Features and Benefits

What are the financing benefits for municipalities?

The benefits of financing through the MCIA include:

  • Elimination of the 5% downpayment
  • Financing not counted in statutory net debt
  • CAP law limitations do not apply
  • Flexible repayment schedules as 200% principal repayment rule is not required
  • Ability to do a negotiated sale to take advantage of market opportunities
  • Broad range of equipment can be financed including equipment which may not be eligible for financing as bonds
  • Economies of scale for costs of issuance in pooled borrowings
  • If County guarantees financing, the bonds will be rated “AAA” and therefore carry the lowest possible interest cost without additional costs
  • One week turnaround through the capital equipment leasing program.

 

What are the financing benefits for school districts?

The benefits of financing through the MCIA include:

  • Flexible repayment schedules as 200% principal repayment rule is not required
  • Ability to do a negotiated sale to take advantage of market opportunities
  • Broad range of equipment can be financed including equipment which may not be eligible for financing as bonds
  • Economies of scale for costs of issuance in pooled borrowings
  • If County guarantees financing, the bonds will be rated “AAA” and therefore carry the lowest possible interest cost without additional costs
  • One week turnaround through the capital equipment leasing program.

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