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
2016
Open to Public
Inspection
Name of the organization
UNIVERSITY OF DAYTON
 
Employer identification number
31-0536715
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 OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756AXP2 08-04-2006 92,808,635 CAPITAL IMPROVEMENTS AND REFUNDING OF A PRIOR ISSUE. X     X   X
B OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756AYD8 08-04-2006 22,824,354 REFUNDING OF A PRIOR ISSUE.   X   X   X
C OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756AYG1 08-04-2006 12,154,493 REFUNDING OF A PRIOR ISSUE   X   X   X
D OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756BXU9 03-20-2009 55,124,578 CAPITAL IMPROVEMENTS AND REFUNDING OF A PRIOR ISSUE   X   X   X
OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756BXU9 03-20-2009 19,120,467 REFUNDING OF A PRIOR ISSUE   X   X   X
OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756BYZ7 03-16-2011 42,580,636 CAPITAL IMPROVEMENTS TO THE FACILITIES OF THE BORROWER   X   X   X
OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756BYY0 03-16-2011 19,085,647 REFUNDING OF A PRIOR ISSUE   X   X   X
OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756A8B1 02-12-2013 65,898,556 CAPITAL IMPROVEMENTS AND REFUNDING OF A PRIOR ISSUE   X   X   X
OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674 67756DEL6 04-01-2015 54,453,983 CAPITAL IMPROVEMENTS   X   X   X
OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674   03-30-2016 28,000,000 REFUNDING OF A PRIOR ISSUE   X   X   X
OHIO HIGHER EDUCATIONAL FACILITY COMMISSION
  		34-6849674   09-07-2016 20,870,000 REFUNDING OF A PRIOR ISSUE   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired .................. 43,870,000 22,175,000 3,605,000 4,985,000
2 Amount of bonds legally defeased .............. 0 0 0 0
3 Total proceeds of issue .................. 99,359,922 23,533,957 12,951,780 55,150,715
4 Gross proceeds in reserve funds ............. 0 0 0 0
5 Capitalized interest from proceeds ............. 0 0 0 369,766
6 Proceeds in refunding escrows ............... 0 0 0 0
7 Issuance costs from proceeds ............... 802,168 183,956 99,928 701,492
8 Credit enhancement from proceeds ............. 707,589 0 110,152 0
9 Working capital expenditures from proceeds ............. 0 0 0 0
10 Capital expenditures from proceeds ............. 30,584,786 0 0 31,079,457
11 Other spent proceeds ............. 67,265,379 23,350,001 12,741,700 23,000,000
12 Other unspent proceeds ............. 0 0 0 0
13 Year of substantial completion ............. 2010 2006 2007 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

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? X   X   X   X  
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? X   X   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 1.8 % 0.1 % 0.3 % 1.4 %
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 0.2 % 0.4 % 0.1 % 0.1 %
6 Total of lines 4 and 5 ............. 2.0 % 0 % 0 % 1.5 %
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 .......... MORGAN STANLEY
  		MORGAN STANLEY
  		MORGAN STANLEY
  		 
 
c Term of hedge ......... 1860 % 910 % 1170 %  
d Was the hedge superintegrated? ......   X   X   X    
e Was the hedge terminated? ........   X   X   X    
Schedule K (Form 990) 2016

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, Part I, Column (f) 2011 REVENUE BONDS - CONSTRUCTION THE 2011 BOND PROCEEDS WERE USED TO CONSTRUCT AND FURNISH A NEW APARTMENT STYLE STUDENT RESIDENCE COMPLEX; TO RENOVATE THE COLLEGE PARK CENTER TO PROVIDE SPACE FOR THE VISUAL ARTS DEPARTMENT, INCLUDING CLASSROOM AND STUDENT WORKSPACE; UPGRADE DINING AND FOOD SERVICE FACILITIES IN A CAMPUS RESIDENCE HALL; AND AQUIRE AND UPGRADE TECHNOLOGY EQUIPMENT FOR THE 1700 SOUTH PATTERSON BUILDING.
