Master Lease Purchase/3rd Party Financing

The Arizona Master Agreement CTR070049 is a statewide Indefinite Delivery Vehicle (IDV) that provides comprehensive third-party financing for personal property acquisitions across state departments, agencies, boards, and commissions. The contract enables state entities to finance equipment purchases of $100,000 or more through lease-purchase mechanisms, with flexible lease terms ranging from one to five years. Eligible items include IT hardware, telecommunications equipment, office furniture, vehicles, mobile offices, and other government operational equipment. The financing is structured as tax-exempt lease/purchase transactions with firm, fixed interest rates, allowing agencies to request rates for monthly, quarterly, or yearly payments with competitive bidding requirements for individual leases.

The master agreement is awarded to US Bancorp Government Leasing and Finance Inc., headquartered in Minneapolis, Minnesota, and was initially established through solicitation number BPM005717. The contract's current period of performance runs from February 13, 2024, to February 12, 2025, with potential extensions through amendments. Geographically, the IDV covers the State of Arizona and is classified as a Master Agreement contract type. US Bancorp offers strong financial ratings, including A3 from Moody's, A from Standard & Poor's, and A from Fitch, with no individual or aggregate transaction size limits and a minimum transaction size of $50,000. The contract is non-exclusive, allowing the state to obtain similar services from other sources when necessary.