Approval to enter into a leasing contract between Government Leasing Company and the Roswell Police Department (City of Roswell) to lease/purchase ten (10) 2026 Chevrolet Tahoe Police Package Vehicle (PPV), 4WD Black.  (Aldana)

Due to ongoing usage and wear of vehicles, the Roswell Police Department needs to replace vehicles on a regular basis.  This includes car crashes, factory recalls, etc. Currently, there is no replacement scheduled for any police department vehicles.  Switching to a lease program would allow the Roswell Police Department to better forecast and budget vehicle expenses, while maintaining newer vehicles for the department. 

The Roswell Police Department request to go into a leasing agreement to purchase ten (10) 2026 Chevrolet Tahoe PPV, 4WD.  The agreement is to lease/purchase the vehicles in five (5) payment installments.  By doing so, this would allow the ten vehicles to be more affordable than spending the total amount at one time.  This contract includes the ten (10) 2026 Chevrolet Tahoe PPV, 4WD and all emergency equipment.  The vehicles will be from Melloy Fleet out of Las Lunas, NM.  The outfitting is from American Emergency Products out of Albuquerque, NM.

If the vehicle is totaled during the lease, the City of Roswell files the insurance claim.  The City of Roswell then has the option of replacing the totaled car, paying for the car or reducing payment.

The leasing contract is as follows :

The total cost of the five (5) year leasing contract is $1,021,340.00

Five (5) yearly payments of $233,495.00

First annual payment due on 8/1/2026.

The vehicle(s) is then offered to purchase for $1.00 after completing all the Lease Payments.

Today's market rate is between 5.8-6% interest rate.

 

TBD

TBD

TBD