See announcement below.
See announcement below.
When Public Act 09-110 was approved during the 2009 legislative session, the Connecticut Health and Educational Facilities Authority (CHEFA) began its collaboration with the Credit Union League of Connecticut to create a Credit Union Student Loan Program. The program was established so that low interest rate loans could be offered to Connecticut students experiencing difficulty in obtaining financing for post-secondary education.
Published by the Advisory Committee on Tax Exempt and Government Entities, this white paper reviews the development of "policies, procedures, and systems to insure bonds remain tax-exempt". Over the life of a bond issue "responsible officials may change" and it is important to establish procedures to maintain the tax-exempt status of the bonds.
The Authority hosted a webinar in Fall 2009 for its bond clients to review the Form 990 Schedule K in depth. The following is an overview of this discussion.
HBJ's Greg Bordonaro recently interviewed Jeffrey A. Asher on CHEFA's financing options, and what the Authority is doing to meet the needs of nonprofits in Connecticut.
To read the article, visit http://www.hartfordbusiness.com/news11391.html
Hartford and New Haven, CT – December 11, 2009
Inside this issue:
New Capital Financing Products
The federal government recently unveiled new capital-financing programs to assist nonprofit borrowers in meeting their capital financing needs.
CHEFA Modifies Healthcare Underwriting Guidelines Criteria
Click on attachment for press release
The Ethel Walker School has closed an $8.2 million tax-exempt bond issue through the Connecticut Health and Educational Facilities Authority (CHEFA). Proceeds of the bond issue were used to refinance the school’s existing bonds. The refinancing allowed the school to convert its existing debt from a variable rate to a fixed rate and significantly reduce its interest rate risk.
