Approval of $22.5 Million Bond Financing for Berkley Accelerated Middle School

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 Berkley Accelerated Middle School Project, in a maximum stated principal amount not exceeding $22,500,000 for the purpose of providing funds to make a loan for the financing or refinancing of the acquisition, renovation, expansion, design, construction, equipping, and/or furnishing of educational facilities to be operated by Berkley Accelerated Middle School, Inc.

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 Polk County Industrial Development Authority to issue up to $22.5 million in . These funds will be loaned to Berkley Accelerated Middle School, Inc. to finance or refinance the construction, renovation, and equipping of their educational facilities.

Why it matters

This resolution authorizes the issuance of $22.5 million in debt to support the expansion and improvement of facilities at Berkley Accelerated Middle School, Inc.

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

Berkley Accelerated Middle School, Inc.

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

Directly affected

Polk County Industrial Development Authority

The Authority 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?

The document describes , which are typically repaid from the revenue generated by the project or the borrower (the school), rather than general tax levies.

What is the purpose of these bonds?

The bonds provide a loan to Berkley Accelerated Middle School, Inc. to pay for the construction, renovation, and equipment of their school facilities.

What else do you want to know?

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Full breakdown

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Use of Industrial Development Authority for School Funding

The use of an Industrial Development Authority to issue revenue bonds for a private or charter school facility project is a common mechanism for securing tax-exempt financing for educational infrastructure.

Polk County Industrial Development Authority Berkley Accelerated Middle School, Inc.