TOWNSHIP OF WARMINSTER
2017 GOLF GREENS EQUIPMENT LEASE
REQUEST FOR PROPOSALS
MARCH 17, 2017
The Township of Warminster is planning on acquiring new golf greens mowers through lease financing and is soliciting proposals for leasing. Please be advised that this will not be considered a “debt” obligation and will constitute a “lease” obligation with security for the lease being solely the greens mowers covered by the lease (exempt from borrowing requirements of the Local Government Unit Debt Act). The Township will assume ownership upon final payment and termination of the lease. The greens mowers are being acquired through the Commonwealth of Pennsylvania CO-STARS cooperative purchasing program. The lease financing is sought for the following:
I. GOLF GREENS MOWERS: Two (2) 2017 Toro Greensmaster 3320 (including 14 blade cutting units, narrow Wiehle rollers, LED light kit, armrest kit, wireless hour meter, and a two year warranty) with a Total price of $70,148.00. Term 3 years. Payments should not include sales tax as the Township of Warminster is sales tax exempt. All leases should have a One Dollar ($1.00) buy-out provision at the conclusion of the lease term. Repayment is to be on a quarterly basis. You may opt to propose based on payments in advance or payments in arrears.
All proposals must itemize any costs of issuance and interest cost. Please detail the method of calculation for interest, the annual percentage rate (APR), and the dollar amount of payments for the lease. Also, please provide copies of the lease document you propose so we may review it prior to entering into a lease agreement.
Proposals are due no later than Friday, April 7, 2017 at 10:00AM. Proposals should be addressed to Township of Warminster, ATTN: John Marcarelli, Director of Finance, 401 Gibson Avenue, Warminster, PA 18974. Electronic submissions will be accepted if email is timely and directed to Jmarcarelli@warminsterpa.org.
Financial information about the Township is available on the Township of Warminster website at http://warminstertownship.org/. The Warminster Township Board of Supervisors is expected to select a proposal for the 2017 Golf Greens Equipment Lease at its meeting of Thursday, April 20, 2017.