Item 09: Approve Master Lease-Purchase Financing Agreement to Purchase Additional Street Equipment


Staff member
Consider approval of Resolution 2021-111R, approving an addendum to the Master Lease-Purchase Financing Agreement with Santander Inc. to add a tractor, trailer, roadway patcher, and two dump trucks for use by the Streets Division of the Public Works Department to be financed under the agreement in the amount of $793,977.94, inclusive of interest, for a seven-year term; authorizing the City Manager or his designee to execute all
appropriate documents associated with this transaction; and declaring an effective date.