New Financing—Harambee Institute of Science and Technology Charter School

This new issue was sold in early April 2017. There are a limited number of bonds available in the secondary market. Thank you.

New Financing—Harambee Institute of Science and Technology Charter School
Real Income.  Exclusive Opportunity.



Philadelphia Authority for Industrial Development
Charter School Revenue Bonds
Harambee Institute of Science and Technology Charter
School Project
Series 2017A and Series 2017B (collectively the “Bonds”)

About Harambee Institute of Science and Technology Charter School
HJ Sims is pleased to underwrite an upcoming new issue for Harambee Institute of Science and Technology Charter School (“Harambee” or the “School”).  Harambee was one of the first four charter schools in the City of Philadelphia.  Harambee opened its doors in the fall of 1997. The School is in its twentieth year of operation and serves grades K-8. The School has enrollment of over 525 students. When it opened in 1997, state law did not permit a charter school to borrow to construct a school building.  Now, since the law has changed, with the proceeds of this bond issue, Harambee will purchase, and renovate, the facilities it now leases.  The school is located at 630—648 North 66th Street, Philadelphia, Pennsylvania.

About the Bonds
Philadelphia Authority for Industrial Development will issue approximately $6,575,000* par value of Bonds:
-$5,855,000 Series 2017A- Tax-exempt bonds with anticipated maturities available in 5 years (3/1/22), 20 years (3/1/37) and 35 years (3/1/52)*
-$720,000 Series 2017B-Taxable municipal bonds with an anticipated maturity of 15 years (3/1/32)*
-The yields and prices of the new issue bonds are expected to be set during the week of March 13th, with final pricing expected on or about March 20th.
-The Bonds have minimum denominations of $25,000, with any integral multiples of $5,000
-The Bonds have restrictions on who may purchase the Bonds.  Sales of the Bonds are restricted to Qualified Institutional Buyers and -Accredited Investors, but an Investor Letter is not required.
-The Bonds will be secured by a first mortgage on the property as well as a gross revenue pledge, an intercept of state school aid and various reserve funds.

The Bonds are not rated, and an investment in the Bonds involves a significant degree of risk.  A bondholder is advised to read the entire Preliminary Limited Offering Memorandum, including the appendices thereto.  Special reference is made to the sections “Sources of payment and Security for the Bonds” and “Risk Factors” therein.

If you have interest in purchasing bonds in the secondary issue, please contact your HJ Sims financial advisor or call 888.588.7603.

No dealer, broker, salesperson, or other person has been authorized to give any information or to make any representation other than those contained in the Preliminary Limited Offering Memorandum, and, if given or made, such other information or representation should not be relied upon as having been authorized by the Issuer, the Borrower, or the Underwriters. The information set forth herein has been obtained from the Issuer, Borrower, and other sources that are believed to be reliable, but is not guaranteed as to accuracy or completeness by, and is not construed as a representation of, the Underwriters. The information contained herein is subject to change without notice. Under no circumstances shall this constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering or solicitation will be made only to investors pursuant to the Preliminary Limited Offering Memorandum, which should be read in its entirety. Investments involve risk including the possible loss of principal. HJ Sims is a member of FINRA and SIPC and is not affiliated with Harambee Institute of Science and Technology Charter School.*Subject to change
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