Transaction Details

American Leadership Academy

Municipal

Lead Bookrunner

Supporting Growth Through Strategic Financing

Founded in 2005, American Leadership Academy (“ALA”) is a well-established charter school located in Spanish Fork, Utah, approximately 50 miles south of Salt Lake City. Rooted in its mission, ALA partners with families to provide comprehensive educational experiences, character development through leadership, and individualized student learning for college and career readiness. ALA is where learners develop into leaders—leaders in academics, sports, the arts, and their community. The name “American Leadership Academy” represents a commitment to developing future leaders from Kindergarten through 12th grade. Students can pursue academic honors diplomas in areas such as Fine Arts, General Academics, Leadership, and Athletics. ALA’s graduation requirements exceed Utah’s state standards, and students have access to Advanced Placement classes and dual-credit courses, along with college prep classes to support ACT readiness. Through a holistic approach that includes the arts, physical health, and community service, ALA inspires excellence in all aspects of life.

To support facility expansion and long-term planning, ALA completed a $24,395,000 bond financing in July 2025. Baird’s National Charter School Finance team served as sole managing underwriter for the transaction. A portion of the proceeds from the Series 2025 Bonds will support the construction of an expansion to ALA’s existing campus facilities including a state-of-the-art athletic facility featuring two regulation-size basketball courts with seating capacity for approximately 1,300 spectators. The facility will also house a weight room, locker rooms, coaches’ offices, batting cages, and indoor training space suitable for football, soccer, baseball, and softball. Additional components will include designated sports training areas, a medical training room, an E-sports room, concessions, and storage space.

In addition to athletic enhancements, the project will introduce a new early education and school administrative space, totaling approximately 17,000 to 20,000 square feet. This facility will accommodate pre-kindergarten and kindergarten programming with nine classrooms, a flexible lunch and student gathering space, outdoor playgrounds and recreational areas, an IT room, and additional storage. The administrative space will include ten offices, a conference and board room, and a welcoming reception area to better serve school operations and families.

To ensure a cohesive and secure learning environment, the bond proceeds will also fund modernization and security improvements to ALA’s original Series 2015 Facilities. These improvements will include updated interior paint and flooring, exterior enhancements, roofing upgrades, and the installation of a secure main entrance and controlled access points in compliance with revised state safety regulations. The entire expansion project is expected to reach substantial completion by July 2026.

The financing carried an AA rating through the Utah Charter School Finance Authority Credit Enhancement Program, with an underlying BBB rating and negative outlook. Structured with a 30-year maturity, the transaction’s enhanced credit quality offered relatively lower yields with an all-inclusive interest rate of 5.09%.