The Governmental Lease/Purchase Plan is for qualified* non-federal governmental agencies who desire special low interest rates and flexible finance terms. Please note that you may need voter approval as you would with local bond insurance.

Benefits:

  • Because the income that we receive is tax-exempt, we pass these savings into you through special low interest rates. In fact, the interest charge you pay is normally less than the total cost of issuing a bond.
  • 100% financing is available
  • For tax purposes, in most cases you claim the benefits of ownership – including depreciation and interest expense deductions.
  • Your contract may be cancelled without penalty (on the last day of the appropriations period) if funding is not approved for the following year.

Terms:

Length (new equipment): 1-7 Years
Length (used equipment): 1-5 Years
Length (used equipment): Monthly, quarterly, semi-annual, annual and variable payment plans
Non-appropriations Clause:                     May return equipment due to non-appropriation of funds.
100% Financing: Available to qualified customers

*Non-federal government agencies with taxing, condemnation or policy authority qualify for this special plan. City, county and state governments; public authorities; and school, park and water conservation districts are just a few of the various agencies that qualify.

 

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