Burleigh County Commission AgendaPacket 2026-05-18
County approves $8M bonds for University of Mary
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Description
The Burleigh County Commission approved issuance of up to $8 million in Education Facilities Revenue Bonds to be loaned to the University of Mary for refinancing prior bonds and financing new campus capital projects, under a Loan Agreement dated as of June 15, 2026. The bonds will mature within 27 years and are payable solely from University revenues under the loan agreement, not from county taxes.
Contract Details
Contract Amount
Not to exceed $8,000,000
Vendor
UNIVERSITY OF MARY
Agency
Town of Canfield, ND
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
Bonds to mature not later than 27 years after date of issuance; Loan Agreement dated as of June 15, 2026 (or other agreed date)
Renewal Info
Single series of education facilities revenue bonds issued under a Loan Agreement; bonds may be adjusted or amended under future amendments authorized to the County Chair and Administrator, but no automatic renewal is contemplated.
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