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HomeMy WebLinkAboutLease Finance Agreement - Public-finance.com - Lease Financing for Vehicles and Equipment.t :ram .�i Y� .��- _ � . - ,.�.,• __ CIS'' �F. �, :'j`' ` _ z�si ,., .. - � ' ,� ... '�'�,' �� South Bend 2017B 7/26/2017 11:21 AM Page 1 Compound Period: Nominal Annual Rate: CASH FLOW DATA Semiannual 1.944 Event Date Amount Number Period End Date 1 Loan 8/24/2017 1,632,000.00 1 2 Payment 2/15/2018 172,005.25 10 Semiannual 8/15/2022 AMORTIZATION SCHEDULE - Normal Amortization, 360 Day Year Date Payment Interest Principal Balance Loan 8/24/2017 1,632,000.00 2017 Totals 0.00 0.00 0.00 1 2/15/2018 172,005.25 15,422,42 156,582.83 1,475,417.17 2 8/15/2018 172,005.25 14,341.08 157,664.17 1,317,753.00 2018 Totals 344,010.50 29,763.50 314,247.00 3 2/15/2019 172,005.25 12,808.58 159,196,67 1,158,556.33 4 8/15/2019 172,005,25 11,261.18 160,744.07 997,812.26 2019 Totals 344,010.50 24,069.76 319,940.74 5 2/15/2020 172,005.25 9,698.75 162,306.50 835,505,76 6 8/15/2020 172,005.25 8,121.13 163,884.12 671,621.64 2020 Totals 344,010.50 17,819.88 326,190.62 7 2/15/2021 172,005.25 6,528.17 165,477.08 506,144.56 8 8/15/2021 172,005.25 4,919.73 167,085.52 339,059.04 2021 Totals 344,010.50 11,447.90 332,562.60 9 2/15/2022 172,005.25 3,295.66 168,709.59 170,349.45 10 8/15/2022 172,005.25 1,655.80 170,349.45 0.00 2022 Totals 344,01050 4,951.46 339,059.04 Grand Totals 1,720,052.50 88,052.50 1,632,000.00 : -1 W., -I 0 0 O O O h N 0 � cV O � tl7 tLi aN cV K'S �6 N �C mm+n mcMoo O (} h to Pr'1TN MNo m r� o M Cl 0 o h o 0 di C U W N 00 m O N 0 0 �lo o IL CTni lO ONO N M h N 00 O r co c] O cJ O C0 c7 O c1 eso oc�©©o© M M •- w- �- •- w- �- nnnn A I ` N ` N n cc! mcn in ap 'a 0-aaa-a c atey_ qy) n 1 yam_y ,yy Q tp y m GY Gl Ol (I5 CC K GC fL ulpapv 00 M 00 00 a 61 d� ZN = Z 3 Z Z aimai aimm Z Z Z Z Z Z C U � C W �' m U LL C O ¢ e C J N di caot Q. O > tLU a m Z_EUo E n E m O 3 Q m R r a W C CL =3 N m d m a W C6 yi W Q k •a m o. N h o c E o t di N C a. a8 c U N a " m rL m c aE o a ._ R. Cle a Q N L VI N E E E E. K O O y o 9S 93'9'9=,QEU a� �64 UJW IAIW �_ N c t`a Ca Q1 Uyy Uyy Uyy m d eyey �2 E qUqyy o 2UL'�ry. O1 o a o o 2 o� o a Qarlaaaaar60 0 0 0 0 0 0 0 0 44 444 444 u E 0 U- a + a � cc cc�cccc LL a L LL LL LL LL LL LL LL L F L t L F F�- 00 000000 00 000000 u ari a 000 0OVE E E E E E E E O t:v vuurt� ea m m m m m m m mmm 0 Q D 0 0❑ 0 o W 0 N m h a N W 5 to 0 U John Murphy From: John Murphy Sent: Tuesday, July 18, 2017 5:30 PM To: John Murphy Cc: Jennifer Hockenhull; Mary Wisniewski Subject: City of South Bend - Request for Lease Financing Attachments: 2017 Vehicle Equipment Lease #2 RFP.pdf 0 The City of South Bend, Indiana is interested in obtaining lease financing for vehicles and equipment in the amount of $1,632,000.00. Please note the attached request for proposals and attached equipment list. If you are interested in submitting a proposal, please reply by email no later than 2:00 p.m. on July 26, 2017. Thank you. Regards, John