Gunnison County approves $1.62 million equipment lease-payment schedule to finance purchases

Gunnison County commissioners on June 16 approved a financing authorization to expand the county's equipment leasing arrangements, adopting Resolution 2026-21 to execute Payment Schedule No. 02 under a master lease-purchase agreement.

Chief Finance Officer Melissa LaMonica said the county initially entered into a master agreement in 2022 to streamline equipment purchases and to avoid negotiating terms for each transaction. "The Initial agreement was signed in 2022 and it became a line of credit," LaMonica said, describing the intent to maintain a relationship with Holman Capital that allows the county to spread certain equipment expenses over seven years. Staff described the second payment schedule as creating a revolving line to finance equipment acquisition.

The resolution authorizes designated county officers, including the county manager, to execute Transaction Documents and related closing documents and directs staff to take necessary administrative steps to implement the leasing arrangement. The financing amount presented at the meeting was $1,619,450.

Commissioner Elizabeth Smith moved approval and Commissioner Jonathan Houck seconded; the motion carried unanimously.

Why this matters: The payment schedule gives the county flexibility to finance capital-equipment purchases through a pre-approved leasing mechanism rather than executing separate long-form terms each time, which can speed procurement and spread costs across fiscal years.

Next steps: Designated officers will execute the approved documents; staff will coordinate with the lender and escrow agent for final disbursement and equipment acquisition.