The Atlanta City Council Utilities Committee has signed off on a resolution allowing the city to enter into a master tax-exempt installment purchasing agreement of up to $7.1 million to finance the purchase of heavy equipment for the Department of Watershed Management.
U.S. Bancorp Government Leasing and Finance Inc. would extend the financing with a four-year term and an interest rate not to exceed 1.391 percent, according to Council documents. Watershed Management would make four annual payments of up to $1.8 million starting June 1, 2017.
The equipment consists of five combination sewer cleaner trucks, six plate/knuckle boom trucks, 10 tandem dump trucks, 10 closed-body trucks and one open-body truck. They would be purchased from two vendors: Rush Truck Centers and P&H Supply Co. Inc.
The measure now goes to the full City Council.
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