FINANCIAL_SERVICESAPPROVED

Virginias Community Collages Awards Financial Services Contract to Virginia College Building Authority (September 2016)

The State Board for Community Colleges approved entering into a Loan Agreement with the Virginia College Building Authority to issue promissory notes of up to $13.7 million to finance or refinance a parking garage project at Virginia Western Community College. The Authority will purchase the notes with proceeds of its Educational Facilities Revenue Bonds under the Public Higher Education Financing Program, subject to defined interest rate and maturity parameters.

Status
APPROVED
Document date
September 15, 2016
Contract type
FINANCIAL_SERVICES
Vendor
Virginia College Building Authority
Agency
Virginias Community Collages · VA

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WithersRavenel logo
Derivita logo
Comcate logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
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Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $13,700,000 in aggregate principal amount of the Note
Contract type
FINANCIAL_SERVICES
Contract term
Weighted average maturity not to exceed 20 years after original issue date; final maturity not beyond weighted economic life of the project
Renewal
Single financing authorization for issuance and potential refunding of pooled bonds; not structured as a renewable services contract. Amendments to the Note and Loan Agreement are permitted within the approved parameters for refunding or restructuring.
Document type
Resolution
Source document
state-board-for-community-colleges-resolution-september-15-2016_677.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Virginias Community Collages?

Virginia College Building Authority was awarded this financial services contract by Virginias Community Collages, as recorded on September 15, 2016. The contract value is Not to exceed $13,700,000 in aggregate principal amount of the Note.

How much is the Virginia College Building Authority contract with Virginias Community Collages worth?

The Virginia College Building Authority contract with Virginias Community Collages is valued at Not to exceed $13,700,000 in aggregate principal amount of the Note, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a resolution record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in state-board-for-community-colleges-resolution-september-15-2016_677.pdf (Resolution), dated September 15, 2016 from Virginias Community Collages. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Virginia College Building Authority hold?

Virginia College Building Authority may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Virginias Community Collages currently buying?

Explore Virginias Community Collages's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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