Schedule K, Part I, Column (f) 2013 REVENUE BONDS - CONSTRUCTION THE 2013 BOND PROCEEDS WERE USED TO CONSTRUCT, FURNISH AND EQUIP IMPROVEMENTS TO THE SCIENCE CENTER COMPLEX AND OTHER ACADEMIC BUILDINGS INCLUDING CLASSROOMS, COMMON AREAS AND ADMINISTRATIVE OFFICES; RENOVATE AND FURNISH STUDENT RESIDENCE HALLS, APARTMENTS AND HOUSES; AND FOR LIBRARY RENOVATIONS. THE 2013 BOND PROCEEDS WERE ALSO USED TO REFUND THE BALANCE ON THE 2004 BOND ISSUE DATED DECEMBER 2, 2004, WHICH WERE USED ORIGINALLY FOR CONSTRUCTION TOTALLING $35,659,187
Schedule K, Part I, Column (f) 2006 REVENUE BONDS - REFUNDING THE 2006 BOND PROCEEDS WERE USED TO REFUND PORTIONS OF THE BOND ISSUE DATED JULY 2, 1997 AND JULY 20, 2000, WHICH WAS USED TO CONSTRUCT IMPROVE AND EQUIP THE SCIENCE EDUCATION BUILDING; CONSTRUCT A NEW STUDENT APARTMENT BUILDING; AND RENOVATE ADMINISTRATIVE AND ACADEMIC BUILDINGS; TO REFUND THE BOND ISSUE DATED OCTOBER 29, 2003, WHICH WAS USED TO PAY COSTS ASSOCIATED WITH THE ISSUANCE OF THE 2006 BOND ISSUE.
Schedule K, Part I, Column (f) 2006 REVENUE BONDS - CONSTRUCTION THE 2006 BOND PROCEEDS WERE USED TO RENOVATE STUDENT RESIDENCE HALLS, APARTMENTS AND HOUSES; TO RENOVATE LABORATORY, RESEARCH AND CLASSROOM AREAS; AND TO RENOVATE THE UNIVERSITY RESEARCH INSTITUTE AND OTHER LABORATORY FACILITIES.
Schedule K, Part I, Column (f) 2009 REVENUE BONDS - CONSTRUCTION 2009 REVENUE BONDS - CONSTRUCTION; THE BOND PROCEEDS WERE USED TO RENOVATE STUDENT RESIDENCE FACILITIES AND TO RENOVATE CLASSROOM AND LABRATORY FACILITIES.
Schedule K, Part I, Column (f) 2009 REVENUE BONDS - REFUNDING THE 2009 BOND PROCEEDS WERE USED TO REFUND A PORTION OF THE BOND ISSUE DATED JULY 2, 1997; TO REFUND A PORTION OF THE BOND ISSUE DATED JULY 9, 1998, WHICH WAS USED TO CONSTRUCT, IMPROVE AND EQUIP VARIOUS ACADEMIC AND ADMINISTRATIVE FACILITIES; TO REFUND A PORTION OF THE BANK NOTE ISSUED ON APRIL 16, 2008 WHICH WAS USED TO REFUND THE STATE OF OHIO HIGHER EDUCATIONAL FACILITY COMMISSION REVENUE BONDS DATED MAY 1, 2002, WHICH WERE ISSUED TO RENOVATE THE ARENA ATHLETIC FACILITIES, CONSTRUCT SCIENCE LABRATORY FACILITIES AND AQUIRE AND RENOVATE STUDENT HOUSES.
Schedule K, Part I, Column (f) 2006 REVENUE BONDS - REFUNDING THE 2006 BOND PROCEEDS WERE USED TO REFUND PORTIONS OF THE BOND ISSUE DATED JULY 2, 1997 AND JULY 20, 2000, WHICH WAS USED TO CONSTRUCT, IMPROVE AND EQUIP THE SCIENCE EDUCATION BUILDING; CONSTRUCT A NEW STUDENT APARTMENT BUILDING; AND RENOVATE ADMINISTRATIVE AND ACADEMIC BUILDINGS; TO REFUND THE BOND ISSUE DATED OCTOBER 29, 2003, WHICH WAS USED TO PAY COSTS ASSOCIATED WITH THE ISSUANCE OF THE 2006 BOND ISSUE.
