Government Contract | Maryland
Master Lease Agreement / Capital Leasing

Bid Information


Bid Alert No: 00002658934

Bid Title: Master Lease Agreement / Capital Leasing

Agency Bid No. Title: RFP A-22-102

Received Date: 06/22/2021

Close Date: 07/28/2021

Purchase Type: Term:

Delivery Point: Salisbury, Maryland

Delivery Date: Not Stated

Special Notices: Questions Due By 07/08/2021 12:00 PM

Specifications

Specifications include, but are not limited to: The City of Salisbury (hereinafter City) desires to establish a Master Lease FinancingProgram which will allow the City to contract for the acquisition of capital equipment items, furnishings or systems by financing theequipment acquisition through the lessor. Therefore, the City is soliciting proposals from qualified financial firms to provide a Master Lease Program of flexible, tax-exempt financing to the City on an as needed basis, for a period of two (2) yearsfrom the date of the fully executed contract, with renewal options for three (3) additional one (1) year terms. A formal Master Lease Agreement will be entered into by the City and the successful financial firm. That agreement may be renewed annually after the initial two year period upon mutual agreement of both parties. The lessor will be granted a security interest in the leased items while the City will retain title. At the end of the lease period, and upon completion of all payments, the City will own the leased property free and clear. All lease agreements will contain a provision for non-appropriation of funds and will not contain any restrictions on the Citys ability to acquire equipment in addition to, or in substitution for, the leased property. Real estate will not be included. Furthermore, under no circumstances, can a lien be placed upon real estate as collateral for any of the aforementioned leased property.

Bid Related Documents

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Bid Related Attachments

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Amendments

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Product Code: 94654

Agency Information


Issuing Agency: City of Salisbury

State: Maryland

Agency Type: State and Local

Contact: Jennifer L. Miller, Internal Services-Procurement Department 125 N. Division Street, Room 104, Salisbury, Maryland, 21801

Phone: 410-548-3190

Fax: 410-548-3192

Email: jennifermiller@citylivingsalisbury.com

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