Ask the Treasurer

October 2019

Dear Fiona,

I am the president of a private nonprofit university in California. We are exploring the idea of remodeling a couple of our buildings and are looking into our options for financing such a project. I’m interested in learning more about your Bond Financing Program for post-secondary institutions. Specifically, what are the benefits of entering into a bond transaction with the Treasurer’s Office?

Jason

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Dear Jason,

The California Educational Facilities Authority (CEFA) Bond Financing Program provides affordable, tax-exempt bonds to qualified nonprofit higher education institutions that wish to buy or refinance property and equipment, or build and improve campus facilities. There are many benefits of doing business with CEFA. Bond transactions can close in less than two months from the application submission. CEFA offers competitive application and issuance fees. And CEFA also requires only a single TEFRA (Tax Equity and Fiscal Responsibility Act) hearing.

For more information regarding the Bond Financing Program, please visit https://www.treasurer.ca.gov/cefa/bond.asp. If you have further questions, you may contact CEFA at (916) 653-2872 or send an email to CEFA@treasurer.ca.gov.

Sincerely,
Fiona

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California State Treasurer Fiona Ma, Post Office Box 942809, Sacramento, CA 94209-0001