Public Finance Authority

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PFA Provides $29M in Revenue Bonds to Charlotte Country Day School

The Public Finance Authority (PFA) has provided $29 million in revenue bonds to finance and refinance the costs of constructing, equipping and improving the Charlotte Country Day School (herein known as “CCDS”) located in Charlotte, North Carolina.

The project has two separate bonds.  The Series 2015 Educational Facilities Refunding Revenue Bond for the first facility will be used to refund, in their entirety, the School’s outstanding variable rate demand bonds.  The Series 2015 Educational Facilities Revenue Bond will be used to make customary improvements to the campus of the School.  It will also be used to initiate new projects that are subject of the campus master plan.  These projects may be partly funded through a new school-wide capital campaign.

CCDS is an independent, co-educational, secular day school serving student in junior kindergarten through grade 12.  Founded in 1941, CCDS is the oldest independent school in the Charlotte area and has grown to be one of the largest independent, co-educational schools in the region.  CCDS enrolled a total of 1,634 students for the 2014-15 academic year.  

PFA partnered with George K. Baum & Company and Robinson Bradshaw & Hinson to provide financing to CCDS in order to refinance and make improvements to the school while attracting new resident families and boosting the local economy.