CSCDA Closes $10,000,000 Tax-Exempt Loan for Town School for Boys

August 21, 2020

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the closing of a $10,000,000 tax-exempt loan for the benefit of Town School for Boys located in San Francisco, California.

About Town School:

Town School was founded in 1939 and is an independent, non-profit, accredited K-8 boys’ school.   As an all boys’ school, Town School provides a rich, challenging and rigorous educational experience that addresses the distinctive energy levels and developmental styles of boys.  Town School values being a diverse and inclusive community that nurtures integrity, sensitivity and respect in its boys, and prepares them to become productive and contributing members of an ever-changing world.

About the Financing:

CSCDA partnered with First Republic Bank and Norton, Rose, Fulbright LLP to provide the $10,000,000 tax-exempt loan for Town School.  The new loan will refinance Town School’s existing 2013 educational facility loan resulting in significant interest cost savings.

About CSCDA:

CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  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.  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.

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