City of Gibson Council Meeting Agenda May 2026
City Considers Higher Lease Payments to Birkey’s
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Description
The City of Gibson will consider increasing its annual lease payments to Birkey’s for a backhoe, wheel loader, and skid steer from $2,572.57 to $3,201.90. The proposed change reflects a rise in the interest rate from 3% to 7%.
Contract Details
Contract Amount
Increase from $2,572.57 to $3,201.90 (annual lease amount)
Vendor
BIRKEY’S
Agency
City of Gibson, IL
Contract Type
EQUIPMENT
Document Date
May 11, 2026
Contract Term
Annual lease
Renewal Info
Existing annual equipment lease with Birkey’s subject to an increase in annual payment amounts due to higher interest rate.
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