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Council discusses purchase and lease-to-own financing for new garbage truck
3310363 · May 13, 2025
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Summary
City staff presented a quote for a new rear-pack garbage truck and a six-year lease-to-own plan; council asked for details on prepayment penalties and whether an outright purchase should be considered given current one-time revenues.
Public works staff described a quote for a new rear-pack garbage truck and recommended financing through a tax-exempt lease-to-own agreement. Mr. Pennington told council the low bid from Municipal Equipment Inc. was $317,029 and that the six-year lease-to-own payment would be about $61,956.10 per year.…
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