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League-Sponsored Bond Agency Issues $29.6 Million in Tax-Exempt and Taxable Bonds for Guidance Charter School located in Palmdale

March 23, 2017
Some of the most significant benefits of League membership for cities since 1988 have flowed from the League’s co-sponsorship of the California Statewide Communities Development Authority (CSCDA).
 
This program provides a variety of public agencies and developers access to low-cost, tax-exempt financing and economic development tools. CSCDA recently issued a total of $29,580,000 in tax-exempt and taxable bonds for Guidance Charter School located in Palmdale.
 
About Guidance
 
Guidance opened its doors in 2001 and is one of the oldest charter schools in California. Enrollment currently consists of approximately 704 students covering grades K‐12. Guidance provides a rigorous educational program that emphasizes the development of basic skills in reading, writing, speaking and computation; development of a repertoire of problem-solving skills, through understanding of technology with a development of global perspectives. Guidance is accredited by The Western Association of Schools and Colleges.
 
CSCDA partnered Piper Jaffray and Orrick, Herrington & Sutcliffe, LLP to provide the $29,580,000 in bonds for Guidance. The bonds will be used to acquire and construct an 87,000 square foot educational facility building which will be completed for the 2017–18 school year. The site will house the middle school (grades 6–8) in a separate building on one side of the campus and the high school (grades 7–12) in another building on the other side of the campus. Both schools will share common resources located in the center of the campus, including a library, gymnasium, cafeteria, administrative offices, swimming pool, playing fields and visitor/teacher parking.
 
Background
 
CSCDA is a joint powers authority created in 1988 and is sponsored by the League of California Cities® and the California State Association of Counties. It was created by cities and counties for cities and counties. More than 500 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects. CSCDA has issued more than $50 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services. Visit CSCDA’s website for additional information on the ways in which CSCDA can help your city. 


 
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