Description
The City of Saco is seeking a tax‑exempt capital financing solution for a suite of eight municipal vehicles and equipment slated for 2024 acquisition. The vendor must provide a detailed financing proposal—including interest rate, fees, amortization schedule, and payment dates—covering a total annual financing amount of $1,355,000, with the first payment capped at $258,591. Delivery will be staggered throughout the year, requiring an escrow arrangement, and the financing term is specified as a five‑year float‑rate lease with a 30‑day lock‑in period. This RFP focuses on the financial structuring rather than the procurement of the equipment itself.
• Eight specific 2024 municipal assets to be financed (vehicles, ambulance, extrication equipment, DPW tools).
• Financing amount $1.355 M annually, first‑payment ceiling $258,591.
• Float‑rate 5‑year lease, escrow required for phased delivery.
• Vendor must supply rate, fees, amortization schedule, and related financing details.