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Council authorizes up to $225,000 in financing for four Public Works vehicles
Summary
Cactus City Council authorized the City Manager to secure financing with Happy State Bank for four Public Works vehicles for an amount not to exceed $225,000, accepting the manager's recommendation for one-year financing instead of cashing CD earnings.
The council authorized the City Manager to secure financing with Happy State Bank to purchase four Public Works vehicles, with authorization not to exceed $225,000. The city manager recommended one-year financing rather than using certificate-of-deposit earnings; Alderman Adan Estrada moved the motion and Alderman Raul Ceniceros seconded.
The transcript does not record detailed loan terms or the specific vehicle types. City staff will proceed to negotiate financing and execute necessary loan documents under the not-to-exceed cap approved by the council.
