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Who will be bond trustee?

Question: 
Who will be bond trustee?
Answer: 

We are not proposing a bond trustee. If the investor requires a trustee or an alternative collateral agent, it would be given consideration in the pricing and negotiation of terms. The tax revenue for debt service comes in annually directly to VHFA and the debt service is paid out semi-annually to the investor as outlined in the RFP. There will be no collections of mortgage proceeds backing this financing; these funds are effectively grants to VHCB for eligible purposes.