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  5. ›BID 23-2122 LEASE PURCHASE AGREEMENT

Awarded contract·Chesapeake Public Schools·Virginia

BID 23-2122 LEASE PURCHASE AGREEMENT

Won by TD Finance Equipment Finance, Inc.$1MAwarded 6/29/2021Single Award
Contract source

Awarded vendors

  • TD Finance Equipment Finance, Inc.

Description

This award notice confirms that Chesapeake Public Schools has entered into a lease‑purchase financing agreement with TD Finance Equipment Finance, Inc. for equipment acquisition. The contract specifies a 1.64 % interest rate but does not disclose the total dollar value, equipment details, or contract term. It represents a financial‑services procurement rather than a direct purchase of goods or construction services. • Agency: Chesapeake Public Schools (Department of Purchasing) – Virginia • Vendor: TD Finance Equipment Finance, Inc. (Vienna, VA) • Procurement type: Lease‑purchase financing with a fixed interest rate of 1.64 % • No monetary award amount, start/end dates, or detailed scope of equipment disclosed in the notice.

Attached files

Key dates

Intent to award
6/29/2021
Awarded
6/29/2021

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Financial Services
NAICS
522310
Solicitation №
BID 23-2122

Contract value

$1,000,000

The award notice provides no dollar amount. Lease‑purchase agreements for school districts typically finance multi‑year equipment purchases ranging from a few hundred thousand to several million dollars. Assuming a moderate‑size equipment fleet (e.g., classroom technology, computers, lab equipment) and a standard lease term of 5‑7 years at 1.64 % interest, a reasonable ballpark for the financed principal would be roughly $1 million. This estimate accounts for the lack of disclosed scope and the modest interest rate, suggesting a mid‑range financing amount rather than a small purchase or a large capital‑intensive project.

AI estimate from the award documents

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