Project Information

Bid Title

Request for Proposals: 26-1121 Equipment and Vehicle Financing Addendum 1

Issuing Agency

Town of Holly Springs

Location

North Carolina

Published Date

Nov 26, 2025

Closing Date

Dec 5, 2025

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Request for Proposals: 26-1121 Equipment and Vehicle Financing

• Due Date: December 5, 2 p.m. via e-mail
• Solicitation
• Addendum 1

Attachment Preview

TOWN OF HOLLY SPRINGS, NORTH CAROLINA

REQUEST FOR PROPOSALS

RFP# 26-1121 FY26 EQUIPMENT AND VEHICLE FINANCING

Issue Date: November 21, 2025

Due Date: December 5, 2025 by 2:00 PM

I. PURPOSE

The Town of Holly Springs desires to secure and enter into an installment financing agreement

pursuant to NC General Statute §160A-20 in the principal amount not to exceed $2,312,000 (bank

qualified) for the purpose of financing the purchase, upfit and North Carolina Tax and Tag costs of

various vehicles and equipment. The Town is soliciting proposals to provide the necessary financing,

subject to the terms and conditions set forth in this Request for Proposals.

II. BACKGROUND

• The Town bond rating is AAA with Standard and Poor’s and AAA with Moody’s Rating Services.

• The Town of Holly Springs 2024 Annual Comprehensive Financial Report for the most

recently audited year ending June 30, 2024, is available at the provided link or on the Town of

Holly Springs website.

III. VEHICLES AND EQUIPMENT LIST

QUANTITY

PURCHASE

3

2025 or 2026 Ford Escape

13 2026 Ford Interceptor

1

John Deere 250P Excavator

1

PAC MAC 20yd Freightliner – Leaf Vac Truck

1

2026 Ford E-Transit T350

4

John Deere Z970R 72in Mower

1

Ford Transit - 15 Passenger Van

1

2026 Ford Maverick Hybrid XL

1

Ventrac 4520N Kubota Tractor

1

2026 Ford F250 SuperCab

1

Tandem Dump Bed Freightliner – Dump Truck

1

John Deere 5105m Utility Tractor

1

2025 Ford F150 SuperCab XL 4X4

RFP# 26-1121 FY26 EQUIPMENT AND VEHICLE FINANCING

Page 1 of 7

IV. CONTRACT SPECIFICATIONS

1. The desired amount of the financing is not to exceed $2,312,000.

2. The desired term of the financing will be 59 months.

3. The amortization schedule shall not require the first payment prior to July 1, 2026.

4. Installment payments are to be made in level, semi-annual payments, payable in arrears.

5. The interest rate is to be fixed for the entire term of the agreement.

6. The interest rate(s) proposed must be guaranteed through January 31, 2026. The desired closing

date is January 31, 2026. If the closing date surpasses January 31, 2026, the proposed rate must

remain locked in through closing.

7. The Town of Holly Springs desires prepayment of the principal at any time without penalty.

8. The Town of Holly Springs obligation under the installment financing agreement will be secured

by financing statements and security interests in all or a portion of the equipment and vehicles

being financed as negotiated between the Town of Holly Springs and the awarded bidder. No

deficiency judgment may be rendered against the Town of Holly Springs for breach of a

contractual obligation under the installment financing agreement, the taxing power of the Town

of Holly Springs will not be pledged to secure repayment there under.

9. The Installment Financing Agreement must include a non-appropriation clause, a non-

substitution clause is not acceptable.

10. Successful bidder will file on behalf of the Town of Holly Springs any IRS documentation required

by the U.S. Treasury.

11. Successful bidder shall be chartered in North Carolina by the North Carolina Commissioner of

Banks.

12. Contract will be in accordance with state and federal statutes, rules and regulations; including

but not limited to NCGS §159-30, NCGS §159-31, and 20 NCAC 07.0107.

13. Funds must be collateralized in the state of North Carolina via the pooling method -OR- be

deposited into North Carolina Capital Management Trust (NCCMT).

• If collateralized under the pooling method, the funds shall be placed into an interest-

bearing demand deposit account, where interest earned remains in the bank account

and belongs to the Town.

14. Reimbursement: The contract must allow for reimbursement of prior expenses incurred within

an agreed upon lookback period, ideally 90 days. Please indicate your firm’s maximum lookback

period for reimbursable prior expenses in Required Form 1.

RFP# 26-1121 FY26 EQUIPMENT AND VEHICLE FINANCING

Page 2 of 7

V. PROPOSAL SUBMISSION INSTRUCTIONS

Proposals must be submitted electronically, via email, to the contact listed below by the response

due date. Please reference the solicitation name and number in the email’s subject line. Upon

receipt, all responses and supporting materials become property of the Town and are subject to

public record. Proposals submitted after the stated due date and time will NOT be accepted and

deemed non-responsive.

Brettany DeVolld, Purchasing Manager

RFP 26-1121 FY26 Equipment and Vehicle Financing

brettany.devolld@hollyspringsnc.gov

Format

Proposals shall be submitted in a single, digital PDF file and contain the content described below.

Content

Proposals must satisfy the criteria outlined below to be responsive to this solicitation.

1. Cover Letter: Provide the legal name, address, and telephone number of the firm along with the

designated contact’s name, title, email address, and telephone number. Include a statement

attesting to the proposal's accuracy and signed by an individual authorized to execute binding

legal documents for the firm.

