Acquiring the equipment needed to provide public services can be a challenge for any locality, given budget constraints and regulatory requirements. That’s why many state, local and tribal government organizations use tax-exempt municipal leases to fund essential equipment and real property. Municipal leases offer a flexible, more affordable pathway for localities of all sizes, including small, rural communities like Jefferson County, Mississippi.
Local Government Turns to Baystone for Financing Essential Equipment
Jefferson County is in the southwestern region of the state, an area abundant in timber and natural resources, history and neighborly residents. The county’s local government has turned to Baystone Government Finance, a division of KS StateBank, on a number of occasions over the years to finance essential equipment. This includes dump trucks that haul materials when repairs are needed to the 517 square miles of asphalt and gravel roads connecting Jefferson’s 7,800 citizens with work, school, worship, stores and public services in the City of Fayette, the county seat.
Baystone financed the dump trucks with tax-exempt municipal leases, which have significantly lower rates compared with traditional loans, among other benefits. This makes equipment more affordable and puts newer equipment within reach that’s often better suited for the job intended.
The dump trucks were supplied by Truckworx with the help of Samantha Raner in the dealer’s government truck sales division.
“It’s a big thing for us to be able to have access to the newer equipment needed to serve our citizens,” County Administrator Brenda Buck said about the dump trucks, which were pictured in a local newspaper story after their arrival.
As the head administrator of a small staff, all of whom have many other duties to fulfill, she also appreciated the ease of doing business with Baystone Government Finance. “It’s been a good experience… They were very cooperative with managing the necessary paperwork, and the process was pretty simple,” she noted.
Visit the Resources section of our website for information on the benefits of financing and answers to frequently asked questions about tax-exempt municipal leases.
For an overview of essential equipment and real property financing we provide to state, local and Indian tribal government organizations and select non-profits, visit our Direct Financing section.