Lease Purchase

The Haddon Heights Board of Education is seeking a lease‑purchase financing arrangement for a fleet of school buses totaling $165,791. The Board will fund the purchase and make five equal annual lease payments of approximately $38,398 starting August 1 2026. The financing must include all associated costs (interest, escrow fees, disbursement charges) and be backed by an interest‑bearing escrow account with a NJ‑approved financial institution. Bidders must submit a detailed interest‑rate proposal, an amortization schedule, cost disclosures, and a full suite of compliance forms (non‑collusion affidavit, ownership disclosure, affirmative‑action certification, political contribution disclosure, etc.). The award will be based on the lowest indexed interest rate after yield analysis, with tie‑breakers on index advantage and pre‑payment penalties.