MOTION FAILED
The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #2021-123
Approving Master Equity Lease Agreement with Enterprise Fleet Management
WHEREAS, The City Administrator has proposed the lease of four new Ford pickups and has previously presented the Council with information about the proposed lease, and
WHEREAS, Enterprise is offering government agencies an equity lease arrangement for short term leasing of new fleet vehicles, and
WHEREAS, This is a hybrid between a typical lease and a purchase/finance arrangement, with the City retaining possession of the equity in the resale value of the vehicle.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve of the Master Equity Lease Agreement with Enterprise Fleet Management.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 1st day of November, 2021.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk