AGENDA CAPTION:
Title
Consider approval of Resolution 2019-39R, approving an addendum to the Master Lease Purchasing Financing Agreement with US Bancorp Government Leasing and Finance, Inc. that adds a dump truck, water truck, backhoe, steel roller, skid steer and trailer for the Public Services, Transportation Division as vehicles to be financed under the Agreement in the amount of $524,550.60, inclusive of interest, for a seven year term; authorizing the City Manager or his designee to execute all appropriate documents associated with this transaction; and declaring an effective date.
Body
Meeting date: March 5, 2019
Department: Public Services Department...Tom Taggart, Executive Director (By Lynda Williams, Purchasing Manager)
Amount & Source of Funding
Funds Required: $74,935.80 Annually for FY20-26
Account Number: CAPF-GENERALC-VEHICLE-STREET
Funds Available: Appropriated in FY20 Budget
Account Name: Capital Outlay-Street Equipment
Fiscal Note:
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Background Information:
Quotes were obtained and the best interest rate was from US Bancorp Government Leasing & Finance, Inc at 3.26% for a seven (7) year term: the amount financed for the equipment listed below is $462,330....
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