FOR IMMEDIATE RELEASE
SACRAMENTO – The California Infrastructure and Economic Development Bank (IBank) Board will decide whether to approve the issuance of fixed-rate bonds in an amount not to exceed $60,000,000 through its conduit bond financing program for the benefit of Charter Impact Loans to reimburse, finance and/or refinance the acquisition of loans to academically high-performing public charter schools in Alameda, Los Angeles, Santa Clara, and Solano Counties.
The Board also will consider approving a preliminary step in the process of issuing bonds for the benefit of the California State Teachers’ Retirement System (CalSTRS). The IBank Board is being asked to adopt an “Inducement Resolution” to, among other things, express IBank’s reasonable expectation to issue tax-exempt conduit lease revenue bonds in an amount up to $350,000,000 to finance CalSTRS’ construction of a 500,000-square-foot Phase II headquarters building in the City of West Sacramento.
What: IBank Board Meeting
When: May 22, 2019, 2:00 PM
Where: IBank Conference Room, 1325 J Street, 17th Floor, Sacramento, California 95814. Board
Meetings are open to the public. Please be sure to have your government-issued identification (driver’s license) with you for entry into the building.
About the California Infrastructure and Economic Development Bank
IBank was created in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy and improve the quality of life in California communities. IBank is located within the Governor’s Office of Business and Economic Development and is governed by a five-member Board of Directors. IBank has broad authority to issue tax-exempt and taxable revenue bonds, provide financing to public agencies, provide credit enhancements, acquire or lease facilities, leverage State and Federal funds and provide loan guarantees and other credit enhancements to small businesses. Find more information on our website.
Gabrielle Stevenson
Public Information Officer
Email Gabrielle, HERE
