Description
This solicitation seeks a qualified financial institution to provide lease‑purchase financing for the acquisition of five new school buses for the Marlboro Township Board of Education. The financing amount totals $812,084.15, to be repaid over a five‑year term with annual payments. Bidders must submit an indexed interest‑rate proposal, disclose escrow costs, and provide all required certifications. The award will go to the lowest effective indexed rate after yield analysis, with ties broken by index advantage and pre‑payment penalties.
• Scope: 5‑year, fixed‑rate lease‑purchase loan covering four 54‑passenger diesel buses and one 24‑passenger mid‑bus.
• Financials: Principal $812,084.15; sample annual payment $187,705.15 (including interest).
• Requirements: Complete bid package (interest‑rate bid, amortization schedule, escrow cost, certifications) by Aug 4 2026, 11 a.m.; questions due by Aug 1 2026; escrow must be held with a NJ GUDPA‑approved institution; no vendor disbursement fees.