Syracuse approves a $1.8 million lease-purchase for a fire engine and water tender
The City Council approved a lease-purchase on Sept. 8, 2026 for a $1.2 million fire engine and a $600,000 water tender, paid in five annual installments at a fixed 4.55%, according to draft minutes.
Continuing story: Auditing Syracuse
The Syracuse City Council authorized the mayor on Sept. 8, 2026 to sign a lease-purchase agreement for a fire engine and a water tender, according to draft minutes included in the council's Oct. 13 packet. [1]
Councilmember Paul Watson moved to approve Resolution R26-35 and Councilmember Julie Robertson seconded. The draft minutes record the motion as passing. [1]
The terms
The lease is with ZMFU II, Inc., a Zions Bank subsidiary. It covers a fire engine at $1,200,000 and a water tender at $600,000, a combined $1.8 million. [1]
The city would make five annual payments over four years at a fixed 4.55% rate, the first on Sept. 30, 2026 and the last on Sept. 30, 2030. The equipment becomes city property once the lease is paid off. [1]
The council's Oct. 13 consent agenda included declaring a 2011 Kenworth fire tender surplus property. [1]
These details come from draft minutes that were on the council's Oct. 13 agenda for approval. An approved payment schedule is not proof of payment or delivery. This lease is separate from the refinancing of the fire station bonds.
Sources
Reporting by The Utah Ledger from the public records above. AI-assisted, checked against those records.