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 03/16/2011 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $19,085,647 TOTAL INVESTMENT EARNINGS: $4,783
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 02/12/2013 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $65,898,556 TOTAL INVESTMENT EARNINGS: $195,476
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 08/04/2006 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $12,154,493 TOTAL INVESTMENT EARNINGS: $797,287
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 08/04/2006 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $92,808,635 TOTAL INVESTMENT EARNINGS: $6,551,287
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 08/04/2006 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $22,824,354 TOTAL INVESTMENT EARNINGS: $709,603
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 03/20/2009 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $55,124,578 TOTAL INVESTMENT EARNINGS: $26,137
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 03/20/2009 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $19,120,467 TOTAL INVESTMENT EARNINGS: $284,929
Schedule K, Part I, Column (f) 2015 REVENUE BONDS - CONSTRUCTION THE 2015 BOND PROCEEDS WERE USED TO RENOVATE FITZ HALL AND THE SCIENCE CENTER CLASSROOM, RESEARCH, ADMINISTRATIVE AND SYSTEMS FACILITIES AND AREAS; TO CONSTRUCT AND DEVELOP CAMPUS ROADWAYS, WALKWAYS AND GREEN SPACES; TO RENOVATE THE FRERICKS CENTER FOR IMPROVED ACADEMIC AND ATHLETIC FACILITIES; TO CONSTRUCT AND RENOVATE LABORATORY, RESEARCH AND ADMINISTRATIVE FACILITIES AT 1700 SOUTH PATTERSON BUILDING; TO REFUND A PORTION OF THE BOND ISSUE DATED AUGUST 4, 2006 AND TO REFUND A PORTION OF THE BOND ISSUE DATED OCTOBER 29, 2003.
Schedule K, Part II, Line 3 2006 BONDS CONSTRUCTION THE DIFFERENCE BETWEEN PART I (e) AND PART II, LINE 3 IS DUE TO INTEREST EARNINGS ON BOND PROCEEDS.
Schedule K, Part II, Line 3 2006 BONDS REFUNDING THE DIFFERENCE BETWEEN PART I (e) AND PART II, LINE 3 IS DUE TO INTEREST EARNINGS ON BOND PROCEEDS.
Schedule K, Part II, Line 3 2006 BONDS REFUNDING THE DIFFERENCE BETWEEN PART I (e) AND PART II, LINE 3 IS DUE TO INTEREST EARNINGS ON BOND PROCEEDS.
Schedule K, Part III, Line 7 THIS APPLIES TO ALL BOND REFUNDING/BOND CONSTRUCTION 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, Part IV, Line 2b 2006 BONDS REFUNDING THE CURRENT REFUNDING PORTION OF THE BOND ISSUE HAS MET THE 6-MONTH EXCEPTION TO REBATE.
Schedule K, Part IV, Line 2b 2006 BONDS REFUNDING THE CURRENT REFUNDING PORTION OF THE BOND ISSUE HAS MET THE 6-MONTH EXCEPTION TO REBATE.
Schedule K, Part II, Line 3 2009 BONDS CONSTRUCTION THE DIFFERENCE BETWEEN PART I (e) AND PART II, LINE 3 IS DUE TO INTEREST EARNINGS ON BOND PROCEEDS.
Schedule K, Part II, Line 3 2009 BONDS REFUNDING THE DIFFERENCE BETWEEN PART I (e) AND PART II, LINE 3 IS DUE TO INTEREST EARNINGS ON BOND PROCEEDS.
Schedule K, Part II, Line 3 2011 BONDS REFUNDING THE DIFFERENCE BETWEEN PART I (e) AND PART II, LINE 3 IS DUE TO INTEREST EARNINGS ON BOND PROCEEDS.
Schedule K, Part IV, Line 2b 2009 BONDS CONSTRUCTION THE CURRENT REFUNDING PORTION OF THE BOND ISSUE HAS MET THE 6-MONTH EXCEPTION TO REBATE.
