Municipal Lease

Table of Contents

What is the Strata Municipal Lease Program?

Strata and Procurement work together on equipment lease finance purchases over $50,000 under Strata obtained Municipal Leases (ML) for multi-year financing of capital purchases where funding is not available from the department. CSURF coordinates the lease process culminating in the issuance of a CSURF purchase order for the full purchase amount to the vendor. Procurement Services supports CSURF’s adherence to CSU Procurement Rules to obtain the equipment as it becomes CSU property when the lease is paid off by the department.

How do I apply for a lease?

  1. The department completes the Strata lease application/documents online. Once Strata has given approval, all appropriate CSU signatures are obtained to launch the municipal lease process. Documents may include the CSURF lease, vendor quote, bid specifications, sole source justification, etc.
  2. The department is advised to alert Procurement Services about the upcoming purchase and subsequent timelines. A Kuali Financial System purchase request is not entered since the final purchase will take place with Strata.
  3. CSURF notifies Procurement Services via email of the approved ML# for project reference, and shares received documents from the department.
  4. The assigned Procurement team member will then review the documents and determine source selection (i.e., solicitation, exclusion, etc. for the final purchase. Procurement will work with the department to obtain/enhance bid specifications or sole source documents as needed.
  5. Procurement will then publicly post on Rocky Mountain E-Purchasing system (RMEPS), a solicitation or sole source in compliance with current CSU Procurement Rules.
  6. Procurement will negotiate terms and conditions with the vendor since the equipment will be ultimately owned by the University.
  7. If needed, Procurement will enlist legal counsel for final legal terms and/or e-signature routing.
  8. Upon closure and award of the public posting on RMEPS, Procurement will share the final award documentation with Strata for use with their PO#.