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.