Bid Opportunities

Request for Proposals: Installment Financing – Vehicles and Radios

Description:
The Town of Duck is seeking proposals from interested lenders for installment financing for five new police vehicles, 27 mobile radios, 47 portable radios, and associated radio equipment.

The new vehicles include three replacement and two new patrol vehicles for our staff which is expanding by two positions. The new vehicles and replacement vehicles are planned purchases following our Town Council approved Capital Improvement Plan (CIP). We plan to purchase, as they become available from the manufacturer, current model year Ford Police Interceptor Utility AWD vehicles to match our current fleet.

Also in the CIP is a project to replace all of our soon to be outdated mobile and portable radios for the police and fire departments. In FY 2011 the Town purchased 800 MHz radios for the Police and Fire departments after the County switched radio systems in response to a federal mandate. This new purchase will ensure we are complaint with upcoming standards changes and allows the departments to standardize radios to reduce training time and to reduce the number of types of batteries we need to stock.

Financing Need:

Vehicles                 $238,623

Radios                   $406,273

Total                      $644,896

Terms:

3 years

Level Payment – Annual

First payment due one year from the first draw

No pre-payment penalty

 

We will likely take two “draws” on the total amount financed, one for the vehicles and the other for the radios as we are able to complete the purchases of these products.

Please include any applicable fees and an amortization schedule with your proposal.

Proposals must be received by Tuesday, July 27, 2021 at 5:00 p.m.  Proposals which do not adhere to the requested terms or are received after the deadline will be considered non-responsive.

A recommendation for financing will be presented to the Duck Town Council for approval at their regularly scheduled meeting on Wednesday, August 4, 2021.  The selected lender will be notified after approval has been granted. All questions regarding this request for proposals should be directed to Drew Havens at 252-255-1234 or dhavens@townofduck.com

Publication Date/Time: 7/1/2021 12:00 PM

Closing Date/Time: 7/27/2021 5:00 PM

Submit to: dhavens@townofduck.com
Contact Person: Drew Havens, Town Manager

Related Documents:
RFP: Installment Financing Proposals – Vehicles and Radios