Draper and West Valley, Utah

Utah Charter Academies

American Preparatory Academy Schools

Draper and West Valley, Utah

$29,590,000

$28,985,000 Charter School Revenue Bonds, Series 2015A

$605,000 Charter School Revenue Bonds, Series 2015B (Federally Taxable)

June 2015

Baird served as Sole Managing Underwriter

This financing qualified for the Utah Charter School Credit Enhancement

Program, resulting in a ¡°AA¡± rating by S&P (¡°BBB-¡± Underlying).

Utah Charter Academies (¡°UCA¡±) American Preparatory Academy Schools

Mission: To ensure each student achieves maximum academic success by teaching skills to mastery

levels, imparting valuable knowledge, transmitting the common culture that binds us as a nation, and

exposing children to supreme examples of artistic and intellectual achievement.

Financing Need:

? Finance/refinance the costs of acquiring,

constructing, and /or equipping all or a portion of

the charter school facilities and the related sites

for UCA

Financing Results:

? Bond Rating of ¡°AA¡± (¡±BBB-¡± underlying) by S&P

? 30-year fixed rate financing

? Secured a True Interest Cost of 4.13%

Acquisition/

Construction

7%

Enrollment

4,000

3,500

3,499

3,000

3,435

2,500

For additional information about this offering,

please contact:

2,000

Jim Blandford

Managing Director

303.270.6331

jblandford@

1,500

Financing Purpose

1,000

500

Refinancing

loans

93%

Stacey Leigh

Vice President

303.270.6338

sleigh@

460

©\

Opened

2003©\04

1 School (K©\9)

2014©\15

4 Schools

(K©\12)

Projected

Enrollment

2019©\20

4 Schools

National Charter School Finance Group

210 University Blvd. #460

Denver, CO 80206

303.270.6330

charterschools

Robert W. Baird & Co.

Employee¨Cowned financial services company. Baird focuses on great outcomes and how to achieve them for our clients.

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? 2015 Robert W. Baird & Co., Member SIPC. Every school¡¯s needs are unique and experiences and results will differ. Please visit for more information on municipal bonds.

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