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BOCC approves SLV Federal lease for CAT road grader
Summary
The Conejos County Board of County Commissioners voted 3-0 to finance a CAT road grader through SLV Federal, which offered 100% financing at 4.25% for 10 years; Alamosa State Bank had offered 80% financing at a higher rate and longer term. The board also discussed holding a courthouse door project after a grant reallocation.
The Conejos County Board of County Commissioners voted unanimously to lease-purchase a new CAT road grader through SLV Federal, which offered full financing at a lower rate and shorter term than a competing bank.
County Administrator Tressesa Martinez presented the financing options and described the offers under consideration; "SLV Federal will lend 100% of the amount at 4.25% rate for 10 years," she said. Commissioners chose the SLV Federal proposal after comparing it with Alamosa State Bank's offer of 80% financing at 4.75% for 15 years. Comm. Carlos Garcia moved to use SLV Federal for the lease and Comm. Joseph Baroz seconded; the motion carried 3-0.
The board recorded the vote as a formal decision to proceed with SLV Federal financing and did not attach additional conditions to the motion. The lease decision will allow county road crews to replace aging equipment; the timeline for delivery and the budgetary impact will be brought back to the board as implementation details are finalized.
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