J.P. Morgan Chase to finance up to $70 million for CNG buses
Written by Miami Today on October 22, 2019
A committee is to be asked today (10/24) to approve J.P. Morgan Chase Bank to provide up to $70 million in capital funds to acquire compressed natural gas (CNG) buses to update Miami-Dade County’s overage transit fleet.
The bank provided the best financing among five proposers for the CNG deal, offering 1.94% interest for a 12-year term or 1.98% interest for a 15-year term, a memorandum to the county shows.
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