[Cobo] Real Property Master Lease

[Mauck, Sheri]

Business Officers,

 

Attached is the application packet for submission of real property
projects to be financed under the expanded Master Lease Program
authority created by the State Legislature in May of 2005.  You will
recall that the parameters authorized in the legislation state that
projects must be valued at a minimum of $50,000 up to a maximum of $25
million and have a useful life of no more than 30 years.

 

We will be collecting your submissions beginning September 1st through
September 15th.  Bond Counsel will then analyze your information and
determine eligibility of your projects for participation in the
submission to the State Regents at their October 26th meeting.  It is
expected that funding would be available in early December.

 

The next round of Real Property submissions is tentatively scheduled for
the January timeframe with funding available in May.  

 

Bond Counsel will analyze carefully all the factors that could impact an
issuance and may require additional information based upon your initial
application questionnaire.  If this is necessary we will be in contact
with you.

 

Please let me know if you have additional questions and please return an
application worksheet(s) for any real property projects you wish to
submit for consideration before or by September 15, 2006.

 

The attached appendix is to provide additional information to help
educate you to the aspects of private use/management contracts and
research agreements and their impact on bond issuances.  This is
included for informational purposes only.

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