Transaction Summary
Piper Sandler served as Sole Manager of Spectrum High School’s (Spectrum) $10,000,000 issuance of “BB+” rated Charter School Lease Revenue Bonds, Series 2024 through the City of Bethel, MN. Proceeds of the Series 2024 Bonds were used to finance construction and equipping at an existing charter school middle school grade 7-8 facility in the City of Elk River including an approximately 45,000 square foot addition for use as a fieldhouse and additional classrooms, refinance certain indebtedness of the charter school previously incurred in the acquisition or betterment of its existing facilities, fund the payment of capitalized interest on the Series 2024  bonds, fund an additional deposit to the debt service reserve fund for the Series 2024 bonds and pay the costs of issuance of the 2024 bonds.

About Spectrum High School
Spectrum High School is a Minnesota college prep public charter school currently serving grades six through twelve, with a planned expansion to include grade five beginning with the 2025-2026 school year. Spectrum’s educational program is based on a college preparatory education model. Spectrum began instruction in the 2006-2007 school year with 66 students in grades 9-10 and has experienced consistent growth in enrollment throughout its existence, entering into its nineteenth year of operation during the 2024-2025 school year.  As enrollment at the Charter School grew, Spectrum expanded its facilities to serve students in grades six through twelve at three separate buildings. Spectrum also operates an athletic complex containing an outdoor hockey rink, football, baseball, softball, and soccer fields, a running track, and two outbuildings.