Liberty Classical Schools Foundation

During the year ended june 30, 2024 the development authority of cobb county issued revenue series 2023 bonds and loaned the proceeds to Liberty Classical Schools Foundation kennesaw, llc in the aggregate principal amount of $28,375,000. The revenue series 2023 bonds were issued to facilitate the acquisition of a charter school building and property to rent to eligible charter Schools. The organization's leasing activities consist of leasing a building under a direct financing lease expiring in june 2058. This building is leased to a charter school to use as their primary school location. The lease does not provide an option for the lessee to purchase the asset or to extend the terms.