Council approves lateral camera purchase and 7-year lease option for sewer televising

The Virginia City Council on July 22 authorized purchase of a lateral/main sewer televising camera system and approved a lease option, selecting a seven-year lease term to finance the equipment. Councilor Johnson moved adoption of the seven-year lease; Councilor Paulson supported the motion and the council approved it by voice vote. Public Works Director Jim Ross described that existing camera equipment is obsolete and too short for some city laterals and mains; he recommended a system capable of main and lateral televising to assess pipe condition. The council reviewed a financing proposal from Huntington Public Capital showing a total lease amount of $362,878. City Clerk Pam Levine explained the lease options and rates: “Five-year term, which would be, 4.32% rate. 7 is 4.41, and 10 is 4.55.” Councillors discussed whether to shorten the term to save interest or lengthen it to preserve cash; staff said the sewer fund has earned roughly $70,000 in interest this year and that the fund is healthy enough to cover the purchase without a levy. The council voted to adopt the resolution to purchase the system and separately adopted the seven-year lease option to finance the balance, giving staff authority to finalize the procurement and financing. Council asked staff to provide final lease paperwork and options for term and payment schedule before disbursement.