Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2015
Open to Public
Inspection
Name of the organization
PRESIDENT-BOARD OF TRUSTEES
SANTA CLARA COLLEGE
Employer identification number
94-1156617
Part I
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer		 (i) Pool
financing
Yes No Yes No Yes No
A CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY
  		52-1705592 130178RMO 12-11-2008 71,636,711 Construction and renovation of facilities, pay off taxable loan X     X   X
B CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY
  		52-1705592 130178WV4 09-15-2010 54,289,973 Improvement & Expansion of facilities, refund 2002A Bonds   X   X   X
C CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY
  		52-1705592 130179BS2 08-28-2015 117,173,098 Construction and improvement of facilities & advance refunding of prior bond   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired .................. 13,635,000 5,795,000    
2 Amount of bonds legally defeased .............. 51,145,000      
3 Total proceeds of issue .................. 71,685,297 54,316,853 118,130,210  
4 Gross proceeds in reserve funds .............        
5 Capitalized interest from proceeds .............        
6 Proceeds in refunding escrows ...............     54,671,936  
7 Issuance costs from proceeds ............... 846,711 587,481 681,874  
8 Credit enhancement from proceeds .............        
9 Working capital expenditures from proceeds .............        
10 Capital expenditures from proceeds ............. 17,048,587 35,026,881 12,190,601  
11 Other spent proceeds ............. 53,790,000 18,702,492 2,738,787  
12 Other unspent proceeds .............     47,847,011  
13 Year of substantial completion ............. 2011 2010
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? .... X     X   X    
15 Were the bonds issued as part of an advance refunding issue? .....   X X   X      
16 Has the final allocation of proceeds been made? .......... X   X     X    
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X   X      
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............   X   X   X    
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............   X   X   X    
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2015
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Schedule K (Form 990) 2015
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Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? ............. X     X X      
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X       X      
c Are there any research agreements that may result in private business use of bond-financed property? ............. X     X X      
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X       X      
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ....SchKMediumBullet 0.200 % 0 % 0.100 %  
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government ......... SchKMediumBullet 0 % 0 % 0 %  
6 Total of lines 4 and 5 ............. 0.200 % 0 % 0.100 %  
7 Does the bond issue meet the private security or payment test? ...   X   X   X    
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............   X   X   X    
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............                
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? ........ 		X   X   X      
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X   X    
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......   X   X X      
b Exception to rebate? ........ X     X   X    
c No rebate due? ......... X   X     X    
If "Yes" to line 2c, provide in Part VI the date the rebate
computation was performed ......
3 Is the bond issue a variable rate issue? .....   X   X   X    
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X    
b Name of provider ..........  
  		 
  		 
  		 
 
c Term of hedge .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
Schedule K (Form 990) 2015
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Schedule K (Form 990) 2015
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Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X   X    
b Name of provider ..........  
  		 
  		 
  		 
 
c Term of GIC .........        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........                
6 Were any gross proceeds invested beyond an available temporary period?   X   X   X    
7 Has the organization established written procedures to monitor the requirements of section 148? ... X   X   X      
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X      
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
Date Rebate Computation Performed Issuer Name: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY Date the Rebate Computation was Performed: 12/11/2013 Issuer Name: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY Date the Rebate Computation was Performed: 09/14/2015
PART I(E) AND PART II DIFFERENCE BETWEEN PART I(E) AND PART II QUESTION 3 IS DUE TO INVESTMENT EARNINGS ON BOND PROCEEDS.
Part I(F), Column C The proceeds of this bond issue were used to refund a portion of the Borrower's Series 2008 (issued 12/11/2008).
Part I(F), Column A The Bonds refunded a taxable loan dated April 30, 2008 that itself refunded the Issuer's Series 2002B (issued 01/31/2002) and the Series 2006 Bonds (issued 06/08/2006).
Part I(F), Column B The 2002A Bonds were issued on January 31, 2002.
Part III, Line 7 As provided in Treasury Regulation Section 1.141-4(c)(2)(i)(B), the amount of private payments taken into account under the private payment test may not exceed the amount of private business use and/or unrelated trade or business use. Accordingly, the amount of private payments for the reporting period does not exceed the amount stated in Part III, Line 6. The organization has not undertaken an analysis of the private security test with respect to the bonds, as the level of private business use and/or unrelated trade or business reported in Part III, Line 6, is not in excess of amounts permitted under Section 145 of the Code.
Schedule K (Form 990) 2015

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