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ObjectId: 201821349349302387 - Submission: 2018-05-14
TIN: 52-0591672
Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax-Exempt Bonds
Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
Attach to Form 990.
Information about Schedule K (Form 990) and its instructions is at
www.irs.gov/form990
.
OMB No. 1545-0047
20
16
Open to Public
Inspection
Name of the organization
MOUNT SAINT MARYS UNIVERSITY
Employer identification number
52-0591672
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
County Commissioners of Frederick County
52-6000943
355697BL6
01-12-2006
22,065,000
Refunding of Series 2001B and Construction of new residence hall
X
X
X
B
County Commissioners of Frederick County
52-6000943
355697CB7
03-27-2007
22,333,074
Refunding of Series 2001A bonds and campus projects
X
X
X
C
Town of Emmitsburg
52-6017142
12-21-2007
10,000,000
Renovations to residence hall and Fine Arts Center
X
X
X
D
Town of Emmitsburg
52-6017142
12-23-2008
10,000,000
Renovations to residence hall and Fine Arts Center
X
X
X
Part II
Proceeds
A
B
C
D
1
Amount of bonds retired
..................
1,950,000
5,545,000
1,231,399
1,429,322
2
Amount of bonds legally defeased
..............
3
Total proceeds of issue
..................
22,328,868
22,218,074
10,000,000
10,000,000
4
Gross proceeds in reserve funds
.............
2,174,047
873,685
5
Capitalized interest from proceeds
.............
6
Proceeds in refunding escrows
...............
6,200,000
16,855,000
7
Issuance costs from proceeds
...............
454,726
335,006
79,416
46,829
8
Credit enhancement from proceeds
.............
9
Working capital expenditures from proceeds
.............
10
Capital expenditures from proceeds
.............
12,610,819
4,323,238
9,920,584
9,953,171
11
Other spent proceeds
.............
12
Other unspent proceeds
.............
13
Year of substantial completion
.............
2008
2009
2010
2010
Yes
No
Yes
No
Yes
No
Yes
No
14
Were the bonds issued as part of a current refunding issue?
....
X
X
X
X
15
Were the bonds issued as part of an advance refunding issue?
.....
X
X
X
X
16
Has the final allocation of proceeds been made?
..........
X
X
X
X
17
Does the organization maintain adequate books and records to support the final allocation of proceeds?
..................
X
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
X
2
Are there any lease arrangements that may result in private business use of bond-financed property?
...............
X
X
X
X
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2016
Page 2
Schedule K (Form 990) 2016
Page
2
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
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?
c
Are there any research agreements that may result in private business use of bond-financed property?
.............
X
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?
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
....
0 %
0 %
0 %
0 %
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
.........
0 %
0 %
0 %
0 %
6
Total of lines 4 and 5
.............
0 %
0 %
0 %
0 %
7
Does the bond issue meet the private security or payment test?
...
X
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
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
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
X
2
If "No" to line 1, did the following apply?
....
a
Rebate not due yet?
.......
X
X
X
X
b
Exception to rebate?
........
X
X
X
X
c
No rebate due?
.........
X
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
X
4a
Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?
X
X
X
X
b
Name of provider
..........
PNC BANK
PNC BANK
c
Term of hedge
.........
1500.0000000000 %
2100.0000000000 %
d
Was the hedge superintegrated?
......
X
X
e
Was the hedge terminated?
........
X
X
Schedule K (Form 990) 2016
Page 3
Schedule K (Form 990) 2016
Page
3
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
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
X
7
Has the organization established written procedures to monitor the requirements of section 148?
...
X
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
X
Part VI
Supplemental Information.
Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference
Explanation
Schedule K (Form 990) 2016
Additional Data
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