MassDevelopment has issued a $16 million tax-exempt bond on behalf of May Institute in Randolph, a nonprofit that provides health services for the disabled.

The May Institute provides educational, rehabilitative and behavioral health services to individuals with autism spectrum disorders and other developmental disabilities, brain injury, mental illness and behavioral health needs.

The organization plans to use bond proceeds to purchase 14 Pacella Park Drive in Randolph, which it currently uses for a day habilitation program and administrative offices. Century Subsidiary Investments Inc. purchased the bond.

"This low-cost financing will help May Institute purchase a facility that houses various operations, including its newest program for young adults with disabilities," said MassDevelopment President and CEO Robert L. Culver. "We’re pleased to support an organization that does so much to help children, adolescents and adults with challenges to reach their full potential."

"This financing will enable us to further strengthen our infrastructure as we continue to expand operations to meet the needs of the communities we serve," said Michael Milczarek, chief financial officer at May Institute. "We are very grateful for the support of MassDevelopment and excited about the opportunities available to us as a result of this endeavor."