Schedule K, Part IV, Line 2b 2009 BONDS REFUNDING THE CURRENT REFUNDING PORTION OF THE BOND ISSUE HAS MET THE 6-MONTH EXCEPTION TO REBATE.
Schedule K, Part IV, Line 2b 2011 BONDS REFUNDING THE CURRENT REFUNDING PORTION OF THE BOND ISSUE HAS MET THE 6-MONTH EXCEPTION TO REBATE.
Schedule K, Part II, Line 3 2013 BONDS REFUNDING/CONSTRUCTION THE DIFFERENCE BETWEEN PART I (e) AND PART II, LINE 3 IS DUE TO INTEREST EARNINGS ON BOND PROCEEDS.
Schedule K, Part IV, Line 2b 2013 BONDS REFUNDING/CONSTRUCTION THE CURRENT REFUNDING PORTION OF THE BOND ISSUE HAS MED THE 6-MONTH EXCEPTION TO REBATE.
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 04/01/2015 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $54,453,983 TOTAL INVESTMENT EARNINGS: $278,705
Schedule K, Part I, Column (f) 2016 REVENUE BONDS - REFUNDING THE 2016 A BOND PROCEEDS WERE USED TO FINANCE THE CURRENT REFUNDING OF THE BORROWER'S SERIES 2011 B BONDS (ISSUED ON MARCH 16, 2011).
Schedule K, Part IV, Line 2c 2016 REVENUE BONDS - REFUNDING THE ISSUE QUALIFIED FOR A SPENDING EXCEPTION TO REBATE. NO REBATE CALCULATION HAS BEEN OR WILL EVER BE MADE, BEFORE OR AFTER THE DUE DATE OF AN 8038-T.
Schedule K, Part I, Column (g) 2006 REVENUE BONDS THE BONDS THAT WERE DEFEASED HAVE BEEN RETIRED AS OF DECEMBER 1, 2016.
Schedule K, Part I, Column (f) 2016 REVENUE BONDS REFUNDING THE 2016 B BOND PROCEEDS WERE USED TO REFUND A PORTION OF THE BORROWER'S SERIES 2006 BONDS (ISSUED AUGUST 4, 2006).
Schedule K, Part IV, Line 2c 2016 REVENUE BONDS REFUNDING THE ISSUE QUALIFIED FOR A SPENDING EXCEPTION TO REBATE. NO REBATE CALCULATION HAS BEEN OR WILL EVER BE MADE, BEFORE OR AFTER THE DUE DATE OF AN 8038-T.
Schedule K, Part II, Line 3 2011 BONDS CONSTRUCTION THE DIFFERENCE BETWEEN PART I (E) AND PART II, LINE 3 IS DUE TO INTEREST EARNINGS ON BOND PROCEEDS.
Schedule K, Part IV, Line 2c COLUMN B ISSUER NAME: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON 03/16/2016
Schedule K, Part VI OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 03/16/2011 BOND ISSUE TOTAL PROCEEDS AT ISSUE: $42,580,636 TOTAL INVESTMENT EARNINGS: $9,334
Schedule K, Part IV, Line 2c COLUMN A Issuer name: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION The calculation for computing no rebate due was performed on 08/04/2011
Schedule K, Part IV, Line 2c COLUMN B Issuer name: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION The calculation for computing no rebate due was performed on 08/04/2011
Schedule K, Part IV, Line 2c COLUMN C Issuer name: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION The calculation for computing no rebate due was performed on 08/04/2011
Schedule K, Part IV, Line 2c COLUMN D Issuer name: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION The calculation for computing no rebate due was performed on 03/20/2014
Schedule K, Part IV, Line 2c COLUMN A Issuer name: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION The calculation for computing no rebate due was performed on 03/20/2014
Schedule K, Part IV, Line 2c COLUMN B Issuer name: OHIO HIGHER EDUCATIONAL FACILITY COMMISSION The calculation for computing no rebate due was performed on 03/16/2016
Schedule K (Form 990) 2016

Additional Data


Software ID: 16000421
Software Version: 2016v3.0