Government Financing Programs
State and city municipalities cannot effectively anticipate all budgetary requirements to upgrade or purchase equipment
for ongoing needs. But they do have a reliable and continual stream of revenues from taxes, which makes leasing the natural way for
them to acquire necessary equipment.
Benefits for Government Lessees
• Allows state and local governments to make payments over time rather than depleting the current year’s funds.
• Leases are usually not considered long term debt.
• Upgrades are an application away.
• Fixed monthly payments for the term of the lease.
• Using FirstCorp does not tie up vendor bank lines or the vendor’s credit.
Equipment Leased
New equipment only.
Examples include Fire Trucks, Police Cars, School Buses, Emergency Communications Systems, Computer Systems, Telecommunications Systems, Waste
and Recycling Equipment, Maintenance Equipment and others.
End-of-lease Options
A lease can be structured to provide several options to the lessee at the lease end, including:
• $1.00 Option to Purchase (tax-exempt rates).
• Return the equipment at the end of the period (non-tax-exempt rates).
• Fair Market Value (non-tax-exempt rates).
Structure
Fixed, level payments for the term of the lease.
The municipality may choose from monthly, quarterly, semi-annual, or annual payments. This decision usually conforms to the asset’s useful life.
Terms
24 to 84 months.
Pricing
Lease payments and rates are available by calling (888) 880-4131.
Markets
• State, county, and local governments.
• State universities and school districts.
• Fire, police, and water districts.
• Special districts and authorities.
