Vehicle and Equipment Lease-Purchase Financing
Mineral Wells
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Description
The City of Mineral Wells, Texas is requesting proposals from qualified financial institutions to provide tax-exempt, fixed-rate lease-purchase financing for the acquisition of various vehicles and equipment. The assets to be financed include a mid-size excavator with thumb, a breaker-hammer, a 36' mulcher, a compact track loader, a second mulcher, a heavy equipment transport trailer, and a 2-ton crew cab truck. The estimated total cost of the assets is $554,598, with a requested term of seven years. The financing must be structured as a tax-exempt, bank-qualified lease-purchase with a fixed interest rate for the full term, equal semiannual payments in arrears, and customary non-appropriation and termination provisions. The City will insure, operate, and maintain the assets. Proposers must disclose all fees, provide a complete amortization schedule, and submit a signed cover letter, financing proposal, firm qualifications, and any required disclosures. The evaluation will be based on total financing cost, compliance with requested structure, municipal financing experience, and funding readiness. Proposals must be submitted in a sealed package with one PDF copy on a USB drive to the City Finance office by September 18, 2026 at 2:00 p.m. CT.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Minimum 3 references
Documents
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