Tax Exempt Lease - Purchase Financing

The Atlantic County Utilities Authority (ACUA) is soliciting competitive bids for Tax Exempt Lease-Purchase Financing to fund the acquisition of essential capital equipment through a structured five-year financing arrangement.

The Lease Purchase will have a five (5) year amortization structure, based on a 360 Day Year/30 Day Month, with principal to be repaid annually on March 1. The first principal payment shall commence on March 1, 2027, and shall mature as follows: March 1, 2027 - $668,000 [...] Total: $3,340,000.

Contract Term

The Lease Purchase will have a five (5) year amortization structure, based on a 360 Day Year/30 Day Month, with principal to be repaid annually on March 1. The first principal payment shall commence on March 1, 2027, and shall mature as follows:

| Date | Principal |
| --- | --- |
| March 1, 2027 | $668,000 |
| March 1, 2028 | $668,000 |
| March 1, 2029 | $668,000 |
| March 1, 2030 | $668,000 |
| March 1, 2031 | $668,000 |

Total: $3,340,000

Terms and Structure

Interest will be payable semiannually on March 1 and September 1, commencing March 1, 2027, in each year until termination of the Lease.

All respondents must include options/prices for prepayment of the Lease.

The Lease Purchase will be considered Bank Qualified.

All bidders must complete the attached bid sheet and provide an amortization schedule for the bid detailing payment number, principal balance, interest amount, principal amount and Purchase Option Penalty for each payment to the financing. All costs, including any escrow fees, must be included in the submission. The completed bid must be signed as an original copy.

The Authority reserves the right to fund the Lease Purchase into an interest-bearing escrow account. [...] Any additional fees or expenses of the Purchaser shall be disclosed and will be considered in the selection process.

Pursuant to N.J.A.C. 5:34-3.3, the successful respondent will be required to hold title to the Equipment during the term of the Lease. At the conclusion of the Lease Purchase Agreement Term, the Issuer will acquire unencumbered title to the Equipment for $1.00.

Submission

Bids must be submitted electronically via ACUA's e-Procurement Portal at https://procurement.opengov.com/portal/acua. Bids must be received before the designated time, **November 6, 2026, 11:00am**. All Required Bid Forms must be signed via DocuSign through ACUA's eProcurement Portal.

Evaluation

The award as a result of this bid will be to the bidder that submits the overall lowest borrowing cost to the Authority.

Bid security

All bidders must upload a PDF copy of both the Bid Bond and the Consent of Surety with their online bid submission. This is mandatory in every case.

Other requirements

In accordance with P.L. 2004, c.57, all bidders must be registered with the State of New Jersey, and the Authority must have a copy or a bidder must include a New Jersey Business Registration Certificate with the bidder's submission.

Bidders must submit a complete Ownership Disclosure Statement.

Rates will be held for a period of thirty (30) days from the date of board approval.

All questions relating to technical aspects of the bid are to be directed in writing to the Authority Procurement and Contracts Manager via the ACUA's eProcurement Portal. NO QUESTIONS WILL BE ANSWERED OVER THE PHONE OR VIA EMAIL.