return to www.NCBUSSAFETY.org/FINANCE/

2020-2021 Replacement School Bus Financing - Documents and Procedures
Financing provided by Banc of America Public Capital Corp (BAPCC)

• Master Facilitator Agreement between NC State Board of Education and BAPCC - dated March 4, 2021.
• Master Replacement Bus Financing Agreement between North Carolina LEAs and BAPCC - Final Version for download and LEA signature.
• Memo from Kevin Harrison dated March 8, 2021: 2020-2021 Replacement School Buses - Financing Arrangements
• Request for Payment: LEA Financed Purchase of Replacement School Buses
• Exhibit B for all counties - print just the one for your county.
• BAPCC Federal Employer Identification Number: 540904325
  
• LEA INSTRUCTIONS FOR PROCESSING REPLACEMENT BUS FINANCING AGREEMENT:
• Complete Request for Payment form and email to DPI Transportation Services (Jaime.Doran@dpi.nc.gov).
  Note: You may attach a copy of your EXHIBIT B AGGREGATE LIST OF REPLACEMENT SCHOOL BUSES ANTICIPATED TO BE ACQUIRED and put "See Attached" rather than duplicating all of the payment information.
• Receive from DPI an approval of the request for payment.
• Download a copy of the Master Replacement Bus Financing Agreement (MRBFA) and include YOUR EXHIBIT B - AGGREGATE LIST OF REPLACEMENT SCHOOL BUSES ANTICIPATED TO BE ACQUIRED.
• Fill in the MRBFA and get appropriate signatures IN DUPLICATE as follows:
  • Page 1, paragraph 1 - fill in DATE, OFFICIAL LEA NAME, LEA ADDRESS
  • Page 8, Article X, 10.04 fill in LEA name, department and contact name for official correspondence related to the financing agreement
  • Page 9, bottom - Appropriate signature for this agreement - either authorized Board member/chairman
    OR superintendent, depending on local procedures.
  • Page 10, Exhibit A - Fill in date, LEA name, from page 1, paragraph 1
  • Page 17, Exhibit B - replace with the one provided by DPI Transportation Services and fill in date, LEA name from page 1, paragraph 1
  • Page 18, Exhibit C - fill in date, LEA name, from page 1, paragraph 1
  • Page 19, Exhibit C - Fill in Federal Tax ID Number, date and authorized signature.
  • Page 20, Appendix # __ Fill in date, LEA name, from page 1, paragraph 1
  • Page 21, Payment Schedule to Appendix __ - Fill in date, LEA name, from page 1, paragraph 1
  • Do Not Complete - Part 3 - Request for Disbursement (Page 21) - Will be completed by DPI on LEA behalf upon payment to vendor.
  • Do Not Complete - Acceptance Certificate (Page 22) – Will be completed upon acceptance of bus.
    
    

NOTE:
- Email a copy of the signed MRBFA and exhibit B to bridgett.arnold@bofa.com and jaime.doran@dpi.nc.gov
- Mail TWO SIGNED ORIGINAL MRBFA's by March 26, 2021 to:

Banc of America Public Capital Corp
11333 McCormick Road
Hunt Valley, MD 21031

ATTN: Terri Preston


BAPCC will return one signed original MRBFA to the LEA. 

 

 

updated 03/10/2021