Orange County NC Website
Browse       Search
DAVENPORT& COMPANY Attachment 3 Davenport Public Finan12 <br /> Independence Center <br /> 101 N.Tryon Street Ste. 1220 <br /> Charlotte,NC 28246 <br /> To Orange County, North Carolina <br /> From Davenport & Company lL1C <br /> Date May 16, 2017 <br /> Subject 2017 installment Financing Contract REP Summary <br /> Background <br /> Davenport& Company ILLC ("Davenport"), on behalf of Orange County, NC (the "County"), distributed a Request <br /> for Proposals ("REP") to secure a commitment for an installment Financing Contract to finance the County's <br /> Vehicles/Equipment and Addition/improvement projects and fund the associated Costs of issuance. <br /> The REP was distributed to over 50 National, Regional, and Local lending institutions. After the initial <br /> distribution, Davenport reached out to each of the potential bidders to assess their interest in the financing and <br /> address any questions they had. <br /> As part of the REP process, responding institutions were asked to provide interest rates for two separate draws <br /> and two separate terms: <br /> • Draw 1: 5 or 7 year term <br /> • Draw 2: 15 or 20 year term <br /> RFP Responses <br /> Through this process, the County was able to secure seven responses to the RIF?, including: <br /> 1. Capital One Public Funding ("Capital One"); <br /> 2. JP Morgan Chase Bank ("JP Morgan"); <br /> 3. PING Equipment Finance ("IPINC"); <br /> 4. Signature Public Funding ("Signature"); <br /> 5. Sterling National Bank ("Sterling"); <br /> 6. SunTrust Equipment Finance & Leasing ("SunTrust"); and <br /> 7. US Bank Government Leasing and Finance ("US Bank"). <br /> The following pages contain a summary of the key terms and conditions for each of the responses received. <br /> Member NYSE I FINRA I SIPC Page 1 <br />