Extended Title: Calling for tenders for the raising of a long term loan
Calling for tenders for the raising of a long term loan
Tender number: FIN012/2017
Closing date and time: Monday, 16 October 2017 at 12:00
In terms of Section 46 of the Municipal Finance Management Act, 2003 (Act No 56 of 2003) read with Section 83 of the Municipal Systems Act, 2000 (Act No 32 of 2000) tenders are hereby invited from banks or other financial institutions for the financing to fund the Capital Assets of Council by means of an external loan amounting to
R19,9 million for 2017/2018.
The type of loan will be a long term loan, finance lease, or hire purchase agreement over a five to ten year period. The final rate will be fixed once the terms and conditions have been approved by Council.
Tender documentation including the specifications can be obtained, at a nonrefundable deposit of R196-00 (VAT included), from the office of the Supply Chain Management Unit, 1st Floor, Finance Directorate, Civic Centre, York Street, George.
The tender document is also available on the George Municipality’s website:
www.george.org.za, free of charge.
Any enquiries in this regard can be directed to Mrs Magda Meyer and / or Mr Leon Wallace at telephone number (044) 801 9035.
Tenders will be evaluated and adjudicated in terms of the Preferential Procurement Policy Framework Act (Act 5 of 2000) Regulations 2017 and the George Municipality’s Supply Chain Management Policy, where 80 points will be scored for price and 20 points for B-BBEE status.
Completed tenders in a sealed envelope, clearly marked: Tender No. FIN012 of 2017 must be placed in the tender box at the George Municipality on the First Floor, Directorate: Financial Services, Supply Chain Management, York Street, George by no later than 12:00 on Monday, 16 October 2017. Tenders will be opened on the same day in the Committee Room at 12:05. Late or unmarked tenders will not be considered. No posted tenders or tenders per fax or e-mail will be accepted.
The Municipality reserves the right to withdraw any invitation to tender and/or to readvertise or to reject any tender or to accept a part of it. The Municipality is not bound to accept the lowest or any tender. The successful institution will be required to enter into a loan agreement with the Municipality.