Public School Academy State Aid Note (PSA SAN)
Closing: September 3, 2020
Application Due: July 13, 2020
The Michigan Finance Authority (MFA) offers a streamlined loan program to finance short-term operational cash flow needs for public school academies. MFA facilitates the process by pooling the loans, soliciting bids, and obtaining the highest possible short-term rating, resulting in competitive interest rates and typically lower costs for the schools.
September 2020 PSA SAN: General Information
- Program Requirements 2020
- Program Memo 2020
- Application and Loan Process 2020
- Financing Schedule 2020
- State Aid Status Reports
Documents due on or before July 13, 2020
- PSA State Aid Note Loan Program Application (Form 4039A)
Submit to Note Counsel as a Word document (in addition to the signed copy) - Certificate of Authorizing Body (Form of)
- Educational Service Provider Agreement (management contract), if any
- PSA State Aid Note Loan Program Cash Flow Attachment (Form 4046A)
Submit to Note Counsel as an Excel spreadsheet - Academy Board Resolution Authorizing 2020 State Aid Note Borrowing (Form of)
- Academy General Fund Budget – Fiscal Year End 6/30/2020, as amended
- Academy General Fund Budget – Fiscal Year End 6/30/2021, as adopted
Richard H. Austin Building, 1st Floor
430 W. Allegan
Lansing, MI 48922
Phone: 517-335-0994
Fax: 517-241-9509
