City of Eldon Invitation to Bid
Request for Financing Proposals for Patrol Cars
The City of Eldon is seeking proposals from qualified and eligible financial institutions to provide financing for the purchase of patrol cars for the Eldon Police Department.
Project Overview
The City intends to acquire four patrol cars through state bid to enhance the operational capabilities of the Eldon Police Department. Financing is required for an amount not exceeding $185,000.
Scope of Financing
• Loan Amount: $185,000
• Term: 4 years
• Interest Rate: Fixed rates will be considered.
• Repayment Schedule: monthly/quarterly
• Additional Terms:
* The payments are to be equal in amount and are to be charged on a monthly or quarterly basis.
* The interest rate shall be stated in terms of Annual Percentage Rate (APR) and shall be fixed for the entire term of this financial agreement.
* Pre-payment without penalty.
Eligibility Requirements
To qualify, financial institutions must:
1. Be licensed and in good standing to operate within the State of Missouri.
2. Demonstrate experience in providing municipal financing.
3. Provide competitive rates and terms for government entities.
Proposal Submission Requirements
Proposals should include:
1. Letter of interest.
2. Detailed financing terms, including interest rates, fees, and repayment schedules.
3. Disclosure of any required collateral or guarantees.
4. Documentation of the institution’s qualifications in municipal financing.
5. Contact information for key personnel.
6. Proposals must be sealed and mailed or dropped off at City Hall.
Evaluation Criteria
Proposals will be evaluated based on:
• Competitiveness of financing terms and rates.
• Flexibility of repayment options.
• Experience and qualifications of the financial institution.
• Overall cost of financing to the City.
Submission Deadline
Proposals must be received no later than February 19th, 2025 at 5:00pm. Late submissions will not be considered.
Submission Method
Proposals must be submitted as a sealed bid:
• By mail or in person to:
City of Eldon
Attn: Patrol Car Proposal
101 S Oak Street
Eldon, Missouri 65026
Additional Information
For questions or additional information, please contact: Mandy Asbury
City Administrator
573-392-2291
masbury@eldonmo.org
The City of Eldon reserves the right to reject any and all proposals and to waive any informalities or irregularities in the bidding process.
Published Feb. 6, and 13, 2025
