California Public Finance Authority

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California Public Finance Authority

CalPFA Closes First Deal

The California Public Finance Authority (CalPFA) has provided $8 million of tax-exempt revenue bonds for the purpose of refunding the 2011 revenue bonds for the Marin Montessori School located in the city of San Rafael, county of Marin

The School is receiving a lower interest rate in the current marketplace, which in turn helps them save money and focus on their students.  Additionally, it assists the school in planning for the future in a more economic manner.

Marin Montessori School (the "School") was founded as a preschool in 1963 in a converted house in San Rafael by parents who wanted to provide an educational community based on the teaching methods of Dr. Maria Montessori.  In 1973, the School relocated to its current site along the San Francisco Bay in the Town of Corte Madera.  The School provides the following programs for its students: a Toddler Level (for students 18 months up to 3 years old), a Primary Education Level (for students 2½ years to 6 years old), an Elementary Level (for students 6 years to 12 years old), and a Junior High Level (for students 12 to 15 years old).

CalPFA partnered with Hawkins, Delafield & Wood and US Bancorp to provide financing to Marin Montessori School in order to make long term savings as well as providing more of an economic impact towards the students.