State Aid Note - Grand Traverse Academy RFP-DN-GTA

Grand Traverse Academy » RFP-DN-GTA

The information below is a summary of solicitation number RFP-DN-GTA posted by Grand Traverse Academy.  As a reminder, this solicitation is closed and responses are no longer being accepted.

State Aid Note

Date Issued: 08/02/2016

Deadline: 08/09/2016  prior to 2:00 PM   E.D.T.

Requisition Number:

Delivery Point: Traverse City, MI 49686

Delivery Date: As specified

Type of Purchase: Term: Unspecified

Construction Related: No

Type of Response Allowed: Hard Copy Only

Issuing Agency: Grand Traverse Academy

Using Department: Grand Traverse Academy

Special Notices: All or None Award


Due Date: 8/8/2016 3:00:00 PM E.D.T.

Primary Contact Name: Mr. Mark Noss

Title: Full Spectrum Management CEO



August 1, 2016 Grand Traverse Academy 1245 Hammond Rd. E Traverse City, MI 49686  Re: Request for Proposal: 2016 State Aid Note Dear Investor:  The Grand Traverse Academy, a Michigan public school academy (“Academy”), is requesting bids for a State Aid Note (general obligation) (the “Note”). The proceeds of the Note will be used for school operations and will be secured by the Academy’s 2016-2017 State Aid payments. The terms of the Note are as follows: Amount: Not to exceed $2,900,000 Issue Date: On or before August 20, 2016 Due Date: On or before August 20, 2017 Legal Authority: Sections 504 and 1225 of the Michigan Revised School Code (MCL 380.1225) Not Bank Qualified: The Note will not be designated as a “qualified tax exempt obligation” under IRC Section 265. Legal Opinion: Legal opinion will be furnished by Miller Canfield, PLC, at Academy’s expense.  For your information, enclosed please find the District’s 2016-2017 projected operating cash flow and the audited financial statements for the year ending June 30, 2015.  Bid proposals for the Note should be sent to my attention at the above-referenced address. The bid must be received by August 9, 2016 at 5:00 p.m. All bids received will be opened on August 10, 2016 at 1:00 p.m.  If you have any questions or would like to further discuss this matter, please feel free to contact me at (231) 631-1984 at your convenience.  Very truly yours,  Mark D. Noss 

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