CITY OF MINERAL WELLS | REQUEST FOR PROPOSALS
Issue Date
Questions
Delivery
REQUEST FOR PROPOSALS
RFP 2026-009 | Vehicle and Equipment Lease-Purchase Financing
August 10, 2026
Aaron Bovos | abovos@mineralwellstx.gov
City Finance, 211 S.W. 1st Avenue, Mineral Wells, TX
76067
Proposal Due
Opening
Format
September 18, 2026, 2:00 p.m. CT
September 18, 2026, 2:30 p.m. CT
Sealed package; one PDF copy on USB
1. Purpose and Financing Request
The City of Mineral Wells, Texas (City) requests proposals from qualified financial institutions for tax-exempt, fixed-rate lease-
purchase financing of the vehicles and equipment below. The City intends to select the responsive proposal offering the best value
and may negotiate final documents with the selected proposer.
Asset
Estimated Cost
Requested Term
Mid size excavator w/ thumb
$237,966.00
7 years
Breaker-Hamer
$29,319.00
7 years
36’ Mulcher
$23,272.00
7 years
Compact Track Loader
$101,473.00
7 years
Mulcher II
$30,968.00
7 years
Heavy equipment transport trailer
$50,100.00
7 years
2 ton crew cab truck
$81,500.00
7 years
Estimated total
$554,598.00
Combined amortization
Actual purchase costs may vary; financing will equal the final documented purchase price. The City may request reimbursement for
eligible purchases completed before closing. Proposers should state the earliest available closing/funding date and the period for
which the quoted rate is guaranteed.
2. Required Financing Terms
• Tax-exempt, bank-qualified lease-purchase structure, subject to applicable federal tax law and final legal review.
• Fixed interest rate for the full term; quote APR and lease-rate factor separately for each asset.
• Equal semiannual payments in arrears, with the first payment date established at closing.
• City payment obligations subject to annual appropriation; documents must include customary non-appropriation and termination
provisions.
• Legal letter stating debt is eligible to be paid from the City’s debt service / I & S fund.
• The City will insure, operate, and maintain the assets.
• Right to prepay without penalty upon reasonable notice. Also quote any lower-rate alternative with a delayed or restricted
prepayment right.
• No assignment or transfer without the City’s prior written consent.
• Disclose every origination, documentation, escrow, investment, counsel, closing, or other fee. Undisclosed fees will not be
payable.
• Funding must equal the documented purchase price; no overfunding or underfunding. State the proposed closing method and
any escrow requirements.
3. Proposal Content
Submit a concise response containing the following, in this order:
• Signed cover letter identifying the authorized representative and confirming the proposal remains valid for at least 120 days
after the due date.
• Financing proposal for the total to be financed: fixed APR, payment amount, earliest funding date, prepayment terms,
security/filing requirements, closing method, and all fees.
• Complete amortization schedule for financing proposal showing payment date, total payment, principal, interest, outstanding
balance, and payoff amount, plus total interest and total cost over the term.
• Brief firm qualifications and experience with Texas municipal lease-purchase financing; primary contact; and at least three
comparable governmental references.
• Disclosure of any exceptions, assumptions, tax-law conditions, or legal/compliance actions related to public-sector financing
during the preceding five years. If none, state so.
• Completed Form CIQ when required by Texas Local Government Code Chapter 176.
RFP 2026-009 • Vehicle and Equipment Financing • 1
CITY OF MINERAL WELLS | REQUEST FOR PROPOSALS
4. Evaluation and Award
The City will evaluate responsive proposals using the following weighted criteria and may request clarification, interviews, or a best-
and-final offer:
Evaluation Factor
Points
Total financing cost, rate, fees, and prepayment value
60
Compliance with requested structure and contract terms
20
Municipal financing experience, qualifications, and references
15
Funding readiness, service, and administrative capabilities
5
TOTAL
100
5. Solicitation Conditions
• Late, faxed, emailed, or paper-only proposals will not be accepted. The outer package must state: “RFP 2026-009 — Vehicle
and Equipment Financing.”
• Written questions are due to the contact above by 2:00 p.m. CT, September 18, 2026. Only written addenda issued by the City
modify this RFP.
• The City may reject any or all proposals; waive informalities; request additional information; negotiate terms; or cancel this
solicitation when in the City’s best interest. Proposal preparation costs are the proposer’s responsibility.
• Proposal materials are subject to the Texas Public Information Act. Clearly identify claimed confidential information; the Texas
Attorney General determines whether information may be withheld.
• The selected institution must comply with applicable federal, state, and local law. Final documents are subject to City approval
and may not conflict with this RFP unless the City agrees in writing.
6. Proposer Certification
Institution: __________________________________
Authorized signer: ______________________________
Signature: ___________________________________
Title: _________________________________________
Email: ______________________________________
Telephone: ____________________________________
Date: _______________________________________
Addenda acknowledged: __________________________
By signing, the proposer certifies that the information submitted is accurate, the signer is authorized to bind the institution, and the
proposal complies with this RFP except for expressly identified exceptions.
RFP 2026-009 • Vehicle and Equipment Financing • 2
