City of Marion City Council Meeting Agenda Packet May 2026
City Seeks Revised Bucket Truck Loan Terms
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Description
City staff proposed revising the existing financing arrangement with Marion National Bank for a new Altec electric bucket truck to a 5-year loan at 4.25% interest with $5,355.70 monthly payments. The change would replace the earlier Council-approved 3-year loan structure.
Contract Details
Contract Amount
$25,000 down; 5-year loan at 4.25% (4.26 APR) with $5,355.70 monthly payment
Vendor
MARION NATIONAL BANK
Agency
Town of Marion, KS
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
5-year loan
Renewal Info
This is a proposed change to the original 3-year financing terms previously approved with Marion National Bank; final approval status not recorded in this packet.
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