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Transaction Summary
��Թ� partnered with Academy for Classical Education to structure a $7,500,000 Bank Loan. Proceeds of the 2025 Bank Loan were used to:

Finance the construction of an approximately 27,000 square foot gymnasium that will include a separate multi-purpose space, weight room and locker rooms;
Fund the replacement of an existing school facility parking lot;
Pay certain costs of issuance relating to the 2025 Bank Loan.

About Academy for Classical Education ABOUT
Academy for Classical Education (ACE) is a K-12 charter school in Macon, Georgia that has been in operation since 2014. ACE was approved for its original charter in 2013 and has been renewed two times, including its most recent five-year renewal in 2025 ending on June 30, 2030. ACE is authorized by the State Charter Schools Commission of Georgia (“SCSC”). A five-year term is the longest charter term available in Georgia.

ACE is the largest brick-and-mortar charter school in Georgia, currently serving over 1,800 students. ACE’s financial metrics have been robust, with an average debt service coverage ratio (DSCR) of over 2.0x and 150 days of cash on hand (DCOH) over the past three years. Additionally, ACE has consistently reinvested in its campus, spending nearly $7.4 million on capital improvements over the current fiscal year and the previous three fiscal years.

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TheHospitalFacilityAuthorityofHillsboroOR-2025-09-30

Wendy.Smith@psc.com — Tue, 04 Nov 2025 19:46:48 +0000

TheHospitalFacilityAuthorityofHillsboroOR-2025-09-30 Wendy.Smith@psc.com Tue, 11/04/2025 - 13:46

The Hospital Facility Authority of Hillsboro, OR

Refunding Revenue Bonds (Tuality Healthcare dba Hillsboro Medical Center)

Series 2025

Tue, 09/30/2025 - 12:00

$8.1 Million

Cultural & Social Service Nonprofits

Healthcare

Sole Manager

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IowaFinanceAuthority-2025-09-26

Wendy.Smith@psc.com — Tue, 04 Nov 2025 19:46:46 +0000

IowaFinanceAuthority-2025-09-26 Wendy.Smith@psc.com Tue, 11/04/2025 - 13:46

Iowa Finance Authority

Senior Living Facility Revenue Bonds (Presbyterian Homes Mill Pond Project)

Series 2025

Fri, 09/26/2025 - 12:00

$55.6 Million

Real Estate

Senior Living

Sole Manager

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CityofMarysvilleWA-2025-09-25

Wendy.Smith@psc.com — Tue, 04 Nov 2025 19:46:46 +0000

CityofMarysvilleWA-2025-09-25 Wendy.Smith@psc.com Tue, 11/04/2025 - 13:46

City of Marysville, WA

Limited Tax General Obligation Bond

Series 2025

Thu, 09/25/2025 - 12:00

$4.5 Million

Government

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PublicHospitalDistrictNo4KingCountyWA-2025-09-25

Wendy.Smith@psc.com — Tue, 04 Nov 2025 19:46:46 +0000

PublicHospitalDistrictNo4KingCountyWA-2025-09-25 Wendy.Smith@psc.com Tue, 11/04/2025 - 13:46

Public Hospital District No. 4 King County, WA

Hospital Revenue and Refunding Bonds (Snoqualmie Valley Health)

Series 2025A

Thu, 09/25/2025 - 12:00

$177.9 Million

Healthcare

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AdelDeSotoMinburnCommunitySchoolDistrictIA-2025-09-25

Wendy.Smith@psc.com — Tue, 04 Nov 2025 19:46:46 +0000

AdelDeSotoMinburnCommunitySchoolDistrictIA-2025-09-25 Wendy.Smith@psc.com Tue, 11/04/2025 - 13:46

Adel-DeSoto-Minburn Community School District, IA

School Infrastructure Sales, Services and Use Tax Revenue Bonds

Series 2025

Thu, 09/25/2025 - 12:00

$19.0 Million

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SulphurSpringsUnionSchoolDistrictLosAngelesCountyCA-2025-09-24

Wendy.Smith@psc.com — Tue, 04 Nov 2025 19:46:46 +0000

SulphurSpringsUnionSchoolDistrictLosAngelesCountyCA-2025-09-24 Wendy.Smith@psc.com Tue, 11/04/2025 - 13:46

Sulphur Springs Union School District, Los Angeles County, CA

General Obligation Refunding Bonds

Series 2025

Wed, 09/24/2025 - 12:00

$22.9 Million

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NorthshoreSchoolDistrictNo417KingandSnohomishCountiesWA-2025-09-24

Wendy.Smith@psc.com — Tue, 04 Nov 2025 19:46:46 +0000

NorthshoreSchoolDistrictNo417KingandSnohomishCountiesWA-2025-09-24 Wendy.Smith@psc.com Tue, 11/04/2025 - 13:46

Northshore School District No. 417, King and Snohomish Counties, WA

General Obligation and Refunding Bonds

Series 2025

Wed, 09/24/2025 - 12:00

$111.6 Million

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CityofFairGroveMO-2025-09-23

Wendy.Smith@psc.com — Tue, 04 Nov 2025 19:46:45 +0000

CityofFairGroveMO-2025-09-23 Wendy.Smith@psc.com Tue, 11/04/2025 - 13:46

City of Fair Grove, MO

General Obligation Bonds

Series 2025

Tue, 09/23/2025 - 12:00

$1.0 Million

Government

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Dollar

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