Notice to Bidders
Request for Proposal
Status: Awarded
Bid#: 2014-00007-CN
Title: Master Lease Financial Services
Issue Date: 07/26/2013
Request Opens: 08/16/2013
Prebid/Preproposal Conference: N/A
Payment for Bid Document: None
Purpose
The intent of this Request for Proposal (RFP) is to solicit proposals from qualified offerors to provide tax exempt lease/purchase financing for the acquisition of new capital, rolling stock equipment, and vehicles, as well as the lease/purchase of new, addition or replacement generators for the City of Suffolk for Fiscal Year 2014 through FY 2018 with the option of the financing of additional equipment at a later date on an ???as needed??? basis. The Master Lease shall be for five (5) years at a fixed interest rate. The equipment acquired via the lease agreement must serve a governmental purpose and have a useful life of five (5) years or more. The Lease will provide the City with a fixed repayment schedule with low, tax exempt, fixed interest rates. The lease will not be considered debt of the City, and the equipment will serve as collateral. For Fiscal Year 2014, anticipated costs for vehicular and road maintenance equipment is $4,193,600.00; anticipated costs for generators is $2,682,820.00. See Attachment A.
Notes
The City of Suffolk wishes to have a financing mechanism in place to purchase such items as public safety vehicles, mowers, tractors, heavy road equipment, generators, and, possibly, at the option of the City, other non-real property items such as IT hardware, software, fiber optics lines, etc.
Buyer Contact
Cindy Norfleet, CPPB, Senior Buyer Phone: (757) 514-7522 E-mail: cnorfleet@suffolkva.us
Associated Documentation
1664_Master_Lease_Financial_Services.pdf

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