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Efa   ppt  9-2013
Efa   ppt  9-2013
Efa   ppt  9-2013
Efa   ppt  9-2013
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Efa ppt 9-2013

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The PPT reviews why charter schools are an appropriate EB-5 project type. The PPT covers: what are charter schools, why EB-5 is good for the school and the EB-5 investor, how the projects are …

The PPT reviews why charter schools are an appropriate EB-5 project type. The PPT covers: what are charter schools, why EB-5 is good for the school and the EB-5 investor, how the projects are structured, how job creation occurs, how the investors get repaid and why the relative quick USCIS approval timeframe.

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  • Each EB-5 requires 10 jobs.As long as there are enough students, there will be enough jobs because tuition income is guaranteed by the government.Other EB-5 projects need to take time to create enough jobs. Our schools will have enough jobs on the First Day of school.
  • Actual student enrollment is much higher than planed because of high demand.
  • An Affidavit is a legally bidding document. Actual student enrollment is much higher than planed because of high demand.
  • (Jean Allen, President, Center for Education Reform, Washington, DC)
  • EB5 investors join together to form a limited partnership company. They are the only partners (shareholders) of that company. EFA is the general partner (manager) of that company.ACD = American Charter DevelopmentThe Charter School itself is non-profit.Municipal bonds are guaranteed by the government. They are usually purchased by investment companies within a day. They carry very low interest.
  • EB5 investors join together to form a limited partnership company. They are the only partners (shareholders) of that company. EFA is the general partner (manager) of that company.ACD = American Charter DevelopmentThe Charter School itself is non-profit.Municipal bonds are guaranteed by the government. They are usually purchased by investment companies within a day. They carry very low interest.
  • EB5 investors join together to form a limited partnership company. They are the only partners (shareholders) of that company. EFA is the general partner (manager) of that company.ACD = American Charter DevelopmentThe Charter School itself is non-profit.Municipal bonds are guaranteed by the government. They are usually purchased by investment companies within a day. They carry very low interest.
  • EB5 investors join together to form a limited partnership company. They are the only partners (shareholders) of that company. EFA is the general partner (manager) of that company.ACD = American Charter DevelopmentThe Charter School itself is non-profit.Municipal bonds are guaranteed by the government. They are usually purchased by investment companies within a day. They carry very low interest.
  • EB5 investors join together to form a limited partnership company. They are the only partners (shareholders) of that company. EFA is the general partner (manager) of that company.ACD = American Charter DevelopmentThe Charter School itself is non-profit.Municipal bonds are guaranteed by the government. They are usually purchased by investment companies within a day. They carry very low interest.
  • EB5 investors join together to form a limited partnership company. They are the only partners (shareholders) of that company. EFA is the general partner (manager) of that company.ACD = American Charter DevelopmentThe Charter School itself is non-profit.Municipal bonds are guaranteed by the government. They are usually purchased by investment companies within a day. They carry very low interest.
  • Transcript

    1. www.edufundamerica.com American  Charter   Development,  LLC   Financing Schools that Inspire Children
    2. www.edufundamerica.com American  Charter   Development,  LLC   SCHOOLS AND EB-5 PERFECT! Project Overview Champs at Wellington and the Education Fund of America offer EB-5 investors a unique opportunity to invest in a government funded privately managed public charter school. Public charter schools have proven countless times their ability to create jobs and have demonstrated an ability to return investor funds, typically within three to four years. Our school developer, American Charter Development, LLC (ACD), will be developing the CHAMPS at Wellington school to open in the fall of 2014. The school will educate 580 students in kindergarten through 5th grade. ACD has already developed 24 charter schools and will construct another 20+ in 2014 school year. All ACD schools have been successful growing student populations and creating many more jobs then were originally planned. Direct EB-5 Project - Approvals Generally in 4-6 months EB-5 funds to be repaid when the school purchases their facility - planned for 48 months, or soon after all I-829 approvals. Charter School – West Palm Beach, Florida Government Payments State pays tuition $500,000 Direct