The vendor is required to provide trustees and loan servicers to receive, track, account, disburse, collect, and report federal funds on behalf of the authority in the successful compliance of federal funding agreements and requirements.
- Trustee services:
• Trustee holds and administers escrow accounts according to the master trust indenture 
• The trustee creates and maintains an escrow account for each disbursement of federal funds allocated for a loan involving a qualified project as directed under the master trust indenture. 
• New accounts can be created as the need arises at the direction of the authority. 
• Any moneys held as part of any fund or account are held by the trustee in accordance with governing agreements entered between the authority, trustee, and borrowers as applicable [e.g., master trust indenture, tax agreements, and any applicable investment agreements]. 
• All funds, including earned interest, must be tracked and accounted for properly to be treated as program income under federal requirements. 
• Daily reporting or access to reporting on cashflow within the above accounts to monitor borrower disbursements. 
• Monitor that all reserve funds are maintained at appropriate levels. 
• The trustee provides online access to account information as well as monthly and annual statements on all funds and accounts. downloadable reports are required. 
• The trustee consults with the authority, bond counsel and the financial advisors and will participate cooperatively in audits or inspections of financial accounts under the direction of the authority. 
• The bank must be depository trust company (DTC) eligible. 
• The bank must be a qualified depository of state.
a. General fees for trustee services (please provide a quote for each of the following):
• Administration fee; 
• Legal fees relating, if applicable, to the closing of each underlying loan to the borrower, either a public or private entity, [and if applicable, annual legal expenses for ordinary services under the indenture]; 
• Any other fees or expenses (please specify).
- Loan servicer services:
• The trustee acts as loan servicer and is the responsible party for disbursement to the borrowers from various accounts and the computation and re-computation of amortization schedules and payments under each loan. 
• The trustee is responsible for program maintenance, including 
o Disbursement of borrower payments in accordance with authority and federal program polices for compliance purposes; 
o Collection of borrower repayments; 
o Computation of outstanding loan amounts; and 
o Consultations with the authority, legal counsel, financial advisors and borrowers. 
• In providing its loan servicing services, the trustee will be required to 
o Provide monthly and annual status reports on each loan; 
o Set up amortization schedule(s) for each loan; 
o Participate in audits or inspections of loans as required under federal funding award; and 
o Other duties as required for compliance of the federal funding awards governing the use of funds deployed to projects.
a. General fees for loan servicing duties:
• Annual servicing fee per loan;
• Other fees (please specify).
- Loan loss reserve funds:
• The authority intends to create multiple loan loss reserve funds for which it will require the trustee to perform the following functions:
o Hold and invest the loan loss reserve funds in separate accounts for each borrower/lender; 
o Calculate the required loan loss reserve amount for each borrower and lender based on approved activity governing use of funds; and 
o Originate loans for qualified projects using the loan loss reserve funds as credit enhancement for evaluating credit quality and working cooperatively with the authority on program implementation in accordance with federal funding requirements
o Other tracking, accounting, and reporting duties as required for compliance of the federal funding awards governing the use of funds deployed to projects.
a. General fees for loan loss reserve fund duties:
o Administrative fee per reserve funds; 
o Other fees (please specify).
- Questions/Inquires Deadline: June 12, 2025