Comptroller’s Office completes $9.6 million tax-exempt lease purchase for new St. Louis Fire Department safety equipment
Using an existing lease/purchase agreement allowed the city to attain a very low cost-of-borrowing of 1.3 percent on the purchase.
This article is 3 years old. It was published on September 1, 2020.
(ST. LOUIS – September 1, 2020) Today, Comptroller Darlene Green announced the close of a purchase agreement for $9.6 million to provide new self-contained breathing apparatus (SCBA) and radio equipment to the St. Louis Fire Department.
Financing was arranged under the city’s existing (2017) master tax-exempt lease/purchase agreement with U.S. Bancorp.
“Using this existing lease/purchase agreement allowed the city to attain a very low cost-of-borrowing of 1.3 percent on the purchase,” said Comptroller Green. “The new radio and safety equipment will support our first responders as they continue providing the highest-quality emergency services to our community.”
“This new life-saving equipment will bolster the confidence and drastically improve the safety for all our members during our operations," said Fire Chief and Commissioner Dennis Jenkerson. "We are thankful for the unwavering support from our city leaders, providing the essential equipment for front line public safety members.”
“I am gratified that we were able to provide the St. Louis Fire Department with additional tools they need while protecting taxpayer dollars,” said Comptroller Green
The $9.6 million for new SCBA and radio equipment is in addition to recent voter-approved bond issues that funded fire department vehicle replacements and fire station renovations.
Comptroller Darlene Green is the chief fiscal officer of the City of St. Louis and is charged with safeguarding the city’s credit rating and with protecting taxpayer dollars. She is the recipient of the 2019 Women in Public Finance Lifetime Achievement award. Visit www.stlouis-mo.gov/comptroller to learn more about the Office of the Comptroller.
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