South Louisiana Facilities Corp

The exempt purpose of the corporation is to construct a building with academic facilities and offices for the south louisiana community college (slcc), a state community college operated by the louisiana community and technical college system (lctcs), a state institution. The corporation leases real property located in lafayette, louisiana from the lctcs and constructed a building on the campus of slcc. The construction was financed through a bond issue by the lafayette public trust financing authority (lptfa). The facilities are leased to lctcs under a net lease with an option to purchase the facilities. The lease payments from the lease are used to repay the bond financing.