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Carmel authorizes $491,511 equipment lease through Indiana Bond Bank HELP program
Summary
The Board authorized a master equipment lease and separate lease schedule to finance a generator purchase of $491,511 through the Indiana Bond Bank's Hoosier Equipment Lease Program (HELP), which the city said offered a lower interest rate and no prepayment penalty.
The City of Carmel Board of Public Works and Safety on May 21 authorized a master equipment lease and related documents to finance a generator purchase and other equipment for a total financed amount of $491,511.
Zach Jackson, the city's chief financial officer and controller, explained the city solicited a capital-lease vendor and…
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