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A municipal or tax-exempt lease agreement allows a political subdivision to use its annual revenues to make payments for any type of essential use equipment or facilities. This structure is an alternative to purchasing an asset with cash, acquiring its use for a...
With a lease-purchase Agreement, a non-appropriation clause enables the lessee to account for the lease obligation as a current expense instead of debt and to terminate the lease agreement at the end of the current appropriation period without further obligation or...
For the lease to qualify for the interest exclusion, a lessee under a tax-exempt lease must be a state or possession of the U.S., the District of Columbia, or a political subdivision thereof. This may include state entities such as school districts, special purpose...
Title may either be retained by the lessor until all payments have been received or may be granted to the lessee at lease inception. In the case of the latter, the obligation is secured by a ‘perfected’ first security lien on the equipment. In most cases...
Tax-exempt leasing is one of the simplest and most successful ways to purchase essential equipment and facilities. In addition to qualifying for low interest rates, municipalities can conserve their cash while acquiring the equipment and facilities necessary for their...
