East Orange BOE Lease Purchase -Due 2-5-2026

The East Orange Board of Education is seeking a qualified financial institution to provide lease‑purchase financing for a single Ford Transit 350 XL passenger van. The Board will pay a $5,000 deposit and finance the remaining $52,340 over a five‑year term with equal annual payments. The financing must be placed in an interest‑bearing escrow account at a New Jersey GUDPA‑approved institution, with no disbursement fees to the vendor. The award will be based on the lowest indexed interest rate, with a 30‑day rate‑hold period and a defined indexing mechanism tied to ICE swap rates. All standard certifications (affirmative‑action, debarment, political contributions, etc.) and a New Jersey Business Registration Certificate are required. • Financing of $52,340 principal for a Ford Transit 350 XL van (sticker price $57,340). • Fixed five‑year term with annual equal payments; rate indexed to ICE Swap Rate (½ × change). • Escrow must be at a NJ GUDPA‑approved bank, interest‑bearing, with zero vendor disbursement fees. • Submission deadline February 5, 2026 (11:00 a.m.); questions due by February 2, 2026; award/closing expected same day.