LEA Information for the Financed Purchase of School Buses

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.