Tax-Exempt Lease-Purchase Financing for Trolley Vehicles

The City of Newport Beach is seeking proposals from qualified financial institutions to provide up to $1.8 million in tax-exempt lease-purchase financing for six trolley vehicles, with five annual lease payments.

City of Newport Beach > Finance Department


General
Open (bidding)
27-15
Oct 20, 2026 08:00 PM
Sep 29, 2026 10:27 PM
$1,800,000.00
5 years
Request for Proposal (RFP)
Local
Ask AI about this solicitation
Original Solicitation Links
Contact
purchasing@newportbeachca.gov
+19496443080
100 Civic Center Drive, Newport Beach, CA, USA
Submission Instructions
Description

The City of Newport Beach is seeking proposals from qualified financial institutions and financing providers for tax-exempt lease-purchase financing covering the remaining acquisition cost of six trolley vehicles for City operations. The selected proposer will be evaluated on the overall financing solution, including cost, qualifications, financing terms, and ability to accommodate anticipated acquisition draws. The aggregate principal amount may not exceed $1,800,000. The anticipated repayment schedule consists of five annual lease payments expected during Fiscal Years 2026–27 through 2030–31. The City intends to make a single award, subject to final City and/or City Council approval of the financing structure, pricing, and agreement terms.

Classification Codes
NAICS522220Sales Financing
PSCW099Lease or Rental of Equipment: Miscellaneous
Smart Codes
tax-exempt financinglease-purchase financingmunicipal vehicle financing
Specifications
Service Only
Timeline
Sep 29, 2026-Bid Posted Date
Oct 06, 2026 07:00 PM-Questions Due Date
Oct 20, 2026 08:00 PM-Proposal Due Date
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