Cesar Chavez Academy (the “Academy”) received a charter from Saginaw Valley State University and began its operation in the fall of 1996 offering grades K-5 to 254 students. In the Academy’s second year of operation, it enrolled 515 students in grades K-8. The Academy has continued to experience significant growth in its student population and has added additional grades served. The Academy enrolled 882 students in grades K-10 for 2002-03 and continued to expand both student enrollment and grades offered in subsequent years. The Academy enrolled 1,008 students in grades K-11 for 2003-04 and 1,185 students in grades K-12 for 2004-05. The Academy currently offer grades K-12 and as of fall, 2011 had an enrollment of 2,189 students and is currently the second largest charter school in Michigan. The Academy maintains a waiting list of 174 students for the 2012-13 school year as of May, 2012.
In its mission, the Academy in cooperation with the parents and the community will provide for the unique needs of its students through innovative experiences in a fully inclusive, safe, and nurturing environment. The Academy’s vision is to become the premier college preparatory school in the State of Michigan.
The proceeds from the Series 2012 Bonds were used to (i) advance refund the Full Term Certificates of Participation, Series 2003 and 2005 Certificates (ii) finance a portion of a debt service reserve fund for the Series 2012 Bonds and (iii) pay costs of issuance related to the Series 2012 Bonds (together, the “Project”). The Refunded Certificates financed the acquisition, construction and improvement of the Academy’s Middle School and High School facilities.