City of Moraine Committee of the Whole Agenda Packet 2026-06-11
City Chooses Huntington for Case Loader Lease Financing
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Description
Moraine’s Finance Department recommends a five‑year, $237,110.57 lease at 4.89% with Huntington Bank Leasing to finance the new Case loader, with annual payments of $54,600.14 starting in 2027. Huntington was chosen over three competing lenders due to its lower 1% prepayment penalty.
Contract Details
Contract Amount
$237,110.57 at 4.89% (annual payment $54,600.14 for 5 years)
Vendor
HUNTINGTON BANK LEASING
Agency
City of Moraine, OH
Contract Type
FINANCIAL_SERVICES
Document Date
June 11, 2026
Contract Term
5 years, annual payments beginning in 2027
Renewal Info
Lease-purchase agreement with option for prepayment subject to a 1% premium; no automatic renewal beyond the five‑year term.
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