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Invitation to Bid - 5 year capital lease to purchase ambulance 

The Village of Villa Park is requesting quotes for a 5 year capital lease to purchase at $291,674 ambulance (see the attached quote). We are planning to approve the purchase and capital lease at our February 24, 2020, Village Board meeting. We expect the ambulance to be delivered in about 9 months. We will accept and evaluate proposals to fund the purchase of the ambulance using the funding options listed below.

  • Place the borrowed funds in escrow, with distribution of funds to the vendor when ambulance is delivered.
  • Delay the issuance of the funds, with distribution of funds to the vendor when the ambulance is delivered.
  • Issue the funds now to the vendor. The Village would receive a prepayment discount and would purchase a performance bond, for total net savings of about $3,000. [Please assume a lease amount of $288,674. The exact amount will be finalized in the coming weeks.]

Responding firms do not need to provide proposals for all three options. In fact, you may propose a funding strategy that is not listed.

Our first payment on the capital lease will take place in 2021, with annual payments thereafter.

You can find Village financial reports on this page: http://www.invillapark.com/155/Finance-Department, including our most recent CAFR and budgets. If you are interested in submitting a quote, please do so, including interest rate, repayment plan, costs for escrow (if needed), and any other relevant terms no later than 3:00 p.m. on Wednesday, February 12, 2020. Please confirm that your proposal is received before the deadline.

The Village of Villa Park will evaluate all proposals and will select the proposals that best meets the needs of the Village. We reserve the rights to reject any and all proposals, and to make corrections and adjustments due to math and other minor errors.

Feel free to contact Kevin Wachtel, kwachtel@invillapark.com, with any additional questions. Kindly forward this to the individual in your firm if you are not the correct person to contact.

Former Bid Projects

Invitation to Bid - Credit Card Merchant Services

Invitation to Bid - Parks & Recreation Brochure Printing Services

Invitation to Bid - Human Resources Information System

Invitation to Bid - Station 82 Emergency Generator System (PDF)

Invitation to Bid - Fire Alarm System (PDF)

Invitation to Bid - Fire Service Main - RPDA (PDF)

Invitation to Bid - Sprinkler System (PDF)

Request for Proposal - Actuarial Services (PDF)