How do State Agencies Participate in the Program?

HOW DO STATE AGENCIES PARTICIPATE IN THE PROGRAM?

 

      • Representatives of the Financial Advisor are available to discuss the Program, the State Agency's anticipated lease purchase and lease purchase refinancing needs, and the requisite approval process to be undertaken with respect to procurements made under the Program in accordance with State law. Each State Agency interested in participating in the Program should contact:

 

Ms. Vickie Hall Ms. Linda Noah
First Southwest First Southwest
325 North St. Paul Street, Suite 800 325 North St. Paul Street, Suite 800
Dallas, TX 75201-3852 Dallas, TX 75201-3852
214-953-8874 or 800-809-9216 214-953-8876 or 800-809-9216
Fax: 214-953-4072 Fax: 214-953-4072
Email: vickie.hall@firstsw.com Email: linda.noah@firstsw.com

 

      • Additionally, State Agencies may discuss the Program with DFA by contacting:

Aubrey Leigh Goodwin, J.D., Chief Procurement Officer
Director, Office of Purchasing, Travel and Fleet Management
Mississippi Department of Finance and Administration
Woolfolk Building, Suite 701 A
501 North West Street
Jackson, Mississippi  39201

Email: AubreyLeigh.Goodwin@dfa.ms.gov

 

      • Each State Agency participating in the Program will need to provide certain information including:

1.     a detailed description of the equipment to be acquired or refinanced, including a detailed description of the essentiality or need of the equipment for the program or project and the estimated costs to be financed by lease purchase under the Program;
2.     information concerning the useful life of the equipment, the expected date(s) of delivery and acceptance of the equipment, and the proposed financing term; and
3.     a detailed description of the State Agency as well as a description of the particular department, if any, within such State Agency that will utilize the equipment.

A Basic Equipment Planning Form is attached as Exhibit "B".

In addition, each participating State Agency may be asked to submit other documentation including expenditure authority, budget requests that may relate to the equipment to be acquired under the Program or any other information deemed appropriate by DFA and the Financial Advisor  For instance, a State Agency participating in the Program to refinance an existing lease purchase obligation should submit a copy of the original lease or information concerning the date the obligation was incurred, the original equipment acquisition cost and amounts financed, an amortization schedule of the payments to be made in connection with the obligations, and the relevant dates for exercising purchase options or prepayment options.