Tax-Exempt Lease Purchase Financing

At a glance

• What: A master tax-exempt lease purchase with BankFunding, LLC for $2,733,763, with an annual payment of $443,846 paid from the Wastewater and Airport budgets within the approved Fiscal Year 2026 budgets.
• Status: Approved on the June 15, 2026 consent agenda (unanimous, Carpenter/Litwin).
• Next: CAO Schad or designee executes the lease, subject to review by counsel.

Detail

The minutes record no discussion and do not say what equipment is being financed. Related borrowing the same night: Grant Anticipation Notes.

Sources

• Minutes, City Council, June 15, 2026 (item 6.4): https://burlingtonvt.api.civicclerk.com/v1/Meetings/GetMeetingFileStream(fileId=20468)

Log

2026-06-15 - City Council

Consent item 6.4, adopted with the consent agenda.