Specifications include, but are not limited to: Facility Amount Up to $4.0 million Master Equipment Lease/Purchase Facility, with an option for an additional $1 million at the City’s request. Term of Commitment One year commitment with an option to renew for an additional year subject to mutual consent of Lessor and City. Lease Schedule Terms 5, through 7 years, depending on the type of equipment to be leased. Small equipment would be 5 years, and large equipment over $100,000 would be leased for 6 or 7 years. Lease Schedule Size Please confirm if there is a minimum size requirement for individual lease schedules. Lease Schedule Amortization Monthly payments of principal and interest structured such that annual debt service is level. Tax Status The City anticipates entering both taxable and tax-exempt lease schedules depending on the eligibility for tax-exempt financing.
