Description
Title: Issuance of Taxable Educational Facilities Revenue Bonds (Valley College of Osteopathic Medicine Project), Series 2026 (Resolution 22365) - District 3
Summary
The document outlines a resolution by the City of Phoenix granting final approval for the issuance of up to $120 million in taxable educational facilities revenue bonds to finance the Valley College of Osteopathic Medicine project. The Industrial Development Authority of Phoenix seeks to issue these bonds, which will provide funding for acquiring, constructing, and equipping the college's facilities. The resolution confirms that the bonds will also cover existing debts, establish reserve funds, and support the college’s working capital needs. This legislation is significant as it facilitates educational development in Phoenix, potentially enhancing local healthcare education and employment opportunities.