State Emergency School Loan with IBank Nears Defeasance
California Virtual Academy at Maricopa DistrictSchool · Simi Valley, CA- Disclosed value
- $14,395,000 initial lease revenue bond issue; outstanding principal $4,345,000 as of June 12, 2026
- From agendapacket
- Document date
- Jul 1, 2026
- Renews
- Free account
The 30-second brief
The South Monterey County Joint Union High School District continues to repay a state emergency loan financed through lease revenue bonds with the California Infrastructure and Economic Development Bank, using Greenfield High School as collateral. The district plans to defease the remaining approximately $4.3 million in principal by August 2026 to remove a non‑impairment provision that currently blocks school district reorganization.
California Infrastructure & Economic Development Bank holds this financial services contract with California Virtual Academy at Maricopa District. Its other public contracts on record include work for Olivenhain Municipal Water District and California State Water Resources Control Board.
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Contract details
- Contract type
- Financial Services
- Amount
- $14,395,000 initial lease revenue bond issue; outstanding principal $4,345,000 as of June 12, 2026
- Document date
- July 1, 2026
- 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
- Renews
- On record
- 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 (AgendaPacket)
California Infrastructure & Economic Development Bank's other public contracts
More California Virtual Academy at Maricopa District contracts
Questions about this contract
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.
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What other contracts does California Infrastructure & Economic Development Bank hold?
California Infrastructure & Economic Development Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is California Virtual Academy at Maricopa District currently buying?
Explore California Virtual Academy at Maricopa District's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.