City Plans Ten-Year Finance Contract for Backhoe Loader
Town of SomersetCity · MD- Disclosed value
- 10 annual payments of $14,570.70 at 2.92% interest (equipment cost $124,800.00)
- From agenda
- Document date
- Oct 12, 2021
The 30-second brief
The City of Somerville intends to finance a 420 Backhoe Loader through Government Capital Corporation using a ten-year public property finance contract. The structure calls for ten annual payments of $14,570.70 at 2.92% interest under Resolution R21-013.
Government Capital Corporation holds this financial services contract with Town of Somerset. Its other public contracts on record include work for City of Bridgeport and City of San Benito.
Term as filed: 10 years, payments beginning one year from signing, annually thereafter.
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Contract details
- Contract type
- Financial Services
- Amount
- 10 annual payments of $14,570.70 at 2.92% interest (equipment cost $124,800.00)
- Document date
- October 12, 2021
- Term
- 10 years, payments beginning one year from signing, annually thereafter
- Agency
- Town of Somerset
- Source document
- city-of-somerset-agenda-2021-10-12_450.pdf (Agenda)
Government Capital Corporation's other public contracts
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Questions about this contract
Who was awarded the financial services contract by Town of Somerset?
Government Capital Corporation was awarded this financial services contract by Town of Somerset, as recorded on October 12, 2021. The contract value is 10 annual payments of $14,570.70 at 2.92% interest (equipment cost $124,800.00).
How much is the Government Capital Corporation contract with Town of Somerset worth?
The Government Capital Corporation contract with Town of Somerset is valued at 10 annual payments of $14,570.70 at 2.92% interest (equipment cost $124,800.00), covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in city-of-somerset-agenda-2021-10-12_450.pdf (Agenda), dated October 12, 2021 from Town of Somerset. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Government Capital Corporation hold?
Government Capital Corporation may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Town of Somerset currently buying?
Explore Town of Somerset's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.