I am writing to respond to several items that have been published about the DCA financing issue. While I certainly lack the writing skills of some of these individuals, I want to provide some factual responses to the issues that have been raised.
Danville Christian Academy, which has been in operation since 1996, is a fully-accredited educational institution through SACS, the same institution that accredits Centre College. It is also a 501(c)3 non-profit organization. DCA desires to build a school on property within the Danville city limits to provide better facilities for about 200 students that are presently enrolled. We currently draw students from Boyle, Garrard, Mercer, Casey, Lincoln and Washington counties, with approximately 30 percent of our students coming from outside of Boyle County.
As a non-profit organization, DCA is allowed by federal and state laws to borrow funds at a reduced interest rate from financial institutions and private investors if the borrowing is conducted through a city or county government as a conduit issuer. Any city or county government that serves as a conduit issuer is in no way responsible for the debt of that non-profit organization. The governmental entity is not lending any money, giving any money, or providing any other type of financial backing other than to be a conduit for the issue. Again, they assume no responsibility for the debt.