FY2027 CIP Lease-Purchase Financing
City of Rockland > Finance Department
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The City of Rockland, Maine is soliciting bids for a lease-purchase financing transaction not to exceed $625,000 for vehicles and equipment projects approved in its FY2027 capital improvement budget. Funded purposes include fire/EMS equipment; public services vehicles and equipment; police department vehicles and equipment; and stormwater maintenance vehicles and equipment. The proposed lease term is five years, with five equal annual payments of level principal and interest, beginning one year after the anticipated November 16, 2026 closing date. The financing is tax-exempt, designated as a qualified tax-exempt obligation under Section 265(b) of the Internal Revenue Code, and subject to non-appropriation. Bids must state the interest rate and calculation basis, provide a payment schedule showing total interest, specify how long the bid remains open, and identify other terms and conditions.
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