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Commission approves financing agreement with Kansas State Bank for county service truck
Summary
The commission approved a financing agreement with Kansas State Bank to purchase a service-bed mechanic truck under a three-year repayment schedule with a fourth-year balloon purchase option; the equipment purchase was budgeted and procured through competitive bids.
Leavenworth County commissioners approved a financing agreement with Kansas State Bank to acquire a service-bed mechanic truck under a three-year repayment plan of $43,588.43 per year with an optional fourth-year balloon purchase payment.
Bill, the presenting staff member, said the county solicited three bids for the equipment and that this financing route uses a third-party bank rather than dealer financing. He confirmed the purchase is a budgeted item. Commissioner Vanessa made the motion to approve the financing agreement and a second was recorded. The motion passed on a voice vote with commissioners present recording “Aye.”
Bill said the transaction is similar to prior equipment financing and that the board had previously accepted the lowest bid. The financing structure was presented as a third-party arrangement necessary for this vendor’s required documentation; staff said the purchase had been budgeted.
