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AI- 7256   4. A. 4.    
Commissioners Court - Regular
Meeting Date: 04/20/2016  
Request to Issue Revenue Bonds - Riverwalk Education Foundation - School of Science and Technology
Submitted By: Tyner Little, Commissioners Court Admin
Department: Commissioners Court Admin  

Information
RECOMMENDATION
Discuss and consider adopting a resolution authorizing the County Judge to execute a certificate of approval concerning the issuance of revenue bonds designated as "Danbury Higher Education Authority, Inc. Education Revenue and Refunding Bonds (Riverwalk Education Foundation, Inc.) Series 2016A and Taxable Revenue Bonds (Riverwalk Education Foundation, Inc.) Series 2016B by Danbury Higher Education Authority, Inc. in satisfaction of the requirements contained in Section 147(f) of the Internal Revenue code of 1986, as amended.
BACKGROUND
This would be the second issuance of bonds. The first was in 2014. This issuance would be in an amount not to exceed $5 million for their Corpus Christi Campus which is the School of Science and Technology located at 4737 S. Saratoga Blvd., Corpus Christi, Texas.
DISCUSSION
The bonds will not constitute a liability of Nueces County and the County is not responsible for any expenses related to the bond issue, however, approval by the County is required under the Internal Revenue Code in order for the issuance to go forward.

Budget Information
Information about available funds
Budgeted: Funds Available: Adjustment: Amount Available:
Unbudgeted: Funds NOT Available: Amendment:
Account Code(s) for Available Funds
1:
Fund Transfers

Attachments
Request Letter Riverwalk Education Foundation and Attachments
2014 Riverwalk Approval
Resolution and Approval Certificate - Riverwalk

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