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Council approves master lease purchase agreement, authorizes rate-lock parameters up to $7.3 million
Summary
Missoula City Council unanimously approved a resolution authorizing the form of a master lease-purchase agreement and rate-lock parameters, allowing up to $7.3 million in principal, a true interest cost cap of 4.95% and a term not to exceed 15 years.
The Missoula City Council unanimously approved a resolution on Aug. 4 authorizing the form of a master lease-purchase agreement, related lease schedules and a rate-lock agreement with parameters that cap principal at $7,300,000, true interest cost at 4.95% and the term at 15 years.
Lee Griffin, staff presenting the item online, said the administration ran an RFP…
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