Description
The Township of Ewing Board of Education seeks a qualified financial institution or leasing company to provide a tax‑exempt lease‑purchase financing arrangement valued up to $1.25 million for a broad array of school equipment and facilities. The selected vendor will structure a five‑year amortization schedule with annual principal payments, semi‑annual interest, and may manage an escrow account at a NJ‑approved institution. The contract will be awarded to the bidder offering the lowest overall borrowing cost, subject to extensive New Jersey public‑contract compliance documentation.
• Scope: financing of technology, instructional, building, library, vehicle, and related equipment via a lease‑purchase arrangement.
• Financial terms: up‑to‑$1.25 M principal, 5‑year amortization, interest rate to be quoted (rate‑lock 30 days), escrow interest excluded from cost.
• Compliance: must meet NJ public‑school contracting laws, provide non‑collusion affidavit, stockholder disclosures, affirmative‑action/ADA certifications, NJ business registration, and political‑contribution disclosures.