| The FlexFund program helps school
districts finance purchases (classroom equipment, portables, school buses, computers, land
purchases, remodeling, building additions, etc.) through their non-voted debt capacity.
FlexFund also may be used to refinance existing leases, loans and some outstanding general
obligation bonds.  FlexFund is financed
through the sale of certificates of participation (COPs) which fund participating
districts’ lease-purchase agreements. The transaction involves the school district
administration; Seattle-Northwest Securities Corp., program underwriter;
Davis Wright
Tremaine, bond counsel; and a standby trustee who also serves as registrar and paying
agent. Districts are free to use the contractor/vendor of their choice.
FlexFund certificates of participation sales
take place on an as needed basis. Interest rates are set just before each sale.
For additional information contact
Javier Fernandez at Seattle-Northwest
Securities, (503) 275-8309. |
