Request for Proposals for Capital Lease Financing of Township Vehicles and Equipment (Contract #C-26-001)

The Township of Radnor, Pennsylvania is soliciting proposals from qualified financial institutions for tax-exempt, non-bank qualified capital lease financing of Public Works vehicles and equipment under Contract #C-26-001, with proposals due August 7, 2026. No set-aside restricts eligibility. MBEs, WBEs, and SBEs are encouraged to apply, and selected firms must comply with municipal, state, and federal Affirmative Action and Equal Employment Opportunity requirements.

The financing covers three new items: one Tandem Dump Truck ($273,522.00), one Sanitation Truck ($296,473.00), and one Mower ($145,211.99), for a total of $715,206.99. Respondents must submit proposals for three amortization terms, five years, seven years, and "maximum years," each with interest rates and annual level debt service schedules. The lease must include an escrow account that accrues interest for the Township's benefit, a non-appropriation clause allowing termination at the end of any term, and an early payoff provision with a minimum sixty-day notice period. Respondents must disclose early termination fees, initial commitment fees, and any expenses billable to the Township, and must supply escrow agreements, proof of insurance, and financial reporting requirements. The Township may increase or reduce the total financing amount by up to ten percent. Vehicle titles are held by the Township subject to the lender's rights, and the Township owns the vehicles at lease conclusion.

Award will be based on interest rates, terms, total repayment amount, and the Township's best-value determination. Proposed interest rates must remain valid for thirty days from the proposal submission date.

Questions must be submitted through PennBid's Public Q&A section by August 4, 2026, at 4:00 p.m. EST. Proposals are submitted electronically through PennBid by 9:00 a.m. EST on August 7, 2026. The tentative lease initiation date is September 11, 2026, with the first lease payment estimated for January 15, 2027, and annual payments thereafter.