St. Ursula Villa
Port Authority conduit for school renovation financing
The St. Ursula Villa project consists of renovating, installing, and equipping the first floor of the Manor House with an addition of a pre-school and the construction, installation, and equipping of an addition to the Main School Building for junior high classroom space. The Port was asked to serve as the conduit issuer for up to $5,300,000 in first mortgage loan bonds from Commerce Bank. The proceeds of the bonds will be used exclusively for the renovations and additions made to the pre-school and junior high classroom space at St. Ursula Villa and for refinancing existing debt.