JEDA Bond Funding Helps Charleston Collegiate School Focus on Finances
November 8, 2011
CHARLESTON, SC – November 8, 2011 – Bond financing facilitated by the South CarolinaJobs-Economic Development Authority (JEDA) is helping CharlestonCollegiate School focus its finances on education.
The 41-year-old private, non-profit school will use the $1.75 milliontax-exempt bond issue to refinance existing taxable debt incurred tofinance expansion and improvements at its Johns Island campus.
Charleston Collegiate is the only co-educational, non-sectarian,pre-school through 12th grade institution in the Charleston region andhas a minority enrollment of nearly 25 percent. Its service area also isdiverse, as it attracts students from far-reaching areas such as DanielIsland, Mount Pleasant, Sullivan’s Island, the Isle of Palms andSummerville.
The bond issuance helps maintain the employment of 36 existing staff members.
“Because of JEDA bond funding, we are able to save money on servicingdebt and instead focus these resources on the education of ourstudents,” said Hacker Burr, Associate Head of School at CharlestonCollegiate.
“Unique schools like Charleston Collegiate play a vital role in thelives of the young people they serve. We feel privileged to be able tohave some role in helping this institution better fulfill its mission,”said Bond Counsel Sam Howell of Howell Linkous & Nettles inCharleston.
“Refinancing existing debt at historically low rates is an ideal wayfor non-profit organizations and schools to improve their facilities andtheir operations. Helping them achieve their goals is a reason JEDA wascreated,” said Harry Huntley, Executive Director of JEDA.
AboutJEDA
For more than 25 years, JEDA has promoted the business and economic welfare ofSouth Carolina by assisting in the financing of public and privateprojects throughout the Palmetto State. JEDA serves as a statewide conduitissuer of special obligation revenue bonds and acts on behalf of theborrower to access financial markets and capital. Since its creation in1983, JEDA has facilitated the issuance of 400 bonds totaling more than $7billion and resulting in the creation of more than 25,000 jobs.
Formore information regarding JEDA, please visit our website at www.scjeda.com or contact Harry A. Huntley, CPA, Executive Director, at (803)737-0268 or [email protected].
