State Emergency School Loan with IBank Nears Defeasance

Scope & details

The full contract record, as filed.

Contract amount

$14,395,000 initial lease revenue bond issue; 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; lease revenue bonds scheduled for final repayment by October 2028 with bondholder payments through August 2029

Renewal date

2028-10-15

Renewal

Original emergency loan authorized by Senate Bill 130 in 2009 and refinanced in 2010 through IBank lease revenue bonds; no automatic renewal, but bonds amortize through approximately October 2028–August 2029 unless defeased early as now planned.

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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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 & 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 $14,395,000 initial lease revenue bond issue; outstanding principal $4,345,000 as of June 12, 2026.

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

The California Infrastructure & Economic Development Bank contract with California Virtual Academy at Maricopa District is valued at $14,395,000 initial lease revenue bond issue; 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 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.

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

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