CHARLESTON, W.Va. — The Charleston City Council on Monday approved an agreement for purchasing around $1 million in equipment during the ongoing fiscal year.
The $994,5000 agreement with US Bank includes five years of payments with an interest rate of more than 1.25%. The payment plan includes 10 payments of $102,904.58, of which $34,545.82 is interest.
Bank Funding submitted a similar bid with a 1.54% interest rate.
The city uses the funding for purchasing vehicles and equipment for departments. The city’s current fiscal year goes through June 2021.