Master Lease Purchase/3rd Party Financing

The Arizona Master Agreement CTR070048, awarded to Banc of America Public Capital Corp (BAPCC), is a comprehensive master lease purchase and third-party financing contract designed to support equipment procurement for state and local government agencies. The contract enables Arizona state departments, agencies, boards, and commissions to lease purchase equipment valued at $100,000 or more, including IT hardware, telecommunications equipment, office furniture, vehicles, mobile offices, and other government operational equipment. Financing is structured as tax-exempt lease/purchase transactions with firm, fixed interest rates, typically spanning five-year terms, and allows for monthly, quarterly, or yearly payment schedules.

The master agreement is administered by the Arizona Department of Transportation (ADOT) and was initially awarded on February 13, 2024, with subsequent amendments extending the contract through February 12, 2027. The contract covers the entire State of Arizona and is classified under multiple UNSPSC codes, including metal and mineral industries, industrial production, manufacturing services, and machinery and transport equipment manufacturing. BAPCC, a subsidiary of Bank of America, serves as the prime contractor, offering a flexible financing approach with no minimum transaction size and pricing based on the average weighted life SOFR index. The contract allows for multiple disbursements, prepayment options, and includes comprehensive provisions for documentation, insurance, and lease execution.