EB-5 Investment School in TEA Quick Return of EB-5 Funds Likely in 42 months Only 3 EB-5 Investor openings 36 jobs will be created Source of Investment Funds Amount Percent Project Equity 1,552,991$ 25.0% EB-5 Investor 1,500,000$ 25.0% Senior Debt 3,052,991$ 50% Total 6,105,981$ 100% SCHOOLS AND EB-5 PERFECT! Project Overview Champs at Wellington and the Education Fund of America offer EB-5 investors a unique opportunity to invest in a government funded privately managed public charter school. Public charter schools have proven countless times their ability to create jobs and have demonstrated an ability to return investor funds, typically within three to four years. Our school developer, American Charter Development, LLC (ACD), will be developing the CHAMPS at Wellington school to open in the fall of 2014. The school will educate 580 students in kindergarten through 5th grade. ACD has already developed 24 charter schools and will construct another 20+ in 2014 school year. All ACD schools have been successful growing student populations and creating many more jobs then were originally planned. Direct EB-5 Project - Approvals Generally in 4-6 months EB-5 funds to be repaid when the school purchases their facility - planned for 48 months, or soon after all I-829 approvals. Charter School – West Palm Beach, Florida Government Payments State pays tuition $500,000 Direct EB-5 Investment School in TEA Quick Return of EB-5 Funds Likely in 42 months Only 3 EB-5 Investor openings 36 jobs will be created Source of Investment Funds Amount Percent Project Equity 1,552,991$ 25.0% EB-5 Investor 1,500,000$ 25.0% Senior Debt 3,052,991$ 50% Total 6,105,981$ 100% www.edufundamerica.com Project Overview Champs at Wellington and the Education Fund of America offer EB-5 investors a unique opportunity to invest in a government funded privately managed public charter school. Public charter schools have proven countless times their ability to create jobs and have demonstrated an ability to return investor funds, typically within three to four years. Our school developer, American Charter Development, LLC (ACD), will be developing the CHAMPS at Wellington school to Direct EB-5 Project - Approvals Generally in 4-6 months Charter School – West Palm Beach, Florida Government Payments State pays tuition $500,000 Direct EB-5 Investment School in TEA Quick Return of EB-5 Funds Likely in 42 months Only 3 EB-5 Investor openings 36 jobs will be created Project Overview Champs at Wellington and the Education Fund of America offer EB-5 investors a unique opportunity to invest in a government funded privately managed public charter school. Public charter schools have proven countless times their ability to create jobs and have demonstrated an ability to return investor funds, typically within three to four years. Our school developer, American Charter Development, LLC (ACD), will be developing the CHAMPS at Wellington school to open in the fall of 2014. The school will educate 580 students in kindergarten through 5th grade. ACD has already developed 24 charter schools and will construct another 20+ in 2014 school year. All ACD schools have been successful growing student Direct EB-5 Project - Approvals Generally in 4-6 months Charter School – West Palm Beach, Florida Government Payments State pays tuition $500,000 Direct EB-5 Investment School in TEA Quick Return of EB-5 Funds Likely in 42 months Only 3 EB-5 Investor openings 36 jobs will be created Project Overview Champs at Wellington and the Education Fund of America offer EB-5 investors a unique opportunity to invest in a government funded privately managed public charter school. Public charter schools have proven countless times their ability to create jobs Direct EB-5 Project - Approvals Generally in 4-6 months Charter School – West Palm Beach, Florida Government Payments State pays tuition $500,000 Direct EB-5 Investment School in TEA Quick Return of EB-5 Funds Likely in 42 months Only 3 EB-5 Investor openings 36 jobs will be created Direct EB-5 Project - Approvals Generally in 4-6 months Charter School – West Palm Beach, Florida Government Payments State pays tuition $500,000 Direct EB-5 Investment School in TEA Quick Return of EB-5 Funds Likely in 42 months Only 3 EB-5 Investor openings 36 jobs will be created
    3. www.edufundamerica.com American  Charter   Development,  LLC   Education Fund of America, LLC provides financing for schools that Inspire Children. The Company is part of a corporate finance business that provided over $5 billion (USD) to companies throughout the USA. Because of it’s expertise, the company safeguards it’s 22 years of successful history by only sponsoring schools for EB-5 investors that are Safe, Secure, and Predictable. This summary overview is qualified in its entirety by the Private Placement Memorandum detailing all the terms, conditions and forward looking statements. Bond funds have been used to finance over $5 billion USD of charter schools in the USA. Investor funds will not be returned prior to the I-829 adjudication. I T f t T t R U T r p B i Direct EB-5 USCIS processing time: 4 – 6 months Regional Center USCIS processing time: 16+ Months USCIS processing I-526 petitions from March 2012 – in Sept. 2013
