Practices: School Finance

Our bond attorneys have substantial experience in representing independent private and church schools in obtaining tax-exempt bond financing for capital facilities. We have represented several of the oldest and most established independent schools in South Carolina with their capital funding needs. These have included both public offerings of bonds as well as private institutional placements. But we have also assisted some of the newest private schools in the state to obtain tax-exempt financing. This includes situations where the alternative conventional bank lending was difficult or expensive to obtain for the new school. We have also pioneered the use of “legacy bonds” in South Carolina to assist a private school in the State. This structure involves the sale of tax-exempt bonds directly to supporters of the school (including alumni and parents), thereby achieving lower than market interest rates for the school, but higher than market returns for the school’s supporters. When combined with a gifting or capital pledge program, this structure can greatly reduce the cost of capital to an independent or church school. The bond attorneys at Howell Linkous & Nettles would be pleased to meet with you and discuss your school’s financing needs for capital improvements or refinancing of existing debt.