Description
The City of Saco is seeking a tax‑exempt capital financing solution for a suite of municipal equipment, including plow trucks, police tasers, dump trucks, a passenger van, and a tractor. The city will evaluate vendors based on market availability and pricing rather than a competitive bidding process, and it requests both “float” and “30‑day lock‑in” interest rates. The financing total is $1,067,386, to be repaid annually over a five‑year lease term, with a first‑year payment cap of $208,093. This opportunity is suited for firms that provide equipment leasing, financing, or related financial services to government entities.
• Equipment list: 2 DPW plow trucks, police tasers, DPW sidewalk plow with mower, DPW F‑550 dump & plow, P&R F‑450 rackbody, 15‑passenger van, P&R Kubota tractor.
• Financing details: $1.07 M total, 5‑year term, annual payments, request for float and 30‑day lock‑in rates.
• Vendor selection: Market‑driven; no formal competitive bid required.
• Key deadlines: Proposals due July 11, 2022 5 PM; bid opening July 12, 2022 9 AM.