The purpose of this Requestfor Proposal (“RFP”) isto identify qualified firmsto enter into a capital lease agreement (the “Lease”) with City of Rockford for the financing of various improvements. The City desires to finance certain capital improvement projects through a capital lease agreement. All payments by the City under the lease agreement will be subject to annual appropriation by the City Council, and the lease agreement will not constitute an indebtedness of the City within the meaning of any constitutional or statutory provision or limitation. Borrowed amounts will vary annually, based on planned equipment replacements, and have historically ranged from $1.5 million to $ 16 million (see Attachment A for most recent lease amounts).
