REQUEST FOR PROPOSALS FOR LESSOR SERVICES BY THE DEMAREST BOROUGH BOARD OF EDUCATION OF IN THE COUNTY OF BERGEN, NEW JERSEY FOR ITS LEASE-PURCHASE FINANCING PROJECT
Financing for a Federally Tax-Exempt School Facilities
Lease Purchase Not-To-Exceed $2,710,000
The Demarest Borough Board of Education in the County of Bergen, New Jersey (the “Board”) is seeking proposals for an entity to act as a lessor in connection with its proposed lease purchase transaction. The Board plans to undertake a capital improvement project, consisting of the construction and equipping of an addition at the County Road School (the “Project”) for an estimated cost of not to exceed $3,710,000, such cost to be funded by the Board through its undertaking of a lease-purchase financing in an amount not to exceed $2,710,000 and a portion of the costs of the Project to be funded through the Board’s capital reserves in an amount not to exceed $1,000,000. The lease purchase agreement will have a term not to exceed five (5) years.
Specifications regarding the financing plan may be obtained from the Financial Advisor, Sherry Tracey, Phoenix Advisors, LLC, 625 Farnsworth Avenue, Bordentown, New Jersey 08505, (609) 291-0130, email@example.com.
Proposals must be received by the Financial Advisor by Tuesday, August 3, 2021, at 2 p.m. at the addresses set forth above.
School Business Administrator