Marshall B. Ketchum University, which describes its mission as “educat[ing]caring, inspired health care professionals who are prepared to deliver collaborative, patient-centric health care in an interprofessional environment,” plans to open an Anaheim campus in 2016 to house an eye-care clinic and research facilities.
From the OC Register:
The nonprofit health care school is poised to purchase a vacant building at 5460 La Palma Ave., with help from $36million in conduit revenue bonds scheduled to be issued this month by the city of Fullerton.
Federal law requires that debt obligations issued on behalf of universities and colleges must be done through a conduit – such as a city – that is authorized to issue tax-exempt bonds. There is no financial risk for either city, officials said.
Construction is expected to start in spring and be completed within a year, said John Woodhouse, head of Anaheim’s Community Development Department.
The deal was approved in December by both the Fullerton and Anaheim city councils.
The bonds will also refinance the university’s outstanding debt balance of $15million, which is the amount remaining from a $23.6million bond issuance by Fullerton to the university in 2004, according to a report by Fullerton city officials.
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