26BUDGET(FULL-LINKED) - Flipbook - Page 98
City Of Plymouth 2025 / 2026 Budget
10. Short Term Financing/Capital Lease Debt
10.1 Short-term financing or capital lease debt will be considered to finance certain
equipment and rolling stock purchases when the aggregate cost of equipment to be
purchased exceeds $100,000. Adequate funds for the repayment of principal and
interest must be included in the requesting service area's approved budget.
10.2 The term of short-term financing will be limited to the usual useful life period of the
vehicle or equipment, but in no case will exceed ten years.
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