2. Required Form 1: “Proposal Form”

3. The terms of repayment. Please attach amortization schedule for 59 months.

4. A copy of your proposed Installment Financing Agreement.

VI. QUESTIONS INSTRUCTIONS

Respondents shall submit all questions, in writing, to the contact listed below. When submitting

questions, please reference the solicitation name and number, as well as the page and section, if

applicable.

Deadline to submit questions: December 1, 2025 at 2:00PM

Email to: Brettany DeVolld brettany.devolld@hollyspringsnc.gov

VII. CONTRACT AWARD

The standard of award will be based on the lowest total financing cost (including both interest cost,

upfront fees and expenses), and terms deemed to be in the best interests of the Town. Contract

award is subject to approval by Town Council and anticipated to occur at the January 20, 2026

meeting. The ideal financier would be able to accomplish a negotiated contract ready for signatures

by January 1, 2026, in order to meet this timeline and a January 31, 2026 closing date.

RFP# 26-1121 FY26 EQUIPMENT AND VEHICLE FINANCING

Page 3 of 7

REQUIRED FORM 1

PROPOSAL FORM

RFP# 26-1121 FY26 EQUIPMENT AND VEHICLE FINANCING

Proposals shall include pricing based on gross funding (without consideration of investment earnings)

and the requirements and terms set forth in this solicitation. Pricing must be all-inclusive and cover

every fee/cost of the scope/services that the Town will be financially responsible for. Cost must be in

United States Dollars and rounded to the nearest quarter of a dollar. If there are additional costs

associated with the services, please add them in the spaces provided. You may also include a separate

page in the pricing response section of your proposal submission if additional space is required.

Proposals shall be guaranteed through January 31, 2026 or the closing date.

LOAN AMOUNT:

TERM:

INTEREST RATE (fixed):

SEMI-ANNUAL PAYMENT AMOUNT:

TOTAL INTEREST PAID OVER LIFE OF LOAN:

MAXIMUM LOOKBACK PERIOD (in days) FOR

REIMBURSABLE PRIOR EXPENSES

$2,312,000 (not to exceed)

59 months

%

$

$

days

ALL FEES/COSTS: List all additional costs associated with this transaction, including origination or

placement fees, escrow fees, counsel fees and expenses, information detailing capped fees or

expenses, etc.

_____________________________________________________________________________________

_____________________________________________________________________________________

_____________________________________________________________________________________

_____________________________________________________________________________________

EXCEPTIONS: List any exceptions to the terms included in this Request for Proposals.

No additional charges to the Town of Holly Springs for this installment financing agreement will be

permitted. All charges must be listed in this proposal. By submitting this proposal, the lender agrees

to the specifications set forth in this Request for Proposals, with the exception of the following:

______________________________________________________________________________________

______________________________________________________________________________________

______________________________________________________________________________________

______________________________________________________________________________________

RFP# 26-1121 FY26 EQUIPMENT AND VEHICLE FINANCING

Page 4 of 7

VIII. DISCLOSURES

Town’s Rights and Options.

The Town reserves the right, at the Town’s sole discretion, to take any action affecting this

solicitation, this solicitation process, or the services or facilities subject to this solicitation, that would

be in the best interests of the Town, including:

• To supplement, amend, substitute, or otherwise modify this solicitation, including the

schedule, or to cancel this solicitation, at any time;

• To require any respondent to supplement or clarify its bid or provide additional information

relating to its response;

• To investigate the qualifications, experience, capabilities, and financial standing of each

respondent submitting a bid;

• To waive any defect or irregularity in any bid received;

• To reject any or all bids;

• To share the bids with Town employees and contractors, in addition to the Evaluation

Committee, as deemed necessary by the Town;

• To award all, none, or any part of the services and enter into contracts with one or more of the

respondents deemed by the Town to be in the best interest of the Town, which may be done

with or without re-solicitation;

• To discuss and negotiate with any respondents their bid terms and conditions, including but

not limited to financial terms; and

• To terminate discussions and negotiations with any respondent at any time and for any

reason.

Accuracy of Solicitation and Related Documents.

Each respondent must independently evaluate all information provided by the Town. The Town

makes no representations or warranties regarding any information presented in, or otherwise made

available during this procurement process, and assumes no responsibility for conclusions or

interpretations derived from such information. Additionally, the Town will not be bound by or

responsible for any explanations or conclusions regarding this or any related documents other than

those provided by an addendum issued by the Town. Respondents may not rely on any oral

statement by the Town or its agents, advisors, or consultants.

If a respondent identifies potential errors or omissions in this or any other related documents, the

respondent should immediately notify the provided contacts of such potential discrepancy in writing.

The Town may issue a written addendum if it determines correction is necessary.

Expense of Bid Preparation.

The Town accepts no liability and respondents will have no actionable claims for reimbursement of

any costs or expenses incurred while participating in this solicitation process. This includes expenses

and costs related to bid submission, submission of written questions, attendance at Prebid

conference, contract negotiations, or activities required for contract execution.

RFP# 26-1121 FY26 EQUIPMENT AND VEHICLE FINANCING

Page 5 of 7

Commodity Codes

• NAICS 532490Other Commercial and Industrial Machinery and Equipment Rental and Leasing

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