MEMORANDUMLease Revenue Bonds • May 22nd, 2020
CPLC South Phoenix Charter Schools Holding, LLC (the “Borrower”), is an Arizona limited liability company whose sole member is Chicanos Por La Causa, Inc., a nonprofit corporation and exempt organization under Section 501(c)(3) of the Internal Revenue Code. The Borrower has requested that the Phoenix IDA issue its Lease Revenue Bonds (ASU Preparatory Academy Project), Series 2020, in one or more tax-exempt or taxable series, in an aggregate principal amount not to exceed $8,000,000 to acquire, construct, improve, and equip two charter school facilities to be operated by ASU Preparatory Academy, an Arizona nonprofit corporation. The Borrower will seek Phoenix City Council approval on June 17, 2020, pending Phoenix IDA Board approval.