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Board authorizes $10.2 million lease to buy automated refuse trucks to meet organics‑collection law
Summary
Supervisors approved a seven‑year equipment lease not to exceed $10.2 million to finance 21 automated side‑loader refuse vehicles needed to comply with state composting/organics collection requirements.
The Board of Supervisors authorized county fiscal officers on July 22 to execute a lease‑purchase agreement not to exceed $10.2 million with Bank of America Public Capital Corporation to acquire 21 automated side‑loader refuse collection vehicles for the Department of Waste Management and Recycling.
County debt officer Collin Bettis told the board the seven‑year fixed‑rate lease (3.57% interest offer) spreads vehicle costs over their useful life and supports the department’s compliance with California Senate Bill 1383 and other organics/composting collection requirements. The lease is structured as a non‑general‑fund obligation to be repaid from the department’s net revenues.
Board members voted unanimously to approve the finance arrangement. The department said the approach smooths rate increases for customers by avoiding large up‑front capital outlays.
Staff will return to finalize lease documentation and proceed with vehicle procurement under the terms authorized by the board.
