Approval of $30 Million Bond Financing for McKeel Academy Facilities

Original title: Adopt resolution approving plan of finance concerning the issuance by the Polk County Industrial Development Authority (the “Authority”) of its revenue bonds for The Schools of McKeel Academy Project, in a maximum stated principal amount not exceeding $30,000,000 for the purpose of providing funds to make a loan to the Schools of McKeel Academy, Inc. and McKeel Academy Mulberry, LLC for the financing or refinancing of the acquisition, renovation, expansion, design, construction, equipping, and/or furnishing of educational facilities to be operated by The Schools of McKeel Academy, Inc. and McKeel Academy Mulberry, LLC.

Record date · June 2, 2026

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What This Bill Does

The Polk County Board of County Commissioners approved a plan for the to issue up to $30 million in . These funds will be loaned to The Schools of McKeel Academy, Inc. and McKeel Academy Mulberry, LLC to finance or refinance the construction, renovation, and equipping of their educational facilities.

Why it matters

This resolution authorizes the issuance of $30 million in debt to support capital improvements and facility expansion for the McKeel Academy school system in Polk County.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

The Schools of McKeel Academy, Inc.

The organization receives a loan funded by the bond issuance to support facility development.

Directly affected

McKeel Academy Mulberry, LLC

The organization receives a loan funded by the bond issuance to support facility development.

Directly affected

Polk County Industrial Development Authority

The agency is authorized to issue the revenue bonds on behalf of the project.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Will this bond issuance increase my property taxes?

issued by an are typically repaid through the revenue generated by the project or the borrower (in this case, the schools), rather than through general county tax levies.

What is the money being used for?

The funds are for the acquisition, renovation, expansion, design, construction, equipping, and furnishing of educational facilities operated by The Schools of McKeel Academy.

What else do you want to know?

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Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Discoveries

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policy shift90% confidence

Use of Industrial Development Authority for Charter/Private School Funding

The use of an Industrial Development Authority to issue revenue bonds for educational facilities indicates a standard mechanism for private or charter school capital financing in this jurisdiction.

Polk County Industrial Development Authority The Schools of McKeel Academy, Inc.