Changes to the way the city finances its acquisitions of vehicles and machinery were approved during Monday night's city council meeting.
Specifically, the city will switch to capital leases from operating leases which will allow the city to own the units. The leases will be set of the unit, 8-10 years and 100,000 to 135,000 km for kilometre based units and 10-12 years for engine-hour based units.
The move will save the city "literally millions of dollars" said Coun. Cameron Stolz, who sits on the finance and audit committee. Additional work is still being done on whether outright purchases are an even better step, he added.