H. Murphy City of. South lend Dopartm ant of Administration & Financ,a 227 W, Jefferson Boulevard South Bend; IN 46601 Telephone No. (574) 235.7678 Fax No. (574)235-9928 Cell No. (574) 29.8-0348 John Murphy From: Tim Holmes <tim@public--finance.com> Sent: Wednesday, July 26, 2017 9:58 AM To: John Murphy Cc: Jennifer Hockenhull Subject: RE: City of South Bend - Request for Lease Financing Attachments: South Bend 2017B.doc; South Bend 2017E payment schedule.xlsx Importance: High PLEASE CONFIRM RECEIPT OF THIS PROPOSAL John, Attached is our proposal. This 2017 lease can be done as an additional schedule added to the lease from early this year. This will greatly reduce the paperwork required. We are still the endorsed leasing program for Accelerate Indiana Municipalities (Formerly IACT). We work forward to working with you and the City of South Bend again. TimothyJ Holmes tim@public-finance.com 317-736-7275 From: John Murphy[mailto:jmurphy@southbendin.gov] Sent: Tuesday, July 18, 2017 5:31 PM To: John Murphy <jmurphy@southbendin.gov> Cc: Jennifer Hockenhull <jhockenh@southbendin.gov>; Mary Wisniewski <mwisniew@southbendin.gov> Subject: City of South Bend - Request for Lease Financing All, The City of South Bend, Indiana is interested in obtaining lease financing for vehicles and equipment in the amount of $1,632,000.00. Please note the attached request for proposals and attached equipment list. If you are interested in submitting a proposal, please reply by email no later than 2:00 p.m. on July 26, 2017. Thank you. BOARD OF PUBLIC WORKS AGENDA ITEM REVIEW REQUEST FORM Date 8/2/17 Name John Murphy Department Adm & Fin BPW Date August 8, 2017 Phone Extension 7678 Legal ® Attorney Name Michael Schmidt Controller ® Controller review is required for all Contracts $5,000.00 or more and greater than one year in length per the City Purchasing Policy Purchasing ® George King Z Agreement U Contract U Proposal LJ Addendum ® Professional Services ❑ Resolution ❑ Bid Opening ❑ Bid Award ❑ Req. to Advertise ❑ Title Sheet ❑ Quote Opening ❑ Quote Award ❑ Change Order No. ❑ CIO & PCA No. ❑ PCA ❑ Ease/Encroach. ❑ Traffic Control n Other: Company or Vendor Name Public -finance com New Vendor ❑ Yes ❑ No ® If Yes, Approved by Purchasing MBEIWBE Contractor ❑ MBE ❑ WBE Project Name 2017 Vehicle and Equipment Lease Financing #2 Project Number None Funding Source Departmental Principal and Interest Budgets Account No. Variousq Amount $ $1,632,000 principal amount Terms of Contract Lease financing for vehicles and equipment in the amount of $1,632,000. 10 semi-annual payments. Interest rate of 1.944%. Lowest rate of six proposals received Purpose/Description Lease financing for vehicles and equpment ❑ Required Contractor's Certification Form Attached (Non - Collusion, Non -Discrimination, Non -Debarment, E-Verify, Iran, etc.) Amount of ❑ Increase $ ❑ Decrease $ Previous Amount $ Current Percent of Change: 0% New Amount $ 0 Total Percent of Change: 0% Dispersal After Approval Copy Original ❑ ❑ ❑ ❑ ❑ ❑