GS $Mart® Beta Plan (Taxable) Description

• No State financial obligation to pay until assets are accepted by the State.
• Funds are disbursed to the Supplier by the Lender after acceptance.
• No withholding of payments to Lenders for Supplier problems
• Should acceptance not occur when anticipated, the rate may be adjusted (up or down) based on the proportional change (not more than 10 basis points) to the U.S. Treasury bill rate for the payment periodselected as set forth on the Payment Schedule, Special Provisions and Notes.
• Financial obligations unrated and privately placed.
• Interest computed on 360-day year and at fixed rate for entire payment term.
• State will pay sales tax on purchase, and the sales tax may be financed.
• No termination for convenience allowed.
• Prepayment option with no penalty.
• Title passes to the State after acceptance.
• Standard non-appropriation provision included.
• Agency provides insurance policy or states self-insurance (by way of Certification form).
• Payments will be approximately equal and made in arrears
• State funds used and appropriated on annual basis
• No escrow funding (i.e., no advance payments by the State into an acquisition fund).