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Council awards lease‑purchase financing for new Peterbilt dump truck
Summary
The council approved a resolution awarding a lease‑purchase financing contract to Cadence Equipment Finance for a Peterbilt dump truck not to exceed $160,000 over five years. Staff said the vehicle was already budgeted but required financing and that one proposal was received.
Orange — The Orange City Council approved a resolution awarding lease‑purchase financing to Cadence Equipment Finance to fund a Peterbilt dump truck in an amount not to exceed $160,000 for a five‑year term.
Public Works staff said the truck was included in the budget and that the city solicited financing; staff reported receiving a single proposal from a vendor the city has used previously and recommended awarding the contract to Cadence Equipment Finance. Council approved the resolution by voice vote.
No changes to the financing term or amount were made on the floor during the meeting.
