Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Finance topic
No spam. Unsubscribe anytime.
Select Board authorizes $601,366.28 equipment lease financing for FY27 purchases
Summary
The board approved a capital-lease proposal with TD Equipment Finance for FY27 equipment—two dump trucks, a wastewater screen, and a trailer generator—with a fixed interest rate of 4.5% and a lease total of $601,366.28 and authorized the town manager to sign financing documents.
The Select Board authorized Town Manager Dan Monks to execute financing documents for a capital-lease agreement with TD Equipment Finance of $601,366.28 to acquire FY27-approved equipment: a one-ton dump truck with plow, a double-axle dump truck, a wastewater screen, and a trailer generator. The town manager said the interest rate was fixed at 4.5% provided the documents are signed by the deadline and emphasized that these purchases were already approved in the budget.
Board members moved and seconded the authorization, clarifying that approving the financing does not change the approved budgeted purchases and that signing authority rests with the town manager. The motion passed by voice vote and staff will proceed to finalize the lease paperwork.
