Georgia Higher Education Facilities Authority

The Georgia Higher Education Facilities Authority (GHEFA) was established on July 1, 2006, and is governed by a five-member Board. Its primary mission is to finance the acquisition, construction, and equipping of facilities for the public colleges, universities, and technical colleges within the State of Georgia. For administrative purposes, GHEFA is assigned to the Georgia State Financing and Investment Commission (GSFIC). Since its inception, staff from GSFIC’s Financing and Investment Division have supported GHEFA in executing various administrative functions.

Between 2008 and 2010, GHEFA has issued three series of revenue bonds, financing a total of 19 projects across 15 institutions within the University System of Georgia (USG) under the Board of Regents (BOR):

• $99,855,000 in November 2008 (2008 Bonds)
• $100,850,000 in July 2009 (2009A Bonds)
• $94,210,000 in August 2010 (2010A Bonds)

To generate debt service savings, GHEFA has also issued the following refunding bonds:

• $85,570,000 in June 2015 (2015 Refunding Bonds) to refund all outstanding 2008 Bonds
• $58,395,000 in March 2019 (2019 Refunding Bonds) to refund all outstanding 2009A Bonds
• $47,640,000 in March 2020 (2020 Refunding Bonds) to refund all outstanding 2010A Bonds

In January 2026, GHEFA issued two series of revenue bonds—Series 2026A and Series 2026B—in principal amounts of $190,500,000 and $39,530,000, respectively, for the purpose of financing various projects of the USG Real Estate Foundation XIV, LLC at nine USG institutions.