27 Feb, 2008 $49,220,000 Savannah State University Bonds
Tom Gray acted as Bond Counsel and Issuer’s Counsel for the issuance of two series of Bonds for Savannah State University. The $26,245,000 Savannah Economic Development Authority Revenue Refunding and Improvement Bonds (SSU Foundation Real Estate Ventures, LLC University Village Project), Series 2008A and the $22,975,000 Savannah Economic Development Authority Revenue Bonds (SSU Foundation Real Estate Ventures, LLC Indigo Pointe Project), Series 2008B were delivered on February 27, 2008. The proceeds from the sale of the University Village Bonds will be used to finance the acquisition of a 660 bed student housing facility located on the campus of Savannah State University, to advance refund outstanding Bonds, and to fund a portion of the cost to construct and equip a dining/recreational facility. The proceeds from the sale of the Indigo Pointe Bonds will be used to finance the acquisition, renovation, and equipping of an existing apartment complex and converting the same into a 742-bed student housing facility located adjacent to the campus of Savannah State University.