Description
The City of Charleston is seeking a qualified financial institution to provide financing services for the acquisition of commodities/equipment under a master lease purchase agreement. The agreement will be for an initial term of 18 months, with the option to extend for up to four additional one-year periods. The City estimates funding approximately $11,529,031.00 under this program over the 18-month period. The successful bidder will be required to provide semi-annual payment in arrears, with options for purchase at the end of the lease term.
Key aspects of the job include:
• Providing financing services for the acquisition of commodities/equipment
• Entering into a master lease purchase agreement
• Offering semi-annual payment in arrears
• Allowing for purchase options at the end of the lease term
• Complying with all applicable federal, state, and local laws and regulations
• Maintaining required insurance coverage
• Providing audited financial statements as required