Italy Independent School District Launches Energy Conservation Project
Italy, Texas (Summer 2017) – Italy Independent School District announced the implementation of energy conservation measures for its campuses including state-of-the-art LED lighting. Government Capital Corporation was chosen as the financing partner for the $305,000 project.
The primary source of repayment for the Public Property Finance Act Contract used will be the energy savings from the new lighting. The projected savings will provide the school district additional positive cash flow for the duration of the contract and for many years beyond.
“Everyone I interacted with at Government Capital was courteous, knowledgeable, and responded to any questions I had promptly. Their customer care is excellent and they follow up regularly. I would recommend their services to any district with financing needs!” stated Natasha Blackburn, Director of Finance of Italy ISD.
“This energy conservation project will help Italy ISD save a great deal of money and we were able to use Qualified Zone Academy Bond (QZAB) tax-credit financing to save the district thousands more on interest costs. We are proud to partner with Italy ISD on a project that will positively impact all students and staff members in the district,” said Kevin Lerner, Senior Vice President of Government Capital.
About Italy Independent School District
Italy Independent School District is located in Italy, Texas, in south Ellis County. The district serves approximately 597 students at 2 campuses and as of May 2017, is implementing a plan to become a District of Innovation. For more information: www.ItalyISD.org
About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to school districts and all other local governmental entities. Since its founding in 1992, the company has successfully completed thousands of project financings in Texas and across the country. For more information: www.govcap.com, 800-883-1199.