Gahanna city staff asked the council on Monday to authorize the city to act as a conduit issuer for tax‑exempt revenue bonds to be purchased by a financial institution for Columbus Academy, a repeat of prior arrangements in 2015 and 2019.

The Department of Economic Development described the request as procedural and said the transaction would not involve “any commitment of city resources, debt capacity, or guarantees,” meaning the city would issue the bonds on behalf of the nonprofit but not hold the obligation on its books, staff said. The administration requested an emergency designation so a required public hearing and second reading could be completed in time for a Jan. 1, 2026 closing.

Weston Outlaw, identified in the presentation as the CFO of Columbus Academy, and bond counsel Mark Kammer of Dinsmore were present to answer questions. Council members asked about scheduling the required public hearing and whether the notice period would permit a Dec. 1 hearing. Counsel advised that notices must be posted at least seven days before Dec. 1 and that dispatch timing prevented meeting the Dec. 1 deadline this week, so staff proposed a Dec. 15 second-reading/public‑hearing schedule, with first reading on Dec. 1 and an emergency clause to allow the ordinance to take effect immediately if approved.

Why it matters: Conduit financings allow nonprofits to access tax‑exempt capital while keeping the repayment obligation with the borrower and the purchasing lender. Council members sought confirmation the arrangement would not affect city debt capacity; staff reiterated the city would not guarantee repayment and the bonds would not be recorded on the city’s books.

What’s next: Staff said the item will be placed on the Dec. 1 agenda for first reading and returned to the regular agenda on Dec. 15 for the public hearing and second reading, with the administration requesting an emergency so the bonds could close by Jan. 1, 2026.