SUNY Syracuse $51 Million Tax-Exempt Equipment Lease Financing
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C004562
]suny syracuse 2027 series xxvii
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The State University of New York is soliciting proposals from qualified equipment lessors to fund a $51,000,000 Tax-Exempt Equipment Lease Program transaction for SUNY Syracuse Upstate Medical Center and affiliates. The financed equipment includes a linear accelerator, nuclear medicine and ultrasound units, mammography equipment, C-arms, laboratory equipment, patient monitors and beds, anesthesia machines, radiology workstations, telemetry equipment, computers, network equipment, and other medical and information technology equipment. The selected lessor must have an established track record in large-ticket tax-exempt leasing, be an approved lessor under the Dormitory Authority of the State of New York TELP program, fund vendor progress payments from escrowed funds, and make vendor payments within 14 days of completed drawdown requests. The lessor must bid on the entire amount, provide a five-year fixed-rate lock and applicable rate-index methodology, include an illustrative Excel amortization schedule, describe lease-payment and credit-approval procedures, accept the specified assignment restrictions and standard state contract provisions, and perform without subcontracting. The lease term is five years with semiannual payments in arrears; equipment drawdowns are expected over an 18-month period.
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