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Council approves $100,000 lease‑purchase for new sanitation vehicle
Summary
Council approved a five‑year lease‑purchase for a sanitation vehicle (reported principal $100,000) at an advertised interest rate around 5.49% with monthly payments discussed in the meeting; motion carried by voice vote.
Council considered and approved a motion to finalize financing for a new sanitation vehicle through a five‑year lease‑purchase agreement. Council member (speaker 5) presented the financing terms on the record: a $100,000 lease‑purchase, a five‑year term, and an advertised interest rate in the neighborhood of 5.49%, with monthly payments discussed as about $1,900–$1,915 per month.
The motion to approve the financing was seconded and carried by voice vote. Council clarified wording for minutes to refer to a "sanitation vehicle" rather than "garbage truck" and asked that the mayor and recorder be authorized as signatories for the agreement when executed. The mayor congratulated the mover on securing the vehicle financing.
