Greater Latrobe School Authority » Greater Latrobe School Authority

Greater Latrobe School Authority

The School Authority assists the Greater Latrobe School District in obtaining lower cost tax-exempt financings for the construction, improvement and equipping of educational facilities. As issuer of the bonds, the Authority serves as a financing conduit bringing the ultimate borrower and lender together.

 

It is a public corporation and a government instrumentality of the Commonwealth of Pennsylvania, created by the Pennsylvania Legislature in 1947 for the purpose of financing the construction and improvement of public school facilities. The Authority finances projects through the issuance of bonds, which are repaid from lease/loan payments made by the borrower. The Authority has no general liability for these obligations and has no beneficial interest in the related assets held by trustees.

 

The Greater Latrobe School Authority, incorporated on July 17, 1962, is a body corporate and politic created pursuant to the provisions of the Municipality Authorities Act and pursuant to resolutions adopted by the Board of the School District.  The Authority, having its principal office in the City of Latrobe and the County of Westmoreland in the Commonwealth of Pennsylvania, is authorized by law to exercise any and all powers conferred by the Municipality Authorities Act necessary to acquire, hold, construct, improve, maintain, own, operate and lease either in the capacity of lessor or lessee public school buildings and other school projects acquired, equipped, constructed or improved for public school purposes, the furnishing and equipping of the same, and the acquiring of the necessary sites therefore.

Greater Latrobe School Authority Members
 
Dr. Gene Leonard, Chairman
Mr. Keith Visconti, Vice Chairman
Mr. Carl Baumeister, Treasurer
Mr. Charles Gray, Secretary
Mr. Barry Banker, Assistant Secretary/Treasurer