Council gives staff direction to proceed with Bancorp lease to secure police vehicles ahead of deadline

City staff (Peter, S3) walked the council through a proposed master lease with Bancorp to finance municipal fleet purchases. Staff said they solicited three bids and recommended Bancorp because it functions as a direct lender and can assist with procurement; the master lease approach would provide a credit line and flexibility to add vehicles in future budget cycles.

Peter told the council the staff recommendation was driven by procurement challenges and vehicle lead times; he said the package budgets five patrol vehicles and one K-9 unit now and asked for permission to tentatively order vehicles to meet a Jan. 13 national ordering deadline while the contract completes legal review. He cited an effective interest rate of "between 4.4–4.8%" and said the staff sought a master lease cap around $1.2M–$1.3M in retail value so the city could draw tranches as budgeted. Council members asked about blank or redacted fields in the draft master lease and about how upfitting equipment (lights, radios) would be treated; staff and a vendor contact in the discussion said upfits are typically financed with the vehicle and that Bancorp has a non-appropriation clause that allows return of vehicles if future budgets do not cover lease payments.

Council signaled support for proceeding, with staff instructed to finalize contract language with the city attorney and return within roughly two weeks for formal approval. Peter noted the city can cancel orders if the contract terms are not acceptable once legal review completes.