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Financing Request for Quotes
Bid/RFP Status:
Closed - no longer accepting bids and proposals
Bid/RFP Due Date:
Wednesday, December 7, 2022 - 4:00pm
UPDATE: Award is on Council Agenda for January 23, 2023
This is a request for a quote to finance several equipment purchases and capital projects within the City of Florence (City). It is estimated the City will need $13,634,000 over the next 18 months for its equipment purchases and to start and/or complete several capital projects.
The repayment of the loan/bond will be from several funds including the Street, Water, and Wastewater Funds. The request is for a maximum of $13,634,000 split between equipment and projects to be paid over ten (10) years for equipment and twenty (20) years for projects, with either semi‐annual or annual payments.
The City is requesting a quote for a $1,459,000 ten‐year term and a $8,675,000 20‐year term borrowing.
Within 18 months of this issue, the City will need and additional $3,500,000 to complete the Rhododendron Drive project and the UV System upgrade. The response must include all requirements of the lender, interest rates being charged, and all costs associated with the financing.
The RFQ packet must be submitted by December 7, 2022 to:
City of Florence Debt RFQ
Anne Baker, CPFO, MAcc
Administrative Services Director
250 Highway 101
Florence, OR 97439
If you have any questions regarding this request, you can contact me at anne.baker@ci.florence.or.us
Sincerely,
Anne Baker, CPFO, MAcc
Administrative Services Director
CC: File
https://www.ci.florence.or.us/rfps
