RFP-EW-2015-03 - Street Sweeper Installment Purchase Agreement

Summary of Specifications:
The City of Monroe, Michigan (the “City”) is currently planning to enter into an Installment Purchase Contract, pursuant to Act 99 of the Public Acts of Michigan of 1933, as amended, with a third party vendor in the amount of $249,990, to provide funds for the purpose of financing the cost of the purchase of a street sweeper. Security for the payments to be received pursuant to the Installment Purchase Contract will be a pledge of taxes levied upon taxable property located within the City, subject to applicable constitutional, statutory and charter tax rate limitations. It is the intent of the City to solicit bids from investors who may be interested in receiving an assignment of the vendor’s interest in the Installment Purchase Contract. Please see attached request for proposal for additional details and instructions.