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Radford council authorizes pursuit of lease financing for delayed fire truck
Summary
City manager authorized to pursue a lease-purchase agreement after staff said a custom fire truck ordered in 2022 is ready for delivery and the city must close financing within 15 days of shipment.
Radford City Council on Monday authorized City Manager Todd to pursue a lease-purchase agreement so the city can complete purchase of a custom fire truck that was ordered in 2022 and is now ready for delivery.
Council members and staff said the truck has been on the assembly line for about three years and the vendor requires payment within 15 days of shipment. Todd said staff negotiated the proposed financing rate down from 4.86% to 4.5% with Freedom Financial and recommended…
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