FINANCIAL_SERVICESPENDING

City of Anthony Agenda Packet Special Meeting 2026-05-21

City plans solar equipment lease with Capital One

Capital cost $4,962,161 financed; annual average effective interest cost 5.00% per annumCity of AnthonyCAPITAL ONE PUBLIC FUNDING LLCMay 21, 2026

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Description

The City of Anthony plans to enter into an Equipment Lease Purchase Agreement with Capital One Public Funding, LLC effective May 28, 2026 to finance approximately $4.96 million in solar equipment at an average effective interest rate of 5.00%. The lease is structured with annual renewal terms subject to appropriation and includes a 36‑month acquisition and escrow period.

Contract Details

Contract Amount

Capital cost $4,962,161 financed; annual average effective interest cost 5.00% per annum

Vendor

CAPITAL ONE PUBLIC FUNDING LLC

Agency

City of Anthony, KS

Contract Type

FINANCIAL_SERVICES

Document Date

May 21, 2026

Contract Term

Original Term commencing May 28, 2026 through fiscal year end, with one-year Renewal Terms up to the Maximum Lease Term per Payment Schedule

Renewal Info

Lease renews annually at the City’s option up to the Maximum Lease Term; nonappropriation in any fiscal year terminates the lease without further obligation beyond surrender of the equipment.

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