Date: August 7, 2023
Financing proposal for: City of Murrieta, CA
Motorola Customer Financing recognizes that each opportunity presents unique issues and characteristics. Therefore, our approach involves understanding our customer’s operational goals and financial objectives. Should you feel another financing structure is required, Motorola Customer Financing would welcome the opportunity to work with you.
Transaction Type: Municipal Lease-Purchase Agreement / Tax Exempt Financing Lessor: Motorola Solutions, Inc. (or its Assignee)
Lessee: City of Murrieta, CA
Amount: $1,060,054.74
Down Payment: $0.00
Balance to Finance: $1,060,054.74
Equipment: As per the Motorola Solutions equipment proposal.
Title, Insurance, & Title to the equipment will vest with the Lessee, and the Lessee will be Maintenance responsible to insure & maintain the equipment as outlined in the lease contract.
Taxes: Personal property, sales, leasing, use, stamp, or other taxes are for the account of the Lessee.
Option One Option Two
Lease Term: Five Years Five Years
Payment Frequency: Annual Annual
Lease Rate: 4.96% 5.29%
Lease Factor: 0.230719 0.221148
Lease Factor: 0.230719 0.221148
Lease Payment: $244,575.26 $234,428.54
Payment Structure: Arrears Advance
Payment Commencement:First payment due
one year after
contract execution.
First payment due
upon contract
execution.
Please be advised the rates above are indicative of current market conditions and should be used for INFORMATIONAL PURPOSES ONLY. The actual lease rates will be locked on a mutually agreed upon date closer to the actual order date and will reflect then-current market conditions.
Program Highlights: Lease Payments are subject to annual appropriation, so the Lessee DOES NOT pledge its full faith and credit.
Low, tax exempt financing interest rates…the most cost effective & convenient way for State & Locals to raise cash.
No pre-payment penalties provided payment is made in-full on a regularly scheduled lease payment date.
Eliminate miscellaneous financing costs associated with bonding…NO special counsel fees, underwriter's fees, origination costs, or reserve fund requirements.
Every dollar you borrow gets allocated towards your project.
Qualifications: Receipt of a properly executed documentation package.
The interest portion of the Lease Payments shall be excludable from the Lessor's gross income pursuant to Section 103 of the Internal Revenue Code.
Receipt of a copy of the last 2 year's audited financial statements and current year's budget from the Lessee.
This proposal should not be construed as a commitment to finance.
It is subject to final credit approval.
For questions concerning this quote, please contact:Sam Gainer Motorola Solutions Credit Company LLC
201-605-7206
[email protected]@motorolasolutions.com