Maintenance Fund

The Contract or a separate maintenance agreement with the Contractor, and the Lease-Back, shall provide that all capital maintenance of the Education Facility be performed by the Contractor as a separate cost, the terms of which, and the manner for establishing the amount of payment, shall be determined as a part of the request for proposal process; provided, however, that said documents may, at the discretion of the Education Agency, provide that capital maintenance with respect to equipment (including collateral equipment), onsite utilities, offsite utilities, access roads and other similar improvements need not be performed by the Contractor. The Contract or agreement and the Lease-Back may provide for a separate maintenance reserve fund for this purpose with sufficient funds to pay the costs of capital maintenance for a reasonable period not exceeding five

(5)years. The COL5/19/2021 CH. 58A - Ma Kåhat Act of 2008 maintenance reserve fund shall be used exclusively for the purpose of capital maintenance and shall be an interest bearing account segregated from other funds of the Education Agency.