You did notice that this is a five (5) year contract, didn't you?  

And that  "The terms of the state lottery-backed grant requires the bike rental program to operate for at least 20 years,?

Unless Eugene wants to give back the $900,000, this is a Twenty (20) year experiment at a bike rental rate yet to be set by the out of State Corporation.

Please also note, that the cost being paid includes Eugene paying customs duties because these are 
Dutch bikes.