RFP 20-FN-005 - Bank Loan - Lease Purchase Financing
The City of Edgewater, Florida (the “City”) is requesting proposals from various financial institutions for a principal amount not to exceed $922,000 for a bank qualified, tax-exempt fixed rate financing. The proceeds will be used to finance four (4) refuse trucks for the City.
The City is seeking a 7-year financing. The financing with be secured by non-ad valorem revenues of the City sufficient to pay the principal and interest on the loan.
The City shall accept and review proposals from qualified financial institutions based upon the proposed financing structure below. The City will select the financing that provides the lowest overall borrowing cost to the City and meets the financing requirements of the City. Hilltop Securities Inc. (“Hilltop Securities”), Orlando, Florida, is serving as the City’s Financial Advisor.
