Equipment Lease / Schedule of Property No. 4(Ladder Truck and Enforcer Type 1) February 3, 2026
City Council
2 Background and Vehicle Needs
Salinas Fire Department needs two new Pierce Enforcer Type 1 engines, one new Pierce 100’ Enforcer Tractor Drawn Aerial, and a new BME Type 6 engine Total financing expected to be about $3.261 million, including financing costs City staff utilizing strategies to minimize purchase price of vehicles Example of a Pierce 100’ Enforcer Tractor Drawn Aerial
Example of a Pierce Enforcer Type 1 engine
Vehicle Type
Purchase Amount
Funding Source
Pierce Enforcer Type 1
1,043,425.32
Cash & Reserves
Pierce Enforcer Type 1
1,043,425.32
2026 Lease
Pierce 100' Enforcer Tractor Drawn Aerial
2,188,980.63
2026 Lease
BME Type 6 Wildland Engine
434,251.94
Cash & Reserves
Total Vehicle Cost
4,710,083.21
Financing Overview
City plans to utilize a tax-exempt equipment lease with Banc of America Public Capital Corp (BAPCC) to purchase the Tractor Drawn Aerial and Enforcer Type 1 engine Locked, fixed 7-year interest rate of 3.49%
Annual debt service payments of $530K
First payment due December 1, 2026
3 Summary of Legal Documents
4 Authorizing Resolution
2012 MELPA
Schedule of Property
No. 4
Escrow Agreement
Anticipated Timing for Equipment Lease
5 Questions?