Leasing Options:

We would like to introduce you to our Tax-Exempt Municipal Lease Financing Program. With the increasing demand for services, public agencies have embraced tax-exempt leasing as an alternative means of acquiring needed equipment, real property and facilities construction or upgrade.

Municipalities may leverage annually appropriated funds from their budget by three or four times the annual amount available. They may, for example, turn an annual $100,000.00 budget appropriation into a $300,000.00 or $400,000.00 equipment acquisition by borrowing at tax-exempt rates. These loans may be paid off early or re-financed in a forthcoming bond issue

The process begins with you defining for us your need. It can be any essential equipment, project or real property. You decide what and how much it costs, and we stay out of the way. We interface rather than interfere in that process.

During the next stage, we offer a finance quote based on the cost, term and expected delivery date of the equipment. Upon acceptance of our quote, documents are prepared for your review and signature. Commencement of the lease begins once the equipment is delivered and accepted.

While this process is technically referred to as "Tax-Exempt Lease/Purchase" financing, it is in reality a series of one year installment sale payments (including non-appropriations language in the contract), renewable each year for the duration of the payback period. Lease contracts may amortize over 2 to 10 years for equipment and 15 years, or longer, for real property.

To the municipality, this means:

• Retention of your borrowing capacity (A Lease does not contribute to your debt ceiling)
• Fully amortized payment schedule with no balloon payments at the end.
• Additional benefits as defined in the following pages.

Equipment Covenant Turf Leases:

• Bleachers
• Lockers
• Athletic Field Lighting
• Scoreboards
• Sound Systems

...And, of course, Covenant Turf Synthetic Grass Athletic Fields!!