IBank State Emergency Loan Nears Early Payoff

Scope & details

The full contract record, as filed.

Contract amount

Original lease revenue bonds totaling $14.4 million; outstanding principal $4,345,000 as of June 12, 2026

Contract type

FINANCIAL_SERVICES

Contract term

State emergency loan issued between July 2009 and April 2010; final repayment scheduled by October 2028 with bondholder payments through August 2029; South Monterey County JUHSD plans payoff by August 2026

Renewal date

2028-10-31

Renewal

No renewals specified; loan scheduled for payoff by October 2028, with the district planning early defeasance by August 2026 to satisfy non-impairment conditions.

Document type

StaffReport

Source document

California State Board of Education StaffReport Proposed Formation of a New Greenfield Unified School District and New King City Unified School District 2026-07-01

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California State Board of Education Agenda Item 09 2026-07-01

ONGOING

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California State Board of Education AgendaPacket Proposed Formation of a New Greenfield Unified School District and New King City Unified School District 2026-07-01

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California Virtual Academy at Maricopa District, California$14,400,000 original lease revenue bonds; approximately $4,345,000 outstanding principal as of June 12, 2026Jul 1, 2026

California State Board of Education AgendaPacket Proposed Formation of a New Greenfield Unified School District and New King City Unified School District 2026-07-01

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State Water Resources Control Board Meeting Agenda February 2026

APPROVED

California State Water Resources Control Board, Californiaup to $158,475,000Feb 18, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by California Virtual Academy at Maricopa District?

California Infrastructure and Economic Development Bank was awarded this financial services contract by California Virtual Academy at Maricopa District, as recorded on July 1, 2026. The contract value is Original lease revenue bonds totaling $14.4 million; outstanding principal $4,345,000 as of June 12, 2026.

How much is the California Infrastructure and Economic Development Bank contract with California Virtual Academy at Maricopa District worth?

The California Infrastructure and Economic Development Bank contract with California Virtual Academy at Maricopa District is valued at Original lease revenue bonds totaling $14.4 million; outstanding principal $4,345,000 as of June 12, 2026, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a staffreport record.

Where was this contract approved?

This contract appears in California State Board of Education StaffReport Proposed Formation of a New Greenfield Unified School District and New King City Unified School District 2026-07-01 (StaffReport), dated July 1, 2026 from California Virtual Academy at Maricopa District. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does California Infrastructure and Economic Development Bank hold?

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