City of Warsaw Board of Public Works & Safety Minutes 2026-06-05
People's State Bank to Finance Snowplow Fleet Purchase
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Description
The Board approved a five-year equipment lease purchase financing agreement with The People's State Bank for $1,624,842.00 at 4.15% interest to fund six snowplow trucks. Annual payments of $372,792.46 will begin in 2027 under the Hoosier Equipment Lease Purchase Program.
Contract Details
Contract Amount
$1,624,842.00 with 4.15% interest over five years; annual payment $372,792.46
Vendor
PEOPLE'S STATE BANK
Agency
Housing Authority of the city of Warsaw, IN
Contract Type
FINANCIAL_SERVICES
Document Date
June 5, 2026
Contract Term
Five years, payments beginning in 2027
Renewal Date
2032-12-31
Renewal Info
Five-year lease purchase term; renewal or refinancing not specified.
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APPROVEDIssuing Agency
Housing Authority of the city of Warsaw
Local Housing Authority
Milford, IN
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