Bank Loan / Equipment Lease Purchase Agreement

The City of New Smyrna Beach, Florida (the “City”) is seeking proposals from qualified financial institutions to provide a bank qualified, tax-exempt 10-year fixed rate Capital Improvement Revenue Note, Series 2023 (the “Note”) (or, alternatively, through a Lease Purchase Agreement with related schedule(s) (the “Lease Purchase Agreement”), at the lowest overall borrowing cost, pursuant to certain conditions. The City shall accept and review proposals from qualified banking institutions. Proposals for the Note or Lease Purchase Agreement should be submitted based upon the financing structure below. The City will select the institution financing that provides the lowest overall borrowing cost to the City and meets the financing requirements of the City. Hilltop Securities Inc. (“HilltopSecurities”), Orlando, Florida, as the City’s Financial Advisor, will be assisting the City with respect to the Note or Lease Purchase Agreement. For purposes of this Request for Proposal (“RFP”), the Note or Lease Purchase Agreement is referred to as the “Loan”. The proceeds of the Loan will be used to finance a portion of the purchase of certain fire trucks and related equipment for the City at an estimated total cost of $3,300,000.