1-C-26-001 - RFP for Capital Lease Financing - PW Vehicles.pdf

JIM RILEY Ward 4 President

MAGGY MYERS Ward 2 Vice President

JACK LARKIN, ESQ. Ward 1 CATHY AGNEW, ESQ. Ward 3

MOIRA MULRONEY, ESQ. Ward 5 HOWARD CHILDS Ward 6

JAMES COATES Ward 7

RADNOR TOWNSHIP

301 IVEN AVENUE

WAYNE, PENNSYLVANIA 19087-5297

Phone (610) 688-5600

Fax (610) 688-1279 www.radnor.com

WILLIAM M. WHITE

Township Manager Township Secretary

JOHN B. RICE, ESQ.

Solicitor

ROB ARMSTRONG

Treasurer

REQUEST FOR PROPOSAL

RADNOR TOWNSHIP, PENNSYLVANIA

CAPITAL LEASE FINANCING OF TOWNSHIP VEHICLES AND EQUIPMENT

Contract #C-26-001 July 28, 2026 The Township of Radnor (“Township”) is soliciting proposals for the financing of Public Works Department Vehicles as follows:

VEHICLE/EQUIPMENT COST One (1) (new) “Tandem Dump Truck” $ 273,522.00 One (1) (new) “Sanitation Truck” $ 296,473.00 One (1) (new) “Mower” $ 145,211.99

GRAND TOTAL $ 715,206.99

• Initiation of the Lease –The initiation of the lease will occur on September 11, 2026 or shortly thereafter; then upon delivery of vehicles and equipment.

• Term of Lease Option – Bidder must propose lease payments for five (5), seven (7), and maximum years.

• Escrow – The Vehicles were ordered with estimated delivery dates between Q3 2026. Please include in your proposal how your firm intends to work with the Township to meet this schedule.

• Taxes – The Township is a tax-exempt entity and consequently shall not pay any taxes on leased Vehicles and Equipment.

• This is a Non-bank qualified borrowing.

• Non-Appropriation Clause – In the event that sufficient funds shall not be appropriated by the Township, the Township may terminate this agreement at the end of the current term.

• Option to Purchase – Upon giving at least sixty (60) days’ notice, the Township has the option to pay the balance. Also, at the conclusion of the lease term, the Township will own the vehicles and equipment.

• Payment Plan – The Township shall make one (1) payment per year beginning approximately three (3) months from the date of the acceptance of the last piece of vehicles and equipment. The date of first payment is estimated to be January 15, 2027. Bids must contain a repayment schedule including percentage rate(s) and total interest to be paid, plus a year end buy out cost option. The Township will award the contract based on rate, terms, total repayment and what the Township deems to be in its best interest. Respondents are to submit their bid proposal on their own form, and proposals should be clearly labeled “RFP for Capital Lease Financing of Township Vehicles and Equipment

(Contract #C-26-001)”. The selected firm must meet all municipal, state and federal Affirmative Action and Equal Employment Opportunity practices and requirements. MBEs/WBEs/SBEs are encouraged to apply. The Township reserves the right to reject any or all proposals in whole or part, to award any one service or group of services or all services, to negotiate with any or all companies submitting proposals, and to enter into an agreement with any company for any services mentioned in this RFP; if it is deemed to be in the best interest of the Township. Proposals must be submitted/uploaded using the online Bid Form on (https://Pennbid.net) until 9:00 a.m. EST on Friday, August 7, 2026. All other forms of proposal submissions will not be accepted. Proposals may be updated or withdrawn any time prior to 9:00 a.m. EST on Friday, August 7, 2026. All questions regarding the RFP must be submitted using the online form on PennBid (https://Pennbid.net) in the Messages section and by clicking on the “Public Q&A” tab. Questions may be submitted until Tuesday, August 4, 2026, 4:00 PM EST. Answers will be emailed to the bidder’s email address(s) registered on PennBid. Questions and answers will also be posted to the PennBid website for all bidders to review. Only questions asked and answered using this process shall be considered addenda to the RFP.

