Gahanna to serve again as conduit issuer for Columbus Academy bonds; emergency timing sought to meet Jan. 1 closing

Gahanna officials on Nov. 24 introduced a request for the city to act as a conduit issuer for tax‑exempt revenue bonds for Columbus Academy, allowing the nonprofit school to refinance prior debt and fund a new facilities building tied to recent campus renovations. Director (Economic Development) said the city’s role is procedural and stressed there is "no commitment of city resources, debt capacity, or guarantees" in the transaction.

The administration and bond counsel told council the measure follows prior conduit issuances in 2015 and 2019 and that the bonds are purchased and repaid by a financial institution and the borrower. Bond counsel Mark Kamer said statutory notice rules and public‑hearing requirements mean the administration is seeking an emergency timetable so the bond can close by Jan. 1, 2026. Councilmembers asked whether the required public hearing could instead be held at the Dec. 1 meeting; staff replied notice timing made that impractical and recommended the hearing and second reading occur on Dec. 15 if necessary.

Weston Outlaw, identified as Columbus Academy’s chief financial officer, attended the meeting with bond counsel to answer project questions. Outlaw and counsel described the use of proceeds as primarily refinancing the existing 2019 bonds and paying for capital projects, including a new facilities building tied to a renovated academic space for maker spaces and the IT department.

Council and staff agreed to schedule the item for first reading on Dec. 1 and to place it on the regular agenda on Dec. 15, with the administration seeking mechanisms (emergency/waiver) needed to meet statutory timing for the closing.

The council did not take a formal vote on Nov. 24; the next procedural steps will be the required public hearing and any subsequent readings or emergency action at upcoming December meetings.