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Home My WebLink AboutLease Financing Proposal 05/21/2025 GVS COURTq c o: A Kevin Madok, CPA - �o ........ � Clerk of the Circuit Court& Comptroller Monroe County, Florida �z cooN DATE: May 23, 2025 TO: Cheri Tamborski Emergency Services Mayor Bruce Halle Fire & Ambulance District 1 Board of Governors FROM: Liz Yongue, Deputy Clerk SUBJECT: May 21, 2025 BOCC Meeting The following item has been executed and added to the record: C29/H3 BOCC Resolution 188-2025 and BOG Resolution 194-2025 waiving the Monroe County Purchasing Policy Manual in order to procure two (2) Fouts Fire FB-94 Pumpers, one (1) Fouts Fire/Freightliner 3,000 Gallon Water Tanker/Tender and one (1) Fouts Fire/Kenworth 3,000 Gallon Water Tanker/Tender for Monroe County Fire Rescue (MCFR) and authorize: 1)the execution of Vehicle Purchase Agreement with South Florida Emergency Vehicles, LLC per NPPGov Contract 4 PS20225; 2) the execution of the Lease Financing Proposal jointly prepared by Leasing 2, Inc. (as lessor) and South Florida Emergency Vehicles, LLC (as distributor); 3)the execution of the Lease-Purchase Agreement with Leasing 2, Inc.; and 4) the execution the Escrow Agreement upon designation of an approved escrow agent. This purchase is being financed over a three (3)-year term in the amount of$1,056,606.54 per year, for an aggregate total of$3,169,819.62. MCFR is also requesting delegation of authority to the County Administrator, and certain county officials to execute the aforementioned documents, as well as any associated documents, subject to review for legal form and sufficiency by the County Attorney, or designee. Should you have any questions, please feel free to contact me at(305) 292-3550. cc: County Attorney_ Finance File KEY WEST MARATHON PLANTATION KEY 500 Whitehead Street 3117 Overseas Highway 88770 Overseas Highway Key West, Florida 33040 Marathon, Florida 33050 Plantation Key, Florida 33070 LEASE FINANCING PROPOSAL Reauested by South Florida Emergency Vehicles, LLC Levi Leyland Representing Presented To(As Lessee) Monroe County, FL Proposal Date: May 5,2025 Equipment Description: (2)Fouts Custom Chassis Pumpers(1)Fouts(Freightliner)3000 Gallon Tender and(1) Fouts(Kenworth)3000 Gallon Tender Commencement Date: May 25,2025 Option 1 Equipment Cost: $2,863,746.43 Lessee Down Payment: Amount Financed: $2,863,746.43 Lease Term: 3 Years Furst Playment Date„ 5/25/26 Payment Frequency: Annual Interest Rate: 5.25% Payment Amount: $1,056,606.54 Qualifications: 1.Pricincr This is a lease proposal for the payment stream(s)indicated above. If any of the information identified above are not correct,please advise us so that we can determine if a new proposal is required. Other important elements of this proposal are: a)Rate Expiration: Signing this proposal does not in itself lock in your rate. This lease must be credit approved,contracts properly signed, and the lease funded by Leasing 2 by June 25,2025. b)Closing Costs: There will be no up-front costs of any kind charged by Lessor including closing costs,points,administrative costs,etc. Your attorney may charge you to review the lease documents and complete the opinion letter required with our lease documentation. c)Fixed Rates: Rates are fixed for the entire term. 2.Type of Lease: This is a lease-purchase type of financing. After all the lease payments are made,Lessee will own the equipment without further cost. 3. Financial Reporting: All city,county and tax districts(including fire districts)will be expected to provide GAAP audited financial reports. All non-for profit corporations(vfd's)will be expected to provide IRS 990 federal tax returns. If you do not maintain these types of financial reports,please contact us to discuss. 4. Vendor Payable/Escrow Account(where applicable): In the event that the truck(s)and/or equipment are not ready to be delivered,proceeds of this lease will be held in a vendor payable account until delivery/acceptance. This is a non-interest bearing account to Lessee. 5. Credit Approval and Documentation:This is a proposal only,and does not represent a commitment to lease. This financing is subject to credit review and approval and execution of mutually acceptable documentation,including the opinion of lessee's counsel opining that the agreement is legal, valid and binding,obligation of Lessee. Financing by: Leasing 2, Inc. Contact: Brad Jr. Meyers Phone: 813-258-9888 x18 Email: bradjr@leasing2.com Web: www.firetruckleasing.com REQUEST TO PROCEED: When you are ready to proceed with Leasing 2 towards finalizing this lease financing arrangement,please indicate so by signing below and completing the requested information. We will immediately email you our application.'Thank you for your confidence and consideration. Proposal date: May 5,2025 ; Option Chosen: (where applicable) Upcoming Governing Body meeting date for lease approval: Monroe County, FL me of Lessee May . 0 lik a 1 My a or arized Signature.. Date. Title James K. Scholl Approved as to legal form and sufficiency: Printed Name Of Authorized Signature Last month of your budget year? Eve M.Lewis.''''''"oz'" "z: Eve M.Lewis,Asst.Cnty Attny Contact Name Contact'Phone. Contact Email (If Different ThanAuthorized Signature) Financial Contact Name Contact Phone Contact Email (Can be Treasurer or.Clerk) (, in;: Cr Pte se complete the above information and fax or email all pages ot,the.proposal to ., c.), cts - 813-258 9333/info leasing2`corm , {pq ,< x ;f 'G.. intir..;rr�,;,..� E'�G:� ,' '- `k �4.'fit. 'ix.. . .�."` ,�` � -� sue: � t,.S r' n �:.�(,cal, kF! esj *E 1 i ,, ::.1 �� 1�, .-.ttos K9.yin Madok,Clerk Mat O.' f 7 i I f �' +�k.r♦ ,:� �,G.�C ,,�J��.� y Lp`�',']Ty� _ y�'- �,}�a-��"M••�'C�t� a1� � p4 'n BUS/MEN i Y 7�.d r t's fr .!:. 2 r_� r� uisi pr- ��Mw 'k 4 ��... ram.;, "3, ,,,, �,..y i .....-� �' �3 f`+.r yJ FJ : V t+anYEARs .ersot1t T ikt.li.6. .1 i:., . ?naA,,Deputy Clerk LEASING c;OVE N MrI,�f-r4�:r,:'s ) ;'/,� >d,;. . LI.. g; r.' ,-::-,,L-z:::,-----,_,___2_--,,.-'.'z,,,v,:-:--,;'r ** Important: A Resolution will be required with the lease contract** In the event that you require board action to sign this proposal, please call us so that we may forward the preferred form for the meeting. Are you ready to move forward with Leasing 2? is quick overview Here a qu c overt/ vlr of our process 1. Signed Proposal-When you are ready to move forward with Leasing 2, email'a scan of the completed and signed proposal back to Leasing 2. 2. Credit Application-A credit application and request for current financial reports will be emailed to the designated contacts upon receipt of the signed proposal. The credit application should be completed and returned promptly to protect your quoted interest rates. Credit approval usually comes within a few days receipt of the completed credit application. 3. Financing Agreement-Once credit approval is accomplished, the financing agreement will be emailed for review and signature. Once the contracts are..signed and returned, we are ready for closing.