FY 2026-2027 Adopted Budget - GFOA Award Submission Edition - Flipbook - Page 89
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.
City of Plymouth FY 2026-2027 Budget
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