LEASE / PURCHASE FINANCING - PUBLIC SAFETY EQUIPMENT

The City of Palm Bay, Florida is seeking proposals for lease/purchase financing of public safety equipment. The city intends to finance an aggregate principal amount not to exceed $754,000.00 under a lease/purchase agreement. The proceeds from the financing will be used to purchase public safety equipment for the City's Police and Fire Departments. The city is seeking proposals from financial institutions it currently has a Master Lease Agreement with, as well as other qualified institutions. The city will select the lease/purchase that provides the lowest overall borrowing cost to the city and which meets the financing requirements of the city. • The city is seeking proposals for both 3 and 5 year terms. • All equipment will be purchased under an existing State of Florida competitively awarded contract. • The city reserves the right to reject any and all proposals offered. • The city is requesting proposals for both three (3) and five (5) year terms and all offers shall include amortization schedules.