Finance $5 million street light system upgrade through equipment lease

Police & Community SafetyContracts<UNKNOWN>

In Plain English

The city plans to upgrade its street light system but lacks upfront cash. Bank of America Merrill Lynch will lease equipment to the city for up to $5 million. If approved, the city makes lease payments over time instead of paying the full cost immediately.

Auto-generated summary. Source: official agenda documents.

Votes

Adopt Resolution No. 72-13

Moved by: Councilmember BatesSeconded by: Vice Mayor Booze
Passed