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Salinas approves lease financing to buy four fire apparatus, staff says lead times are five years
Summary
The Salinas City Council approved a tax‑exempt equipment lease and a mix of cash from land‑sale proceeds to fund two Type 1 engines, a tractor‑drawn aerial and a Type 6 brush rig; staff said current lead times for apparatus are about five years and the city expects annual debt service of roughly $530,000.
Salinas — The City Council voted to approve financing to buy four pieces of fire apparatus on Feb. 3, arranging a mix of cash from land‑sale proceeds and a tax‑exempt equipment lease with Bank of America Public Capital Corp.
Finance Director Selena Andrews described the package as a combination of cash (from recent land sales) and lease financing under the city's Master Equipment Lease Purchase Agreement (MELPA). Andrews told the council the amount to…
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