Miami-Dade commissioners have approved a plan for an Arizona government entity to issue bonds to support a local charter school. The bonds will provide $40 million to the True North Classical Academy for its campus at Gateway. This funding will be repaid by the academy, with no obligation to the county or state.

The Arizona Industrial Development Authority facilitates such financing, allowing private borrowers to reduce costs through tax-exempt bonds. Further details on this arrangement are available from the Arizona Industrial Development Authority, which issues private activity bonds for private users nationwide.