Public Contract Codes 10324 and 12110 allow local agencies to participate in state procurements including contracts for materials, supplies and equipment. A local agency is a city, county, city and county, district, or other local governmental body or corporation empowered to expend public funds. This includes school districts, water districts, mosquito abatement districts and transportation authorities when they meet the definition. For more information on this, please go to the Local Agency Participation in State Procurement Contracts page.
Current available plans are specifically tailored for the State of California contracts, however anyone with Internet access can browse. The terms and conditions may be reviewed and tailored by local governments for their use. The local government should change all references to the State of California to the legal name of the entity, then let their legal counsel review the terms and conditions as well as all of the closing documents.
All rates listed in GS $MartŪ are supplied by participating Lenders for State of California agencies only. Other governmental jurisdictions may have different credit ratings and, hence, warrant different rates. If GS $MartŪ is used by a local government their rates will adjust to the local government's credit rating.
The GS $Mart program is a double competitive bid process. Please ask the GS $Mart Manager more about this.
Some of the areas of concern for the local governments may include:
- Authority to sign a UCC-1 Financing Statement - this gives the lending institution a security interest in the equipment;
- Signature authority to enter the financing contract; and
- When title passes to the local government.
Please call Pat Mullen, the GS $Mart and Lease $Mart Manger, at (916) 375-4617 if you have any further questions.
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