Ballard Spahr Counsels on Revenue Bonds to Finance Improvements at Millbrook School in NY
Attorneys from Ballard Spahr’s Public Finance Group served as bond and borrower’s counsel for the issuance of $22.3 million in tax-exempt revenue bonds to benefit Millbrook School in Dutchess County, New York.
The bonds were issued this week by the Dutchess County Local Development Corporation in Poughkeepsie. The bonds will finance the acquisition, construction, renovation, improvement, and equipping of facilities at the Millbrook School campus, as outlined in the school’s capital plan. The facilities include Alumni House, Pulling House (named for the school’s founder), and faculty housing (including acquisition and construction of new faculty housing). A portion of the proceeds will be used for other miscellaneous capital expenditures, to refund bonds issued in 2013, and to pay certain issuance costs.
For media inquiries, please contact Bill Shralow at 215.864.8195.