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Council authorizes lease-purchase financing for new fire ambulance
Summary
Council approved Resolution 2026-07 authorizing a tax-exempt lease-purchase financing agreement with Rev Group for a new fire department ambulance; staff said the vehicle costs $327,611 with a 3-year note at 4.75% and an annual payment of $119,738.44.
The Edwardsville City Council voted to authorize a tax-exempt lease-purchase financing agreement with Rev Group to purchase a new fire department ambulance. Staff reported Rev Group offered a 3-year financing term at 4.75% interest for a total vehicle cost of $327,611, with an annual payment of $119,738.44; the ambulance is expected to be delivered in mid-May and will receive additional equipment work from the local dealer as part of the financing.
Council members asked whether the existing ambulance would be retained; staff said the current ambulance (originally purchased in 2014 and remounted from an older box) will be sold and likely reused by another department or sold through a marketplace such as Purple Wave. The lease-purchase agreement was moved, seconded, and approved by roll call.
