FlexLease Asset Acquisition Program
FlexLease is a pooled financing program which enables SDAO members to finance projects with flexible terms and competitive market rates. Examples of projects financed through the FlexLease program include:
- Equipment Purchases
- Fire trucks
- Rescue and utility vehicles
- Computer equipment
- Telecommunications equipment
- Hospital equipment
- Park and playground equipment
- Real Property
- Land (acquisitions)
- New building construction
- Remodeling and improvements
FlexLease is a proven alternative to traditional forms of financing capital assets. FlexLease offers districts attractive tax-exempt rates, terms of up to fifteen years, precise and quantifiable costs of borrowing, "user-friendly" documentation; flexible payment terms, prepayment options, fixed rate financing, and no down payment required.
The costs associated with financing the projects, such a program administration fees, legal fees, and trustee fees, are included in the amount financed.
With FlexLease, districts can maintain cash reserves while acquiring essential equipment or real property quickly and conveniently. Districts retain the benefits of ownership and finance property over its useful life. The average length of time to complete a transaction is 45 days for equipment and 60 days for real property.
Contact:
Wedbush Morgan Securities
David Ulbricht, Senior Vice President, Public Finance • 503.471.6790 (Portland)
Tim Iltz, Assistant Vice President, Public Finance • 503.471.6791 (Portland)
Toll-free: 800.234.0480
Fax: 503.224.7097
- | Brochure |
Many Oregon special districts face short-term cash flow deficits during the year, primarily between the beginning of the fiscal year, July 1, and the first receipt of property tax revenue in late November. SDAO's FlexTran Program provides participating districts with a short-term financing alternative to help with this problem.
The SDAO FlexTran Program is available to members of SDAO as part of the Association's ongoing financing programs. RBC Dain Rauscher provides financing services.
The SDAO FlexTran Program pools participating districts' short-term cash flow needs and borrowing costs, thereby providing reduced short-term interest rates. Each district issues its own tax and revenue anticipation note. Districts use the note proceeds to meet their short-term cash flow needs, and then invest the corresponding tax revenues for the remainder of the year. Each district's note is paid at maturity.
Contact:
Wedbush Morgan Securities
David Ulbricht, Senior Vice President, Public Finance • 503.471.6790 (Portland)
Tim Iltz, Assistant Vice President, Public Finance • 503.471.6791 (Portland)
Toll-free: 800.234.0480
Fax: 503.224.7097
Membership at First Tech Credit Union is available to all eligible officials, employees and volunteers of SDAO member districts who are not served by another credit union. First Tech is a financial cooperative owned by its members. Instead of paying a group of stockholders, profits are returned to our members in the form of better savings/loan rates and improved services. Membership is good for a lifetime, even if you change jobs or retire. And once you open an account your relatives are also eligible to join.
First Tech Credit Union offer a full range of financial services including:
- Checking accounts
- Loans for all needs including First Mortgage and Home Equity
- Around the clock account access including NO FEE Online banking and Bill pay
- Visa Check and Credit Cards
- Financial planning and insurance services available
- Many NO FEE services available
- THERE’S NO FEE TO BECOME A MEMBER
First Tech has been serving Oregonians statewide since 1952, and would be pleased to have you as a member. First Tech branches are in Beaverton, Hillsboro, Portland, Salem, and Eugene and all services are easily accessed via internet at 1sttech.com, phone 800.637.0852, mail, fax, and ATM.
