Lompoc Unified School District Regular Board Meeting Agenda 2026-05-19
Energy Efficiency Lease Financing with Banc of America
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Description
The Board will consider a resolution to enter into a 20-year Equipment Lease Purchase Agreement with Banc of America Public Capital Corp to finance approximately $4.9 million in energy conservation projects. Lease payments will be funded from avoided electrical energy costs and partially prepaid by an anticipated IRS tax credit.
Contract Details
Contract Amount
$4,909,372 (estimated financed portion; 20-year lease at 4.9200%)
Vendor
BANC OF AMERICA PUBLIC CAPITAL CORP
Agency
Lompoc Unified, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
20-year equipment lease purchase; rate honored if closing occurs prior to May 31, 2026
Renewal Date
2046-05-31
Renewal Info
Single 20-year facilities financing contract under Government Code §4217.13 with no origination or bank counsel fee; no recurring renewal language stated.
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