<div id="readability-page-1"><div> By Patrick Sheridan <pre></pre> The Industrial Development Authority of the City of Phoenix, Arizona plans to sell $89.6 million in bonds to finance or refinance a portion of the costs of developing a campus facility for The Valley College of Osteopathic Medicine. The Series 2026 Taxable Educational Facilities Revenue Bonds have a due date in 2055, and are slated to be priced as early as the week of Jan. 26, with settlement scheduled as early as the week of March 2 according to the roadshow document accompanying the preliminary limited offering memorandum posted Wednesday on MuniOS. Interest on the bonds is payable on June 1, 2026, and on each December and June thereafter. The bonds are secured by a loan agreement in which The Valley College of Osteopathic Medicine. Bond proceeds will be used to develop a campus facility in Phoenix, for the operation of college of osteopathic medicine. Funds will also be used to pay off debt used to acquire the building, originally constructed in 2010 for Blue Cross Blue Shield of Arizona, that will house the future school. The facility will be equipped to accept the initial class of students by the summer of 2026, according to the preliminary limited offering memorandum. According to its website, in 2030, when the proposed school is fully operational, it will have an positive economic impact in the area of $58.5 million, support more than 148 jobs, and generate $1.8 million in taxes for communities in the region. The College has applied to Moody's Ratings for a bond rating. Morgan Stanley is the underwriter of the offering. Write to Patrick Sheridan at patrick.sheridan@wsj.com (END) Dow Jones Newswires January 15, 2026 15:48 ET (20:48 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

摩根士丹利

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