UFI offers qualified public bodies Tax Exempt Municipal Leases or Lease-Purchase Agreements for local governments at significantly lower rates than are typically available for commercial lease transactions. The municipal lease is structured so that the governmental body is the equipment owner for tax purposes. Because the lessor does not pay federal tax on the lease payments it receives, it can offer lower financing rates to the government. In order to comply with restrictions on governmental debt obligations, the municipal lease contains a “non-appropriation” provision that allows the lessee to terminate the lease at the end of its then current fiscal year in the event that funds are not legally available to make future lease payments. UFI offers qualified public bodies the advantages of its tax exempt municipal lease, with the convenience of a master lease. The basic terms and conditions of the finance agreement are contained in the master municipal lease agreement, making subsequent lease financings more streamlined with lease schedules that require only minimal legal review by the lessee.