EDGEFIELD COUNTY PUBLIC FACILITIES CORP

What they do

EDGEFIELD COUNTY PUBLIC FACILITIES CORPORATION (THE CORPORATION) is INTENDED BE AN ON BEHALF of ISSUER of EDGEFIELD COUNTY, SOUTH CAROLINA (THE COUNTY) WITHIN THE MEANING of REV. RUL. 63-20, 1963-1 C.B. 24. THE CORPORATIONS PRIMARY ACTIVITY is THE FINANCING of THE ACQUISITION, CONSTRUCTION, RENOVATION and EQUIPPING of CERTAIN PUBLIC FACILITIES (THE PROJECTS). 100 PERCENT of THE CORPORATIONS ACTIVITIES ARE ALLOCATED to SUCH ACTIVITY. THE CORPORATION HAS LEASED REAL PROPERTY FROM THE COUNTY PURSUANT to A BASE LEASE and CONVEYANCE AGREEMENT (THE BASE LEASE) and ISSUED THE $24,690,000 EDGEFIELD COUNTY PUBLIC FACILITIES CORPORATION INSTALLMENT PURCHASE REVENUE BONDS (EDGEFIELD COUNTY PROJECT) SERIES 2022 (THE BONDS) to FINANCE THE COSTS of CERTAIN PROJECTS (THE 2022 PROJECTS) and to PROVIDE ADDITIONAL FUNDING to THE COUNTY. THE 2022 PROJECTS WILL BE SOLD to THE COUNTY UNDER THE TERMS of AN INSTALLMENT PURCHASE and USE AGREEMENT EXECUTED CONTEMPORANEOUSLY WITH THE BASE LEASE.