Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Fire Engine Purchase topic
No spam. Unsubscribe anytime.
Council approves $1.137 million lease-to-own for Fire Engine 53
Summary
Council authorized a seven-year lease-to-own agreement with Zions Bank for $1,137,152 at 4.47% to acquire Fire Engine 53, with debt service starting Jan. 27; the truck was ordered in April 2023 and is expected to arrive next month.
Finance Officer Anna Montoya updated the Council that a fire truck ordered in April 2023 is expected to arrive next month after a roughly 33-month delivery timeline. She said on-truck equipment work remains and described a seven-year lease-to-own financing arrangement through Zions Bank Corporation NA at a 4.47% interest rate and a lease structure that includes a $1 buyout at the end.
Council Member Ryan Hunter moved to approve Resolution No. 2026-01-04R authorizing the lease-purchase agreement in the amount of $1,137,152 and to allow execution and delivery; Council Member Tim Holley seconded the motion, which passed unanimously. The Council recorded that debt service would begin Jan. 27 and that staff confirmed the financing is a lease-to-own structure.
