Municipal leasing is an effective and efficient vehicle for state and local governments and school systems (collectively, the “municipality”) to finance their equipment and infrastructure needs. The structure of a municipal lease enables the municipality to finance its capital needs without incurring indebtedness that in the majority of municipalities is subject to voter approval. The process of securing voter approval, and then underwriting and issuing bonds, is both time-consuming and costly to the municipality. It can also lead to significant delays in the delivery of new products that a municipality requires to serve and educate its residents in an ever-changing world. The simplicity and cost-effectiveness of a Varilease municipal lease is the perfect solution.

A primary characteristic of a municipal lease is that it is generally subject to annual appropriation of funds by the municipality to make the lease payments. This, in effect, makes the lease a year-to-year obligation and generally not subject to the statutes governing the way a municipality purchases long-term assets. Equally as important, the Varilease municipal lease document is straightforward and flexible. Standard lease documentation is ready in hours. Special needs documentation will be addressed quickly and accurately by our experienced contract specialists. This combination of simplicity and flexibility will often make the cost of financing significantly lower under a municipal lease than if the municipality had borrowed money for the acquisition directly under a debt instrument.

Varilease has helped municipalities all over the country to quickly and easily finance their equipment purchases. From computers and technology to school buses and snowplows, we provide tailored solutions to meet your needs. Cost-effectiveness and quicker access to required equipment is a winning combination.

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