    4. www.edufundamerica.com American  Charter   Development,  LLC   Risk  Mi'ga'on:   If  school  fails  to  create  10  jobs  for  an  investor.   We:   – Do  not  submit  that  school  project’s  I-­‐829   – Move  investors  $500,000  to  a  new  school   – Submit  a  replacement  I-­‐526  to  USCIS   – Prove  jobs  were  created  by  the  new  school   – Repay  EB-­‐5  investor’s  $500,000.   ChampionCCCChChaha CHAMPS at Wellington The new school will be located in beautiful West Palm Beach, Florida - about 75 miles north of Miami. There are 1.3 million people in Palm Beach County. The School will be a two story, 33,000 square foot facility located on 5 acres of land. The new school will be built with 30 classrooms, a computer lab, multipurpose space, library, office spaces and a teachers work area. Investment Considerations The school will be 100% financed by a bond fund and those funds will be used to purchase the land and construct the new school facility. The EB-5 investors funds will be used to repay the bond loan - classified as a bridge loan. Repaying a bridge loan is an approved ChampionCCCChChaha CHAMPS at Wellington The new school will be located in beautiful West Palm Beach, Florida - about 75 miles north of Miami. There are 1.3 million people in Palm Beach County. The School will be a two story, 33,000 square foot facility located on 5 acres of land. The new school will be built with 30 classrooms, a computer lab, multipurpose space, library, office spaces and a teachers work area. Investment Considerations The school will be 100% financed by a bond fund and those funds will be used to purchase the land and construct the new school facility. The EB-5 investors funds will be used to repay the bond loan - classified as a bridge loan. Repaying a bridge loan is an approved USCIS activity. The investor’s $500,000 is planned to be returned when the school finances the purchase of the school - using bond funds. Bond funds have been used to finance over $5 billion USD of charter schools in the USA. Investor funds will not be returned prior to the I-829 adjudication.
    5. www.edufundamerica.com American  Charter   Development,  LLC   Why  we  finance  Charter  Schools  
    6. www.edufundamerica.com American  Charter   Development,  LLC   Public  Charter  Schools  Are:   •  Privately  Managed  -­‐  Public  Schools     •  Funded  by  State  Government       •  Benefits  to  Parents  &  Children:   –  Academic  excellence   –  Inspiring  environment  
    7. www.edufundamerica.com American  Charter   Development,  LLC   Public  Charter  Schools  Are:   •  Licensed  by  the  State  Government     •  Compete  with  Public  schools  for   the  students   •  Offer  Parents  and              children  a  CHOICE  
    8. www.edufundamerica.com American  Charter   Development,  LLC   Direct Job Creation – Charter Schools One  new  job  is  created  for  every  14  –  16    students   (on  average  -­‐  depending  on  the  school)  
    9. www.edufundamerica.com American  Charter   Development,  LLC   Job Creation & Students 8,300 students enrolled   553 jobs created     School&Name 1 Summit Academy 2 American Leadership Academy 3 Lincoln Academy 4 Ronald Reagan Academy 5 Thomas Edison Academy South 6 Mountainland Technology 7 Noah Webster Academy 8 Washington Academy 9 Odyssey Preparatory Academy 10 CS Lewis Academy 11 Dual Immersion Academy 12 Berean Academy 13 Mountainville Academy 14 Legacy Traditional Schools 15 Mosaica Academy 16 Champion Schools 17 Starshine Academy (Temporary Site) Total Student Enrollment Enrollment Enrollmen Plan 2012 550 1,024 1,200 1,772 550 640 500 677 450 576 300 475 500 550 400 725 600 900 200 430 350 460 500 550 600 680 600 1,100 400 560 400 560 200 254 8,300 11,933 Our School Developer
    10. www.edufundamerica.com American  Charter   Development,  LLC   As  of  December  2012   11,933  students  enrolled     242 more jobs created than were planed School&Name 1 Summit Academy 2 American Leadership Academy 3 Lincoln Academy 4 Ronald Reagan Academy 5 Thomas Edison Academy South 6 Mountainland Technology 7 Noah Webster Academy 8 Washington Academy 9 Odyssey Preparatory Academy 10 CS Lewis Academy 11 Dual Immersion Academy 12 Berean Academy 13 Mountainville Academy 14 Legacy Traditional Schools 15 Mosaica Academy 16 Champion Schools 17 Starshine Academy (Temporary Site) Total Student Enrollment Enrollment Enrollment& Plan 2012 550 1,024 1,200 1,772 550 640 500 677 450 576 300 475 500 550 400 725 600 900 200 430 350 460 500 550 600 680 600 1,100 400 560 400 560 200 254 8,300 11,933 795 Jobs Created
