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2025-2026 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 - First Renewal November 17, 2025
• Master Replacement Bus Financing Agreement between North Carolina LEAs and BAPCC (PDF or Doc) - Final Version for download and LEA signature.
• Memo from Kevin Harrison dated December 9, 2025: 2025-2026 Replacement School Buses - Financing Arrangements
• Request for Payment: LEA Financed Purchase of Replacement School Buses (PDF or Doc)
• Exhibit B for all counties (updated file coming soon) - print just the one for your county.
• BAPCC Federal Employer Identification Number: 540904325
  
• LEA INSTRUCTIONS FOR PROCESSING REPLACEMENT BUS FINANCING AGREEMENT:
  Districts can either download the documents, complete in Word(doc) and print OR print the PDF and fill out by hand. NOTE: Use only black ink for both options.
• Complete Request for Payment form (PDF or Doc) and email to DPI Transportation Services (brandon.smith@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 the Master Replacement Bus Financing Agreement (MRBFA) (PDF or Doc) 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
    (please extract your LEA’s Exhibit B from the file located above called
    “Exhibit B for all counties”) 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 22) - Will be completed by DPI on LEA behalf upon payment to vendor.
  • Do Not Complete - Acceptance Certificate (Page 23) – Will be completed upon acceptance of bus.
    
    

E-MAIL TO Banc of America Public Capital Corp and DPI Transportation
Services the signed Master Replacement Bus Financing Agreement (MRBFA) and the Exhibit B for your LEA.
Email a signed copy Master Replacement Bus Financing Agreement and Exhibit B to Bridgett Arnold (bridgett.arnold@bofa.com)
and Brandon Smith (brandon.smith@dpi.nc.gov).
***Note: Electronic copies of the Master Replacement Bus Financing Agreement and the attached Exhibit B in PDF format are now
acceptable. A hard copy is not required unless specifically requested subsequently***

updated 12/12/2025