City of Palmetto Commission Meeting Agenda April 20 2026
Palmetto to Finance $577K in Fleet and Equipment With US Bancorp Lease
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Description
The City of Palmetto is set to approve a four‑year, $577,000 capital lease with U.S. Bancorp Government Leasing and Finance, Inc. to finance police SUVs, pickup trucks, a graphic plotter, a Ventrac tractor, and a CRA SUV at 3.6945% interest. Quarterly payments of $38,839.89 will fund the fleet and equipment across the General Fund, Road and Bridge, and CRA budgets.
Contract Details
Contract Amount
Not to exceed $577,000
Vendor
U.S. BANCORP GOVERNMENT LEASING AND FINANCE INC
Agency
City of Palmetto, FL
Contract Type
EQUIPMENT
Document Date
April 20, 2026
Contract Term
4 years, quarterly payments of $38,839.89; closing no later than April 22, 2026
Renewal Date
2030-03-17
Renewal Info
Master lease/purchase structure allows future schedules; obligations under this schedule are subject to annual appropriation and may be prepaid after 13 months at 103% of remaining principal.
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