Police Utility Interceptor 2023 Finance RFP

Village of New Concord 2 West Main Street Post Office Box 10 New Concord, Ohio 43762-0010 (740) 826-7671 * Fax (740) 826-7617 www.newconcord-oh.gov Jennifer Lyle Rick Giroux Mayor Village Administrator To: Public From: Lynn Marlatt, Fiscal Officer Date: August 15, 2023 The Village of New Concord will accept proposals until August 30, 2023, at 10:00 a.m. for a tax-exempt lease purchase agreement to finance 2023 Ford Police Utility Interceptor (quote attached). The details are as follows: Amount: $58,000 Funding Date: September 12, 2023 Term: 3-year term - Equal Annual Payment – Interest and Principal First Payment: September 2024 Final Payment/Buyout: September 2026 Proposals shall include the following: ✓ Interest Rate ✓ Amortization schedule listing annual payment including interest and principal amounts for each year – Annual payments shall be made according to this schedule and shall not change for the term of the lease without prior approval of the Village. ✓ Lease Documents – All proposals shall indicate whether the bank will require bond counsel. The Ohio Revised Code does not require the Village to use bond counsel for lease purchases. ✓ All other fees including legal fees – Fees not listed will not be paid by the Village. The Village reserves the right to waive informalities or irregularities and to accept or reject any or all proposals or take any action in the interest of the Village of New Concord. For addition information please contact Lynn Marlatt, Fiscal Officer at 740-826-7671 or email lmarlatt@newconcord-oh.gov. This institution is an equal opportunity