Lake Park Town Commission Regular Commission Meeting Minutes 2026-02-04
KS StateBank Financing Option Reviewed for Sanitation Truck
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Description
The Town discussed Resolution 12-02-26 outlining a $376,460 lease-purchase financing proposal with KS StateBank for a 2026 Mack TE64R sanitation truck but staff recommended pursuing lower-cost financing with TD Equipment Finance. The KS StateBank option featured a 4-year municipal lease at 6.25% interest and the highest total interest cost among the evaluated options.
Contract Details
Contract Amount
$376,460
Vendor
KS STATEBANK
Agency
Town of Lake Park, FL
Contract Type
EQUIPMENT
Document Date
February 4, 2026
Contract Term
4-year municipal lease-purchase; first payment due January 22, 2027, final payment January 29, 1930 (per schedule)
Renewal Date
1930-01-29
Renewal Info
Financing schedule shows four annual payments under a 4-year municipal lease-purchase structure; no renewals or extensions described.
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