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Amarillo accelerates fleet leasing, plans $7.5M heavy‑equipment issuance and rebalances internal reserves
Summary
City staff described ongoing conversion from cash replacement to leasing, proposed a $7.5 million debt issue for heavy equipment, added $2M to the leasing program and proposed returning excess fleet and insurance reserves to general fund for one‑time capital.
Fleet staff and finance described an ongoing multi‑year program to replace vehicles and heavy equipment. The city is transitioning from cash‑funded vehicle replacement to a leasing model and occasional debt issuances for heavy equipment. Fleet staff said the initial program delivered a large number of replacement vehicles this year and that the proposed FY25‑26 budget adds roughly $2,000,000 for another round of leased units and proposes a $7,500,000 debt issuance to replace heavy equipment.
Finance staff said those proposed debt issuances are targeted to asset…
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