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Council approves financing for FY2024 capital equipment (Lease Schedule No. 4)
Summary
Council approved master lease-purchase schedule No. 4 to finance FY2024 capital equipment: principal $2,688,074.64 at 3.1643% interest (interest $228,008.48), and authorized the mayor to sign financing documents.
Peachtree City council approved the city's annual financing to cover capital equipment purchases for fiscal year 2024, adopting Master Lease-Purchase Schedule No. 4.
City finance staff reported an interest rate of 3.1643% and said the financing covers a principal amount of $2,688,074.64 with interest of $228,008.48. The item requests council authorize the mayor to sign the documents and for the mayor and council members to sign the city certificate of incumbency.
Council moved and seconded the approval "as presented" and carried the motion by voice vote.
What happens next: City staff will finalize the lease schedule and execute financing documents as authorized by council.
