City of Merritt Regular Meeting Agenda April 2026
Merritt proposes MFA loan for waste truck purchase
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Description
City staff propose financing a new Commercial Solid Waste Truck through a $416,492 loan from the Municipal Finance Authority, to be repaid over five years with no right of renewal. The borrowing would fund the net cost after trade-in and preserve reserves for other capital needs.
Contract Details
Contract Amount
$416,492
Vendor
MUNICIPAL FINANCE AUTHORITY
Agency
City of Merritt, Canada
Contract Type
EQUIPMENT
Document Date
April 14, 2026
Contract Term
5 years, with no right of renewal
Renewal Info
Loan to be repaid within five years with no right of renewal; floating interest rate with fixed monthly payments and final principal adjustment.
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