Title
RESOLUTION OF THE BOARD OF ALDERS OF THE CITY OF NEW HAVEN, CONNECTICUT APPROVING THE ISSUANCE BY THE PUBLIC FINANCE AUTHORITY OF ITS CHARTER SCHOOL REVENUE BONDS (HIGHVILLE CHARTER SCHOOL, INC. PROJECT) SERIES 2021 IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $15,000,000.
Body
WHEREAS, Highville Charter School, Inc., a nonprofit organization incorporated under the laws of the State of Connecticut (the "Borrower"), has requested that the Public Finance Authority, established and organized under the laws of the State of Wisconsin (the "Authority"), issue its Charter School Revenue Bonds (Highville Charter School, Inc. Project) Series 2021 in an aggregate principal amount not to exceed $15,000,000 (the "Bonds") to provide moneys for the purpose of (a) refunding the outstanding principal amount of the Authority's $9,480,000 Charter School Revenue Bonds (Highville Charter School, Inc. Project), Series 2015 (the "2015 Bonds"), the proceeds of which were used to (i) finance the acquisition of the Facilities (as defined below); (ii) reimburse, finance and refinance the planning, design, engineering, acquisition, relocation, renovation or construction of the remodeling and build out of the Facilitates; (iii) fund a debt service reserve fund and capitalized interest fund for the 2015 Bonds, and (iv) pay certain costs of issuance with respect to the 2015 Bonds; (b) reimbursing, financing and refinancing the planning, design, engineering, acquisition, relocation, renovation, equipping, or construction of the remodeling and improvement of the Facilities; (c) funding any required reserve funds; (d) paying capitalized interest on the Bonds, if deemed necessary or desirable; and (e) paying all or a portion of the costs of issuance of the Bonds (collectively, the "Project"); and
WHEREAS, the land and educational facilities, improvements and equipment to be financed with the proceeds of the Bonds is and will be initially owned and operated by the Borrower and are or w...
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