IBank Lease Financing Tied to State Emergency Loan

Scope & details

The full contract record, as filed.

Contract amount

$14,400,000 original lease revenue bonds; approximately $4,345,000 outstanding principal as of June 12, 2026

Contract type

FINANCIAL_SERVICES

Contract term

Lease revenue bonds issued in 2010 with final repayment scheduled by October 2028; bondholder payments through August 2029

Renewal date

2028-10-31

Renewal

State emergency loan and related lease revenue bonds remain in effect until defeased or fully repaid; district has adopted a resolution to pay off remaining principal by August 2026 ahead of the scheduled October 2028 payoff.

Document type

AgendaPacket

Source document

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

ONGOING

California Department of Education - California State Board of Education, CaliforniaJul 1, 2026

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

ONGOING

California Virtual Academy at Maricopa District, CaliforniaOriginal lease revenue bonds totaling $14.4 million; outstanding principal $4,345,000 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

DISCUSSED

California Virtual Academy at Maricopa District, CaliforniaJul 1, 2026

Olivenhain Municipal Water District Agenda Packet 2026-05-20

PENDING

Olivenhain Municipal Water District, CaliforniaMay 20, 2026

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 $14,400,000 original lease revenue bonds; approximately $4,345,000 outstanding principal 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 $14,400,000 original lease revenue bonds; approximately $4,345,000 outstanding principal as of June 12, 2026, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in 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 (AgendaPacket), dated July 1, 2026 from California Virtual Academy at Maricopa District. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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