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Home > News > News Articles > 2020 > November > League-sponsored bond agency issues taxable bonds for Novato nonprofit research institute for aging
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League-sponsored bond agency issues taxable bonds for Novato nonprofit research institute for aging

November 3, 2020
The California Statewide Communities Development Authority (CSCDA) announced the issuance of a $126.4 million in taxable bonds that will support the Buck Institute for Research on Aging, located in Novato. 
 
The institute, a 501c3 nonprofit organization, is dedicated to studying the basic biology of aging and age-associated diseases.
 
CSCDA partnered with Cain Brothers and Orrick, Herrington & Sutcliffe, LLP to provide $126,415,000 AA-rated insured taxable bonds to refinance CSCDA’s prior issued 2014 bonds and provide additional working capital.
 
The mission of the institute is to increase the healthy, productive years of each individual’s life through clinically relevant biomedical research and education on aging and age-associated diseases such as Alzheimer’s, Parkinson’s, cancer and stroke.
 
The League’s co-sponsorship of CSCDA continues to be a significant benefit for League members. CSCDA has issued more than $63 billion in tax-exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools, and other fundamental services.
 
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. More than 530 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.
 
Visit CSCDA’s website for additional information on the ways in which CSCDA can help your city.


 
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