City Council

Item 201:\nMaster Lease Agreement to Finance General Fund Vehicles and Equipment and\nSolid Waste Management Fund Refuse and Recycling Bins.\nThis item will be considered in the afternoon session which is scheduled to begin at\n2:00 p.m.\nTotal Estimated Cost of Proposed Action and Funding Source:\nThe City utilizes the Equipment and Vehicle Financing Program (EVFP) as a leasepurchase financing option to fund certain as-needed eligible essential equipment and fleet\nneeds. Currently, staff is seeking authorization to finance General Fund vehicles in an\namount not-to-exceed $40.5 million and Solid Waste Management Fund refuse and\nrecycling bins for the Environmental Service Department in an amount not-to-exceed\n$41.5 million.\nCouncil District(s) Affected: Citywide.\nProposed Actions:\n(O-2026-27)\nIntroduction of an Ordinance approving the City of San Diego’s Master Lease Agreement\nwith Banc of America Public Capital Corporation for the purpose of financing the\nacquisition of General Fund vehicles and equipment and Solid Waste Management Fund\nrefuse and recycling bins in an amount not-to-exceed $82,000,000 and taking other related\nactions and declaring its official intent to reimburse itself from the proceeds of tax-exempt\nlease-purchase obligations.\n6 votes required pursuant to Charter Section 99.\nCommittee Actions Taken: N/A\nDebt Management: Marisol Valdovinos, (619) 236-6903\nCity Attorney Contact: Marguerite Middaugh