Contract #C-26-001– Friday, August 7, 2026 - 9:00 AM EST

REQUEST FOR PROPOSAL

TOWNSHIP OF RADNOR, PENNSYLVANIA

CAPITAL LEASE FINANCING OF TOWNSHIP VEHICLES AND

EQUIPMENT

SCOPE The purpose of this Request for Proposal (“RFP”) is to solicit proposals from qualified financial institutions to enter into a tax-exempt capital lease agreement (the “Lease”) with the Township of Radnor (“Township”) for the financing of various capital purchases. The proposed capital purchases include Vehicles for the Department of Public Works (see Schedule A-1). The estimated cost for the authorized items is approximately $715,206.99. This financing is to be a non-bank qualified borrowing. The Township invites interested parties to submit a proposal to finance the capital items giving your lowest available rate of interest and other conditions of such financing. The Township retains the option to increase or reduce the total amount to be financed by up to 10%. Titles to the Vehicles will be in the name of the Township subject to the bidder’s rights under the Lease. The Lease will be designated as a tax-exempt obligation. The term of the Lease will be: five (5), seven (7) years or maximum years as specified in Schedule A-2; and an annual payment of principal and interest, at level debt service for the specified term. Indicate for each loan phase: Applicable interest rate for loan amount for each of the three amortization schedules. In addition, the Township will entertain an Alternate Proposal from respondents, designed to conserve costs. If an Alternate Proposal is submitted, the Township will not entertain alternates unless the proposal includes options for terms of five (5), seven (7) years or maximum years. Anticipated closing date on Lease: September 11, 2026.

BID SPECIFICATIONS

1. The Financing Company shall make a proposal to include that all interest rates are valid for thirty (30) days from the proposal date.

2. The proposal is based on a tentative closing date of September 11, 2026. For purposes of this proposal, the first payment would be due to the company on January 15, 2027, and annually thereafter, at level debt service for the specified term.

3. The Financing Company shall establish an escrow account for the placement of the funds. That escrow account shall accrue interest to the benefit of the Township.

4. There shall be a non-appropriation clause which would give the Township the option to terminate the agreement at the end of the current term, in the event that sufficient funds are not appropriated.

5. The financing is a non-bank qualified borrowing; and tax exempt qualification.

6. Respondents to this RFP are advised to review Schedules A-1 through B.

7. Utilizing bidder’s own form, the proposal shall include a one page amortization summary for financing based on a five (5) year term, plus a year end buy out cost option, for the “Tandem Dump Truck”, “Sanitation Truck”, and “Mower”.

8. Utilizing bidder’s own form, the proposal shall include a one page amortization summary for financing based on a seven (7) year term, plus a year end buy out cost option, for the “Tandem Dump Truck”, “Sanitation Truck”, and “Mower”.

9. Utilizing bidder’s own form, the proposal shall include a one page amortization summary for financing based on a maximum year term, plus a year end buy out cost option, for the “Tandem Dump Truck”, “Sanitation Truck”, and “Mower”.

10. Lease Agreement shall include an early payoff provision, whereas, upon giving a minimum of sixty (60) days’ notice, the Township has the option to pay the balance of the Lease; the Lease Agreement shall also disclose early termination fees (if any).

11. Proposal is to provide all Terms and Conditions of the Lease.

12. Proposal is to disclose initial commitment fee at closing (if any).

13. Proposal is to disclose all other expenses billable to the Township (if any).

14. Proposal is to disclose any financial reporting requirements of the Township.

15. Please submit one (1) electronic copy of bid proposal.

16. The Township will award the contract based on rate, terms, total repayment and what the Township deems to be in its best interest.

17. Alternate Proposal – In addition, the Township will entertain an Alternate Proposal for a Master Leasing Agreement.

CONTENTS OF PROPOSAL: Inclusive of the “Bid Specification” criteria, the following items must be included in your proposal and packaged; and clearly marked with the Firm’s Name and Address and “RFP for Capital Lease Financing of Township Vehicles and Equipment (Contract #C-26- 001)”.

A. Respondent’s Contact Information This section shall contain the name of the contact person, the address, the telephone number, and the contact’s email address of the firm submitting the proposal.

