COLLEGE'S BONDS TO AID REFINANCING.Byline: Amy Raisin Staff Writer SANTA CLARITA Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, - The Master's College History The Master's College was founded as Los Angeles Baptist Theological Seminary on May 25, 1927 to meet the need for a fundamental Baptist school on the West Coast. will issue $16 million in tax-exempt bonds to refinance its debt, build a new dormitory and improve facilities. The California Statewide Communities Development Authority will serve as the conduit issuer, which allows The Master's College to receive tax-exempt status. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the college, $10.5 million will be used to refinance bank loans and $3.5 million will fund renovations to existing buildings - including residence halls, classrooms, labs, administrative and faculty offices, parking lots and the library. An additional $1.5 million is earmarked for sewer line upgrades and other infrastructure improvements. ``This money will bring tremendous value to the Santa Clarita Valley The Santa Clarita Valley is the valley of the Santa Clara River in Southern California. It stretches through Los Angeles County and Ventura County. Its main population center is the city of Santa Clarita. The valley was part of the 48,612-acre (19,672. ,'' said Dick Mayhue, vice president of The Master's College. He spoke during the public hearing portion of Tuesday's City Council meeting. The city of Santa Clarita held a public hearing Tuesday night on the bond proposal and approved it. Santa Clarita bears no financial responsibility for the bonds, but state law requires a public hearing and approval for such projects from their local government. The city has held similar public hearings and tax-exempt bond approvals in the past, including one for the YMCA YMCA in full Young Men's Christian Association Nonsectarian, nonpolitical Christian lay movement that aims to develop high standards of Christian character among its members. in 1993, the Bouquet Canyon Seniors Housing project in 1997 and two in 2000, for the Child and Family Center and Henry Mayo Newhall Memorial Hospital. |
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