Transaction Summary
Piper Sandler served as Sole Manager of Constellation Schools (“Constellation”) $31,160,000 issuance of non-rated Tax-Exempt Refunding and Improvement Lease Revenue Bonds, Series 2024A and Taxable Lease Revenue Bonds, Series 2024B through Cleveland-Cuyahoga County Port Authority. Proceeds of the Series 2024 Bonds were used to finance the current refunding of Constellation’s outstanding Tax-Exempt Refunding and Improvement Lease Revenue Bonds, Series 2014; to finance capital improvements to school facilities in Cleveland and Parma including Madison Community Elementary, Old Brooklyn Elementary & Middle Schools, Parma Community Elementary, Middle & High Schools, Stockyard Community Elementary and Westpark Community Elementary and Middle Schools; to fund a debt service reserve fund to secure the timely payment of the Series 2024 bonds; and to pay the costs of issuance.

About Constellation Schools
Founded in 2001, Constellation Schools grew out of a community’s desire to offer an educational choice that balanced academic achievement with life skills, character education, and social-emotional learning. Over the years, Constellation Schools garnered many awards including the United States Department of Education’s Blue Ribbon award and multiple School of Promise and Momentum awards from the OHDOE.  Constellation Schools is comprised of 15 learning communities operated by ACCEL Schools Ohio LLC, a Delaware limited liability company, one of the nation’s leading charter school management companies.