    11. www.edufundamerica.com American  Charter   Development,  LLC   5/18/13 8:18 AMMichael Van Beek: What Michigan's Charter Schools Can Teach the Country - WSJ.com Page 1 of 3http://online.wsj.com/article/SB10001424127887323375204578271853227727678.html#printMode See a sample reprint in PDF format. Order a reprint of this article now OPINION May 17, 2013, 6:38 p.m. ET By MICHAEL VAN BEEK Public charter schools now serve 2.3 million children nationwide and enjoy growing bipartisan support. But they are still loathed by teachers unions and traditional public-school officials more interested in protecting their piece of the school-funding pie than in providing students trapped in failing schools with a chance at a decent education. Those familiar with the controversy over charters have probably heard of the 2009 study by Stanford University's Center for Research on Education Outcomes. The Credo study, routinely cited by groups opposed to school choice, analyzed charter schools in 16 states and found that, on average, only 17% were outperforming conventional public schools while 37% were doing worse. However, Credo noted that the study's results "vary strongly by state and are shown to be influenced in significant ways by several characteristics of state charter school policies." These include laws determining how many charters can operate in a state, who can authorize them, and the level of autonomy these schools will have from certain state regulations. Although largely ignored, this finding is especially relevant in light of a more recent Credo study focusing solely on the performance of Michigan's charter schools. The findings, released in January, portray Michigan's charter schools as a clear-cut success story and provide lessons for other states. Credo found that 42% of Michigan's charter schools are outperforming conventional public schools in math and 35% of charters are outperforming in reading. Only 6% of charters are underperforming in math and only 2% in reading. Further, 82% of charters produced growth in average reading test scores and 72% did so in math. Dow Jones Reprints: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit www.djreprints.com What Michigan's Charter Schools Can Teach the Country The secrets of reform success include liberal chartering rules and freedom from teacher tenure. Michigan Study findings: “After five years the average charter-school student made cumulative learning gains equivalent to an entire additional year of schooling." 5/18/13 8:18 AMMichael Van Beek: What Michigan's Charter Schools Can Teach the Country - WSJ.com Associated Press Detroit Midtown Academy teacher Rochell Dunson works with students in 2008. Of the 56 outcomes for different subgroups of students and schools the study dissected, 52 showed charter- school students outperforming their peers in conventional public schools. Perhaps the most notable finding was that from 2007- 11 the typical Michigan charter-school student made annual academic gains in both reading and math equivalent to about two additional months of learning, compared with his or her peers in conventional public schools. The longer a student stayed in a charter school the greater the annual gains. After five years the average charter-school student made cumulative learning gains equivalent to an entire additional year of schooling. As Cindy Schumacher, executive director of the Center for Charter Schools at Central Michigan University, told the press after the Credo report was released, the report "shows that the Michigan Model is working, with it leading to significant improvements for children, especially at-risk children who are historically underserved." The results were even more pronounced in Detroit, welcome news in a city where an estimated 47% of the adult population is functionally illiterate, according to the Detroit Regional Workforce Fund. The typical Detroit charter-school student made annual gains worth about three additional months of learning in both reading and math compared with their peers in nearby conventional schools. Of the 100 or so charters in Detroit, 47% did significantly better than conventional schools in reading and 49% did significantly better in math. Only one charter school in Detroit did worse in reading compared with the city's district-run schools. The Michigan Education Association, the state's largest teachers union, and other defenders of the public-school status quo have tried to play down these results. Some point out that the Credo study didn't include every charter school. In fact, the study included 86% of all charter-school students in the state and remains the most comprehensive and rigorous study of Michigan charter schools. Wall Street Journal – May 17, 2013
    12. www.edufundamerica.com American  Charter   Development,  LLC   Charter Schools in the USA   •  5,600 Charter Schools •  Need 4,000 more Charter Schools because… over 1.2 million children on wait lists, Center for Educational Reform, Washington DC.
    13. www.edufundamerica.com American  Charter   Development,  LLC   School  En'ty Licensed by State to operate a charter school   Project Structure Creates: NEW Limited Partnership – that: 1. Operates School – hires employees 2. Leases a new School Facility 3. Invests EB-5 Funds into: F,F & E, Operations, etc.
