SCAGO Efc Beaufort County School District

Series 2006 tax-exempt bonds were issued pursuant to a facilities agreement between the School District and the educational facilities corporation and evidence certain proportionate interests of the owners in certain rental payments be made by the School District under the terms of a base lease agreement between the School District and the Efc. The series 2006 bonds were then refunded by series 2016 bonds.the School District will purchase the facilities from the Efc pursuant to the facilities agreement, which will obligate the School District to make installment payments of purchase price (lease rental payments) to the Efc in amounts calculated to be sufficient to enable the Efc to pay the principal and interest on the outstanding series 2016 bonds.