Laserfiche WebLink
Government Leasing and Finance, Inc. <br /> March 7,2023 <br /> City of San Marcos <br /> At your request,U.S.Bancorp Government Leasing and Finance,Inc.("USBGLF")has prepared for your consideration the <br /> following proposal for financing("Proposal"). This is only a proposal and does not represent a commitment by U.S. Bancorp <br /> Government Leasing and Finance,Inc. <br /> Lessor: U.S.Bancorp Government Leasing and Finance,Inc. <br /> Lessee: City of San Allarcos <br /> Equipment: Water Distribution Equipment <br /> Expiration: May 6,2023 <br /> Proposed Structure and Payment Options: <br /> Cost Interest Rate Payment Pmts/Yr Term Adv Arr <br /> 691,941.76 4,82% 253,230.41 1 3 Years Arr <br /> 691,941.76 4.73% 158,630.13 1 5 Years Art- <br /> 691,941.76 4.74% 118,456.96 1 7 Years Arr <br /> Notes: There are no fees associated with this offer,including a U.S.Bank,N.A.escrow account. Prepayment is permitted after 13 <br /> months at 103%of remaining principal. <br /> The Lease will be structured as a tax-exempt municipal lease,with title in the Lessee's name and USBGLF holding a security <br /> interest in the equipment during the term. The lease is"triple-net"with the Lessee responsible for taxes,maintenance and <br /> insurance. Documentation will be provided by USBGLF, including(i)standard representations,warranties and covenants by the <br /> Lessee pertaining to the accuracy of information,organization,authority,essential use,compliance with laws,pending legal <br /> action,location and use of collateral,insurance,financial reporting and financial covenants;and(ii)standard USBGLF provisions <br /> pertaining to events of default and remedies available upon default. This offer is subject to the execution of all documentation by <br /> the Lessee within a reasonable time and in form and substance acceptable to Lessee,USBGLF and USBGLF's counsel,including <br /> terms and conditions not outlined in this Proposal. <br /> This Proposal is conditioned on there being no material adverse change in the financial condition of the Lessee. Additionally,the <br /> terms and conditions outlined herein are subject to final review and approval(including collateral and essential use review)by <br /> USBGLF's business,legal,credit,and equipment risk management personnel. <br /> Sincerely, <br /> Task,2 -PPrrep�t <br /> Tasha Barreau <br /> Vice President <br /> P: 303.330.4160 <br /> Email:taslia.barreau(aLUsbank.com <br /> 0 <br /> Qrb0%MftE,W <br />