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Council grants permission for CAPFA to finance charter school project; says city not liable for bonds
Summary
The council approved an interlocal agreement and a limited approval required by federal tax rules that allows the Capital Projects Finance Authority to act as conduit issuer for tax-exempt bonds for a charter school; city officials stressed the city will not be liable for the debt.
The Cape Coral City Council voted to authorize an interlocal agreement with the Capital Projects Finance Authority (CAPFA) that allows the authority to act as a conduit issuer so a charter school can access tax-exempt bonds for a building project.
The resolution — listed as Resolution 43-25 in the council packet — grants the authority permission to finance the project in the city and fulfills an Internal Revenue Code requirement that the project be approved by the…
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