Public Works Equipment Installment Financing
City of Graham
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Description
The City of Graham is requesting proposals from financial institutions for a commercial loan or installment financing agreement to fund the purchase of public works equipment, including a Heil Python 28-yard automated side loader and a CAT 120 motor grader with all-wheel drive. The purchase price and maximum amount to be financed are $792,091. The City anticipates a five-year term with annual payments and will consider a single fixed interest rate for the full amortization period. Proposals should address prepayment without penalty, closing and ongoing costs, transaction conditions, and any rights to withdraw the proposal. Selection will be based substantially on total financing cost, including interest and upfront fees, subject to City Council approval.
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