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.
- 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.
|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.