Vehicle Financing Rates for $2.5M Lease Purchase Agreement

The City of Kingman is seeking bids from qualified financial institutions to provide a tax-exempt lease purchase agreement for a 10-year fixed rate lease purchase for $923,160.72 and 5-year fixed rate lease purchase for $1,613,616.76 for the financing of 30 vehicles and 2 heavy solid waste trucks. The selected financial institution will be required to provide a sample loan/lease purchase and escrow agreement, and must have experience with government lending. The City reserves the right to reject any bid not in compliance with all of the prescribed solicitation procedures and requirements contained in the IFB. Key aspects of the bid include: • Providing a tax-exempt lease purchase agreement for a 10-year fixed rate lease purchase for $923,160.72 and 5-year fixed rate lease purchase for $1,613,616.76 • Financing for 30 vehicles and 2 heavy solid waste trucks • Sample loan/lease purchase and escrow agreement required • Experience with government lending required • Bid must be submitted electronically through the OpenGov procurement portal • Bid must be received by 6:00 pm, Arizona time, on Tuesday, January 27, 2026