Specifications include, but are not limited to: 3.1 Goal A. The City of Little Rock Finance is seeking to secure short term financing in the amount of $7,400,000 for the acquisition of police vehicles for the Little Rock Police Department. 3.2 Terms of Award This bid shall be awarded, on an all or none basis, to the lowest qualified bidder who meets all specified requirements, and who has the absolute capability to provide the required services. Responses to this bid solicitation will be used by Finance to determine if the vendor has the appropriate experience, licensures, and qualifications to be considered for the project. Vendor(s) shall submit unconditional bids specifying the rate of interest at which the bidder will purchase the entire principal amount of the Note at par. Vendor(s) shall include all pricing on attachment “Bid 1898 - Attachment B - Promissory Note - Official Price Sheet – EXHIBIT A.” The Note, subject to the reservations set forth in Section 4.5 hereof, will be sold to the bidder offering to purchase the same at the lowest interest cost. It is anticipated that the proceeds of the Note will be required to be advanced within 10 business days of award of the bid. 3.3 Outcomes Desired The desired outcome of this ITB is to secure short-term financing in the amount of $7,400,000 for the acquisition of police vehicles for the Little Rock Police Department, as indicated within this solicitation and all other supplementary documentation included herein or provided by supplementary documentation.
