Comvest’s lease-purchase agreements assist agencies with shrinking tax base. Our lease-purchase program was developed as a financing alternative to cash purchases and the outright issuance of long-term municipal bonds. The ability to spread the cost of the equipment over the useful life is a financial benefit.

By entering into a lease-purchase agreement, public entities can obtain ownership of equipment without debt obligation. . Payments are regarded as a current obligation, not a debt, and require only the approval of the governing body rather than a public referendum.

Lease-purchase agreements stipulate that payments from government agencies are subject to annual appropriations. This means the agency must appropriate the necessary funds, each and every year, until the obligation is paid in full.

Typical lease- purchase terms range from twelve months to ten years, depending on the type of equipment and its useful life. Payment terms can be structured to meet budget constraints.

Park Recreation

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Municipal Services

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