Monroe Public Schools Resolution Authorizing Issuance of Notes in Anticipation of State School Aid 2026-06-23
U.S. Bank Named Depository for School Aid Notes
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Description
Monroe Public Schools authorized U.S. Bank Trust Company, National Association to serve as Depository for its 2026 State School Aid Notes and as Trustee for the Michigan Finance Authority’s corresponding revenue notes. The bank will manage note payment accounts, investments, and state aid intercepts through final maturity in 2027.
Contract Details
Vendor
U.S. BANK TRUST COMPANY NATIONAL ASSOCIATION
Agency
Jefferson Schools (Monroe), MI
Contract Type
FINANCIAL_SERVICES
Document Date
June 23, 2026
Contract Term
Acts as Depository and Trustee during the life of the Notes, including through maturity dates in 2027
Renewal Date
2027-08-20
Renewal Info
Depository and trustee roles continue until all Payment Obligations on the Notes and related Authority revenue notes are paid; any successor depository must be appointed by the Michigan Finance Authority if U.S. Bank resigns or is removed.
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