Tax Exempt Lease - Purchase Financing

Description

The Atlantic County Utilities Authority (ACUA) is soliciting competitive bids for Tax Exempt Lease-Purchase Financing to fund the acquisition of essential capital equipment through a structured five-year financing arrangement. This procurement is conducted under the provisions of the New Jersey Local Public Contracts Law (N.J.S.A. 40A:11-1 et seq.) and N.J.A.C. 5:30-5.1 et seq., which govern lease-purchase agreements for public entities.The purpose of this solicitation is to secure the most cost-effective financing terms for a project deemed essential to the Authority’s operations in providing responsible, environmentally focused waste management services to Atlantic County. The ACUA seeks a bank-qualified, tax-exempt structure with semiannual interest payments and annual principal repayments, beginning March 1, 2027, and concluding March 1, 2031.The Authority is seeking tax-exempt lease purchase financing in the principal amount of $3,340,000. The successful bidder will provide a financing structure compliant with state and federal requirements, including private placement limitations, prepayment options, and escrow funding provisions. All bids will be evaluated based on the lowest overall borrowing cost to the Authority, inclusive of all related fees and expenses.