(I) "The CSURF Lease". The CSURF Lease is designed for less expensive equipment and can be completed quickly and easily. This particular lease is funded through CSURF's $1,000,000 line of credit at a local bank. CSURF purchases the equipment with advances from the line and assigns its interest in the item to the bank as collateral. A year to year cancelable lease agreement is then executed between the University and CSURF. Upon receipt of all lease payments, the lease agreement is terminated and title is passed to the University.

Features of the CSURF Lease are:

• Available for equipment valued up to $50,000. • Payment Frequency is quarterly. • Payback period of five (5) years or less. • A 4% administrative fee is paid to CSURF • Purchase Orders are processed directly by CSURF.

The leasing process (CSURF or Municipal) begins when an interested department determines a need for a specific piece of equipment and submits a lease/purchase request form to the University Representative or the CSURF office. The lease/purchase request form is signed and verified by the Request Originator, Department Head, and Dean of the College to indicate the awareness of all individuals and entities of the financial obligation of the lease arrangement. Requests for computer equipment must also receive the approval of the University's Computer Center. If indication is given on the lease request that payments will be made from research contracts and/or grants, approval of the proper contract and grant administrator is also required to determine that 1) adequate funds are available, 2) the lease payments are allowable charges to the contract or grant. The request is then reviewed by the CSURF leasing officer, the University Representative, and the Vice President for Administration/University Controller to develop a needs assessment and an analysis of the department's ability to make the lease payments, based upon the projected sources of repayment.

Equipment Line of Credit Lease Application

Colorado State University

Colorado State University - Pueblo

Contact Information

Julie H. Birdsall
Chief Financial Officer, Corporate Secretary/Treasurer
Phone: 970.482.2916
Fax: 970.484.0354