B. Professional Experience This section shall contain all pertinent information relating to Respondent’s organization and experience that would substantiate its qualifications and capabilities to satisfy the requirements of the RFP. Proposals should provide a straightforward, concise description of the Respondent’s company, certifications, licenses, and experience with municipal capital lease agreements.

C. Original copies of all documents required to execute the financing Respondents are required to submit their proposals with copies of all documentation required to execute financing. This includes, but is not limited to, all standard lease documents, Vehicles schedules, escrow agreements, proof of insurance, municipal guarantees, upfront payment requirements, and any security deposit requirements.

D. One (1) electronic copy of each Respondent’s complete proposal package submitted/uploaded using the online Bid Form on PennBid (pennbid.procureware.com)

QUESTIONS & ANSWERS

Firms interested in responding to the RFP are specifically directed NOT to contact any employees or officials of the Township other than those specifically designated in this RFP. Unauthorized contact may be cause for rejection of proposals at the Township’s sole and absolute discretion. All questions regarding the RFP must be submitted using the online form on PennBid (https://Pennbid.net) in the Messages section and by clicking on the “Public Q&A” tab. Questions may be submitted until Tuesday, August 4, 2026, 4:00 PM EST. Answers will be emailed to the bidder’s email address(s) registered on PennBid. Questions and answers will also be posted to the PennBid website for all bidders to review. Only questions asked and answered using this process shall be considered addenda to the RFP. The Township’s Annual Comprehensive Financial Report for the most recent year ended December 31, 2024 can be found on the Township’s website:

https://www.radnor.com/government/departments/finance/financial-reporting/comprehensive-annual-financial-reports-cafr

SCHEDULE A-1 – Capital Item Description and Estimate

Quantity

Item Description / Year / Make / Model

Amount

1 Public Works Department “Tandem Dump Truck” New $ 273,522.00 1 Public Works Department “Sanitation Truck” New $ 296,473.00 1 Public Works Department “Mower” New $ 145,211.99 GRAND TOTAL: $ 715,206.99

SCHEDULE A-2 – Capital Item Lease Term and Vendor

Quantity

Item Description / Year / Make / Model

Amount

Lease Term

Vendor

1 Public Works Department “Tandem Dump Truck” / 2027 Peterbilt Chassis/ Beau-Roc Dump Body $ 273,522.00 5-years, 7-years, or max. years G.L. Sayre/ Intercon Truck Equip.

1 Public Works Department “Sanitation Truck” / 2027 Peterbilt Chassis/ Leach Refuse Body $ 296,473.00 G.L. Sayre/ Granturk 1 Public Works Department “Mower” / Toro Groundmaster 5900 $ 145,211.99 Turf Equip.

GRAND TOTAL: $ 715,206.99

TERM SHEET TAX-EXEMPT CAPITAL LEASE PURCHASE TRANSACTION FOR TOWNSHIP OF RADNOR For Fiscal Year 2026 This term sheet is a summary of the terms for this financing and is not intended to be a complete description. Please refer to information provided in this RFP and its Schedules for additional information.

Schedule B

Lessee: Township of Radnor Total Transaction Size: $ 715,206.99 * Structure: Tax-Exempt Capital Lease Non-Appropriation Clause Level Debt Service Method of Sale: Non-Bank Qualified Term: 5-year terms; 7-year terms; or maximum-year terms Security: The vehicles and equipment Use of Proceeds The proceeds will be used to finance capital purchases such as Public Works Department “Tandem Dump Truck”, “Sanitation Truck”, “Leaf Vac”, “Tandem Dump Truck”, “Sanitation Truck”, and “Mower” Evaluation The selected firm must meet all municipal, state and federal Affirmative Action and Equal Employment Opportunity practices and requirements. MBEs/WBEs/SBEs are encouraged to apply. The Township reserves the right to reject any or all proposals in whole or part, to award any one service or group of services or all services, to negotiate with any or all companies submitting proposals, and to enter into an agreement with any company for any services mentioned in this RFP; if it is deemed to be in the best interest of the Township. *Subject to change