Bad Debt Sales for Lakeland Electric

NOTICE

REQUEST FOR PROPOSAL

BAD DEBT SALES FOR LAKELAND ELECTRIC

AUGUST 25, 2008

R.F.P. NO. 8259

Sealed proposals will be received by the Purchasing Manager, City of Lakeland, Florida, 1140 East Parker Street, Lakeland, Florida 33801 until 2:00 p.m. - Monday - September 15, 2008 at which time and place proposal submittals received will be publicly opened in the office of the Purchasing Manager and read aloud for the following:

Proposal Documents may be requested by visiting our Website at http://www.lakelandgov.net or by contacting the City of Lakeland Purchasing Division @ (863) 834-6780, on or before, September 8, 2008. Proposal Documents are Required for Submittal. Any Respondent that Does Not Have a City of Lakeland Bidder Number Should Visit the Above Website and Complete a Bidder's Application.

THIS REQUEST FOR PROPOSAL IS SEEKING PROPOSALS FOR A ONE-TIME PURCHASE OF LAKELAND ELECTRIC'S BAD DEBT PORTFOLIO, WHICH IS COMPRISED OF UTILITY ACCOUNTS RECEIVABLES. THE PORTFOLIO WE ARE INTERESTED IN SELLING CONSISTS OF; 59,000 CHARGED-OFF ENERGY ACCOUNTS THAT RECEIVED SERVICE FOR THE YEARS 1985 - 2006 WITH THE AMOUNT OF THE SALE APPROXIMATELY EIGHTEEN MILLION DOLLARS ($18,000,000). MOST OF THE ACCOUNTS ARE CURRENTLY AT COLLECTION AGENCIES AND WOULD BE RECALLED PRIOR TO THE SALE. ALL OF THE ACCOUNTS TO BE SOLD ORIGINATED WITH LAKELAND ELECTRIC IN LAKELAND, FLORIDA. ADDITIONALLY, THESE ACCOUNTS HAVE NOT BEEN PART OF ANY PREVIOUS DEBT SALE AND ALL SECURITY INTEREST HAS BEEN APPLIED TO THE ACCOUNTS. THE PROPOSALS SUBMITTED SHALL BE IN COMPLETE ACCORDANCE WITH, WITHOUT LIMITATION, THIS REQUEST FOR PROPOSAL, THE ATTACHED CITY OF LAKELAND SPECIFICATION ENTITLED, "BAD DEBT SALES", ALL CODES AND REQUIREMENTS REFERENCED THEREIN.

For any further Technical Information or clarification contact: Ms. Carol Rivers, Customer Service Team Leader, @ (863) 834-1210.

Please refer Commercial Inquiries to: Mr. John Hilton, Assistant Purchasing Manager, @ (863) 834-6780.