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Council approves buyout authority for Dodge truck lease capped at $60,000
Summary
Bryce Canyon City council voted to authorize buying out a Dodge truck lease, noting a March buyout figure of $56,001.77 and approving purchase authority not to exceed $60,000 pending updated bank paperwork.
Bryce Canyon City’s council voted to authorize the buyout of a Dodge truck lease, approving a spending cap of $60,000.
The Chair told the council the last buyout quote the city received in March was $56,001.77 and that the bank would need to provide an updated payoff figure; the council approved a motion to proceed with the buyout not to exceed $60,000. The motion was moved and seconded and approved by voice vote.
The approval leaves staff authorized to complete the payoff once the bank’s updated paperwork is received. Council members asked staff to forward the complete buyout paperwork when it arrives so the purchase can be finalized.
Outcome and next steps: staff will act on the bank’s updated payoff statement, complete the transaction within the approved cap, and notify council once the buyout closes.
