The Pennsylvania Higher Educational Facilities Authority is responsible for financing the construction and improvements of public schools. FHEFA finances these projects through the issuance of bonds and has no general liability with respect to these obligations and has no beneficial interest in the related assets held by trustees. The Pennsylvania Higher Educational Facilities Authority acts solely in an agency capacity, and serves as a financing conduit, bringing the borrower and the lender together. The Pennsylvania Higher Educational Facilities Authority mission is to make lower cost tax-exempt financing available to school districts and community colleges in the state of Pennsylvania.