States or political subdivisions of states—cities, towns, counties, school districts, special purpose districts (fire, parks, utility, water, etc.), hospitals, authorities, boards, and commissions—all qualify for tax-exempt municipal leases.
The Municipal Lease Process
Step 1: Once a decision has been made to present a project recommendation to the agency’s board/council, AFS prepares a resolution for consideration.
Step 2: After the resolution has been adopted, AFS prepares documents for signature and review by the lender.
Step 3: Upon receipt of the fully executed document set, AFS creates an escrow account from which proceeds are disbursed.
Sample Project Financing:
- Capital Cost $ 180,000
- Term 5 Years
- Annual Payment $ 43,619.30
- Payments Beginning up to 1 Yr. deferred
- Rates as low as 3.99%
The Value of ProjectDox ePlan Submission, Review and Tracking
- Using digital files drastically reduces paper consumption and the cost to manage and store paper documents.
- Citizens have access (24/7) to a secure, fast and convenient system to submit/resubmit plans. No need to drive to the building department, reducing traffic on the highways and greenhouse gas emissions.
- Centralizing plans and documents gives complete visibility to all departments – parallel review facilitates increased communication, accuracy and reduces/shortens re submission cycle(s).
- Streamlined processes means buildings are completed sooner and on tax records faster.
- Jurisdictions remain competitive, can better attract new commercial business.
- Automated workflow processes provide tools to measure departmental productivity, isolate problem areas.
- Online plan review allows for telecommuting, trip reductions for citizens and couriers, energy and environmental conservation.
- Standards-based inter-operability facilitates increased cross-departmental/ agency communication, mutual aid & speeds disaster response and recovery.
About Government Capital Corporation
Government Capital Corporation is a Public Finance investment bank providing professional financing services to government entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings.
Page 1 | Page 2