolution of the City Council of San Antonio approves the issuance of up to $38,000,000 in principal amount of "Higher Education Revenue Improvement Bonds" 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 (the "University') was founded in 1869 by the Presbyterian Church. It is governed by an independent Board of Trustees comprised of 36 members and is a private, residential, co-educational university offering 47 majors and 59 minors. There are approximately 513 full-time and 11 part-time professional and support staff and 2,338 undergraduates from 48 states and over 32 foreign countries. Trinity also has five graduate programs - in Accounting, Health Care Administration, School Leadership, School Psychology, and ...
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