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Shelby council approves $53,500 lease for new tractor
Summary
On July 2, 2024 the Shelby City Council approved Resolution 7-242 to lease a $53,500 tractor from John Deere Financial and held a related hearing to institute a loan agreement not to exceed $75,000 for public-works equipment.
On July 2, 2024 the Shelby City Council approved Resolution 7-242 authorizing a lease agreement with John Deere Financial for $53,500 to finance a new tractor for city use. The motion to approve the lease was made by Pat Honeywell and seconded by Todd Frank; roll call was recorded as all ayes and the motion carried.
The council also held a statutory public hearing to consider instituting proceedings to enter a loan agreement in a principal amount not to exceed $75,000 for Public Works equipment. Mayor Ron Kroll closed the hearing at 7:33 p.m. after noting there were no oral or written comments. The hearing was described in the minutes as required by law; no public objections or comments were recorded.
The action will allow city staff to proceed with the equipment financing and lease as approved. The minutes do not specify financing term length, annual payment amounts, or which Public Works account will be charged; those details were not provided in the record and are listed as not specified.
Next steps: the city will execute the lease agreement with John Deere Financial as authorized by Resolution 7-242 and proceed with equipment acquisition per the council’s approval.
