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Council adopts resolutions on depositories, equipment financing and multiple FY2026 budget amendments
Summary
The Laramie City Council unanimously approved resolutions 2026-37 through 2026-40 on June 2, designating depositories, authorizing equipment expenditures with lease reimbursement, and adopting budget and project amendments for fiscal year 2026.
The Laramie City Council voted 8-0 on June 2 to approve four financial resolutions: designating depositories for public funds (resolution 2026-37); approving equipment expenditures and seeking reimbursement from tax-exempt lease proceeds in fiscal year 2027 (resolution 2026-38); amending the fiscal year 2026 budget to reflect unanticipated expenditures and revenues (resolution 2026-39); and adopting project budget amendments for fiscal year 2026 (resolution 2026-40).
Staff explained the city often finances large equipment purchases using a cancelable lease purchase agreement and solicits bids from authorized depositories to secure the lowest overall cost for tax-exempt financing. Council approved the resolution to pursue equipment expenditures and subsequent reimbursement from lease proceeds.
Resolution 2026-40 included staff recommendations to decrease appropriations in multiple funds, including the general, economic development, capital construction, specific purpose excise tax, water, wastewater and solid waste funds; the recap did not provide dollar amounts for the adjustments.
Each resolution passed by an 8-0 vote; the transcript did not record roll-call names or fiscal detail beyond the described fund categories. The council will meet next on June 16.
