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Council approves leasing seven police vehicles, not to exceed $87,243
Summary
The council approved a five‑year lease (dollar buyout) for seven replacement vehicles through Ford Municipal Finance, with a not‑to‑exceed budget of $87,243; city staff cited cost and availability differences between in‑state state‑bid pricing and out‑of‑state suppliers.
Craig’s City Council authorized the Craig Police Department on Jan. 13 to lease seven replacement vehicles through Ford Municipal Finance, with an expenditure cap not to exceed the $87,243 budgeted for fleet replacement.
Police Chief Michael Cochran explained the department needs to replace three aging trucks (code enforcement/animal control), one detective vehicle and three marked patrol vehicles. He said a Georgia dealer offered substantially lower vehicle pricing than the state‑bid seller on the Front Range, and that Ford Municipal Finance’s five‑year lease with a dollar buyout at the end was the recommended option because it fit the budget and avoided long in‑state vehicle wait times.
Chief Cochran told council that the December financing quote showed an annual payment schedule based on a financed amount (figures presented in the packet) and an interest rate that had recently fallen to about 7.14%; he asked the council to approve the lease not to exceed the budgeted amount because the rate and final quotes were still being finalized. Council voted to approve the lease program as requested.
Staff said vehicles slated for replacement (including a 2013 Jeep Grand Cherokee with a lifetime warranty) will be disposed of through local auctions or internal transfers as appropriate. Chief Cochran said Ford Municipal Finance leases carry no mileage caps and that he expects to have a firm rate the following day.
