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Select board authorizes lease‑purchase of excavator and dump truck to replace aging equipment
Summary
To maintain planned capital spending, Raymond authorized the town manager to enter lease‑purchase financing for a tracked excavator (four‑year term) and a dump truck (two‑year term), citing the current excavator's high hours and repair needs and expected 2027 emissions changes for trucks.
The select board authorized a lease‑purchase arrangement for public works equipment on June 23, approving administrative finalization of terms for a four‑year lease on an excavator and a two‑year lease on a dump truck.
Public works staff presented a capital plan that relied on financing to keep FY27 equipment spending flat at $425,000. The existing excavator (purchased used in 2016, model year 2011) has nearly 4,000–4,500 operating hours, a broken hour meter, and mounting mechanical issues; the public works presenter said repairs would be roughly $20,000 and the machine’s market value was estimated at $20,000–$30,000. The dump truck, obtained used in 2019, is also showing age and staff noted a desire to avoid the emissions change expected in 2027 by acquiring a replacement sooner.
A board member moved that the town manager be authorized to enter a lease‑purchase agreement on final terms administratively; the motion was amended to specify a two‑year term for the dump truck and four years for the excavator and was approved by voice vote. Staff said they would go to bid for some components (dump body and plow gear) and expect to finalize vendor terms administratively.
