Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Works topic
No spam. Unsubscribe anytime.
Commission approves $1.19M purchase of three John Deere graders and financing application
Summary
Curry County approved purchasing three John Deere 772G motor graders for $1,191,295.32 and authorized staff to apply to the New Mexico Finance Authority to finance the purchase over seven years with anticipated annual debt service of about $190,113.
The Curry County Commission voted April 10 to purchase three John Deere 772G motor graders from 4 Rivers Equipment under Sourcewell contract 011723JDC at $397,098.44 each (including an extended warranty), for a total purchase price of $1,191,295.32.
Public works staff said the machines will replace older units and that some retired graders will be auctioned to recoup part of the cost. The department noted possible delivery as early as September with a more likely December delivery window. Staff emphasized features that influenced the selection, including a John Deere premium sealed circle for reduced maintenance and a rear ripper float mode the CAT alternative did not offer.
Following the purchase approval, administration asked the commission to submit a Public Project Revolving Fund equipment financing application to the New Mexico Finance Authority. The proposed financing would cover $1,191,296 over seven years with estimated annual debt service of about $190,113, total payments around $1,330,794 and total interest of approximately $139,498 (about 3.11% overall borrowing cost). Repayment was proposed from the third‑through‑eighth increment gross receipts tax. Commissioners approved submission of the application.
County staff said proceeds from auctioning old graders could be used to prepay the loan or be invested; closing on the loan was anticipated in July 2026.
