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Trust approves lease-purchase for replacement trash truck with First National Bank financing
Summary
The Trust authorized a lease-purchase agreement with First National Bank to finance a new trash truck to replace a 10‑year‑old vehicle, contingent on legal approval and delegation of signing authority to the trust manager or designee.
The Trust approved a lease-purchase agreement to finance a new trash truck (C25-63) with First National Bank as the lender, subject to legal approval and with signing/payment authority delegated to the trust manager or his designee.
Trust staff said the Solid Waste Department is acquiring the truck to replace a 10‑year‑old vehicle that will be retained as a backup. Staff solicited quotes from four lending institutions; First National Bank submitted the lowest package, beating the next closest bidder by $500.58. Trustees moved and seconded approval and the motion passed with recorded affirmative votes.
Trust staff did not provide the total financed amount in the spoken record; the transcript notes only the margin by which First National's offer was lower. The approval included authorization for the trust manager to execute documents once legal review is complete.
