The Loudoun County School Board is seeking proposals to furnish $ 2,800,000 in lease/purchase financing of the vehicles and Equipment identified in Attachment A, Part 1 and $ 7,200,000 in lease/purchase financing of the technology equipment identified in Attachment B, Part 1. It will be necessary that the lease/purchase financing carry a fixed, tax-exempt rate of interest. This simple interest lease/purchase would be for a term of four years, and it will be repaid in four equal principal payments plus interest payable annually on the anniversary of the closing date, in 2025, 2026, 2027 and 2028 with the balance being renewed annually and subject to appropriation of funds. The fixed interest rate also must be firmly fixed for the entire period of the loan, and it cannot be increased at the annual renewal dates. The Loudoun County School Board anticipates a closing date on or about August 9, 2024.
