Morton said the city will trade in five of its oldest trucks when the new trucks are delivered.
The leasing program allows the city to purchase these five trucks with equal payments. Also, Morton said, by leasing the trucks, the city is taking advantage of better trade values of its older trucks.
Morton said six months ago, the city received a quote to purchase a dump truck for $187,382. But since June 17, the price jumped to $213,224, or 13%, he told council.
The city can lease the trucks for $168,925 per year or $844,625 for five years, he said. Purchasing one truck this year would cost the city $213,224, and based off a 5% increase every year, the city would spend $1,178,197 to purchase five trucks over five years.
The benefits of leasing, according to Morton, include replacing multiple trucks at one time, trucks hold a higher value when traded in at the five-seven year period that drives down the payment on new trucks, and maintenance costs of the trucks remain low because they’re maintained within the warranty.
In other news:
Three Monroe patrol officers were sworn-in Tuesday night by Law Director Philip Callahan. The new officers: Zachary Bryan, a Wright State University graduate who worked as a Monroe dispatcher, then worked for the Lexington (Ky.) Police Department; Matthew Buddo, a Butler Tech graduate who worked for the Trotwood Police Department and the Lebanon Correctional Institution; and Michael Willis, a Miami University graduate who worked for the Fairfield Twp. Police Department.
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