    14. www.edufundamerica.com American  Charter   Development,  LLC   New  Limited  Partnership       48.00%51.99% Ownership   School  En_ty   EB-­‐5  Investors   Educa_on  Fund   51.99%48.0%
    15. www.edufundamerica.com American  Charter   Development,  LLC   School Financing  –  Phase  I Senior  Bonds    50%  Funding     Charter  School   Development   CompanySubordinate  Bonds   25%  funding   Leases School Facility Limited  Partnership Subordinate  Bonds   25%  -­‐  Bridge  loan     Direct  Investment   Builds School Facility
    16. www.edufundamerica.com American  Charter   Development,  LLC   School Financing  –  Phase  II Senior Bonds 50% Funding Charter  School   Development   CompanySubordinate  Bonds   25%  funding Leases School Limited  Partnership EB-­‐5  Investors   25% Pays off bridge loan
    17. www.edufundamerica.com American  Charter   Development,  LLC   EB-­‐5  Direct  Investment Limited Partnership EB5   EB5   EB5   EB5   EB-5 Investors Funding Direct Investment Operations Working Capital Tenant Improvements Furniture & Equipment
    18. www.edufundamerica.com American  Charter   Development,  LLC   Repayment  Financing Limited Partnership Senior   Bonds Subordinate   Bonds School  En'ty Municipal Bond EB-5 Investors Financing Repayment EB5   EB5   EB5   EB5   After 39 – 42 months
    19. www.edufundamerica.com American  Charter   Development,  LLC   Over  30  years  experience  developing  commercial  proper_es   •         Started  Charter  School  business  in  2003   •       Developed  dozens  of  VERY  successful  Charter  Schools   •           Utah  State  Legislature,    Chairman  -­‐  Higher  Educa_on   •           Net  Worth  over  8  figures,    Excellent  Credit  Ra_ng     Mike Morley, Chairman American Charter Development, LLC Charter  School  Developer  
    20. www.edufundamerica.com American  Charter   Development,  LLC   Capital    Stack  –  sample  school  project     Tax  Free  Municipal  Bonds  –  from  large  Ins_tu_onal  Funds  
    21. www.edufundamerica.com American  Charter   Development,  LLC   EB-­‐5  Funds  pay  off  “bridge  loan”   Interest  payment  savings  with  EB-­‐5  funds,  36  months  
    22. www.edufundamerica.com American  Charter   Development,  LLC   New  Bond  issued  in  39  –  42  months  pays  off  previous   issued  bonds  and  EB-­‐5  investment.   Interest savings to school :
    23. www.edufundamerica.com American  Charter   Development,  LLC   In  our  example         Interest  payment  savings  during  the  30  bond  term         Why  do  schools  want  to  quickly  pay  off                                         EB-­‐5  and  bond  lenders?           To  save  money…      
    24. www.edufundamerica.com American  Charter   Development,  LLC   1 THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF PIMA $10,975,000 EDUCATION FACILITY REVENUE BONDS (AMERICAN LEADERSHIP ACADEMY PROJECT) SERIES 2012A INTRODUCTION The following is a brief introduction as to certain matters discussed elsewhere in this Official Statement and is qualified in its entirety as to such matters by such discussion and the text of the actual documents described or referenced. Any capitalized term not required to be capitalized is used with the meaning assigned in “EXHIBIT E – SUMMARIES OF FINANCING DOCUMENTS,” or in the Indenture of Trust, to be dated as of January 1, 2012 (the “Indenture”), between The Industrial Development Authority of the County of Pima (the “Issuer”), and U.S. Bank National Association, as trustee (the “Trustee”), the Loan Agreement, to be dated as of January 1, 2012 (the “Loan Agreement”), between the Issuer and American Leadership Academy, Inc. (the “Borrower”), an Arizona non-profit corporation, or other document with respect to which the term is used. Definitions contained in the text hereof are for ease of reference only and are qualified in their entirety by the definitions in “EXHIBIT E – SUMMARIES OF FINANCING DOCUMENTS,” or the documents with respect to which such terms relate. The Exhibits hereto are an integral part of this Official Statement and each potential investor should review the Exhibits in their entirety. General This Official Statement, including the cover page, the inside cover, the introductory statement and the Exhibits attached hereto (this “Official Statement”), is furnished in connection with this offering by the Issuer of its Education Facility Revenue Bonds (American Leadership Academy Project), Series 2012A, in the aggregate principal amount of $10,975,000 (the “Series 2012A Bonds). The Series 2012A Bonds were authorized by a resolution adopted by the Board of Directors of the Issuer on September 7, 2010, as amended by an amending resolution adopted by the Board of Directors of the Issuer on February 18, 2011, as further amended by that second amending resolution adopted by the Board of Directors of the Issuer on October 21, 2011, the Constitution and laws of the State of Arizona (the “State”), particularly The Industrial Development Financing Act, comprised of Title 35, Chapter 5 of the Arizona Revised Statutes (the “Act”) and will be issued under the Indenture. The proceeds of the Series 2012A Bonds will be loaned to the Borrower pursuant to the Loan Agreement. The Borrower will use the proceeds of the Series 2012A Bonds to: (i) finance and/or refinance the costs of acquiring, constructing, improving, operating and/or equipping of charter school facilities located at 34696 North Village Lane, San Tan Valley, Arizona (the “Series 2012 Facilities”); (ii) fund any required reserve funds as set forth in the Indenture; (iii) pay capitalized interest on the Series 2012A Bonds; and (iv) pay certain issuance expenses (collectively, the “Series 2012 Project”). The Borrower’s repayment obligation under the Loan Agreement will be evidenced by the Series 2012A Promissory Note executed by the Borrower (the “Series 2012A Promissory Note”). The Series 2012A Bonds and any Additional Senior Bonds issued on a parity therewith pursuant to the Indenture (collectively, the “Senior Bonds”), are special limited obligations of the Issuer payable exclusively from the Trust Estate pledged, assigned and mortgaged to the Trustee pursuant to the Indenture. The Trust Estate includes: (i) the rights, title and interests of the Issuer under the Loan Agreement (except for Issuer’s Unassigned Rights); (ii) the rights, title and interests of the Issuer in the Project (except the Issuer’s Unassigned Rights), subject to Permitted Encumbrances; (iii) the Revenues and all rights, title and interests of the Issuer in the Pledged Revenues, subject to Permitted Encumbrances (except the Issuer’s Unassigned Rights); (iv) the rights, title and interests of the Issuer and the Borrower under the Promissory Note(s) (except the Issuer’s Unassigned Rights) and the Deed of Trust, Security Agreement, Assignment of Rents and Leases and Fixture Filing, dated as of January 1, 2012, from the Borrower for the benefit of the Trustee as beneficiary thereunder (the “Deed of Trust”); (v) all Funds held by the Trustee pursuant to the Indenture (except amounts on deposit in the Cost of Issuance Fund, the Tax and Insurance Escrow Fund and the Rebate Fund), subject to the exceptions as provided in the Indenture; and (vi) any and all other interests in real or personal property of every name and nature from time to time hereafter by delivery or by writing of any kind specifically mortgaged, pledged or hypothecated. Funds  returned  via  Bond  financing…   Bond refinancing - January 2012 $10,875,000 Bond Amount Financed with Tax Free Bonds Bond Issuer – Gov. Bond Seller / Lender
    25. www.edufundamerica.com American  Charter   Development,  LLC   Over  $5  Billion  in  charter  school  bonds  issued   $0   $200   $400   $600   $800   $1,000   $1,200   1998   1999   2000   2001   2002   2003   2004   2005   2006   2007   2008   2009   2010   2011   2012   $11   $80   $208   $305   $225   $274   $327   $396   $571   $1,037   $556   $361   $951   $800   $340  
    26. www.edufundamerica.com American  Charter   Development,  LLC   Charter School - USCIS Approvals – I-526
    27. www.edufundamerica.com American  Charter   Development,  LLC   American Leadership Academy   Spanish Fork       INVESTOR REPAYMENT     16 months   Months to Repay Previous School Investor:
    28. www.edufundamerica.com American  Charter   Development,  LLC   Mountainville Academy       INVESTOR REPAYMENT     37 months   Months to Repay Previous School Investor:
    29. www.edufundamerica.com American  Charter   Development,  LLC   Washington Academy       INVESTOR REPAYMENT     26 months   Washington Academy       Months to Repay Previous School Investor:
    30. www.edufundamerica.com American  Charter   Development,  LLC   Washington Academy       Thomas Edison Academy       INVESTOR REPAYMENT     36 months   Months to Repay Previous School Investor:
    31. www.edufundamerica.com American  Charter   Development,  LLC   Washington Academy       INVESTOR REPAYMENT     22 months   Regan Academy       Months to Repay Previous School Investor:
    32. www.edufundamerica.com American  Charter   Development,  LLC   Washington Academy       INVESTOR REPAYMENT     35 months   Summit Academy       Months to Repay Previous School Investor:
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    35. www.edufundamerica.com American  Charter   Development,  LLC   Fast  &  Proven  Return  of  Investor  Funds  
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    38. www.edufundamerica.com American  Charter   Development,  LLC   Financing Schools that Inspire Children

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