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File #: Res. 2020-43R    Version: 1 Name:
Type: Resolution Status: Individual Consideration
File created: 2/3/2020 In control: City Council
On agenda: 3/3/2020 Final action:
Title: Consider approval of Resolution 2020-43R, approving an addendum to the Master Lease/Purchase Financing Agreement with US Bancorp Government Leasing and Finance, Inc. that adds eighteen 2020 Police Chevrolet Tahoes and two 2020 Chevrolet Silverados to be financed under the Agreement in the amount of $678,973.23, inclusive of interest, for a three-year term; authorizing the City Manager or his designee to execute all appropriate documents associated with this transaction; and declaring an effective date.
Attachments: 1. Resolution - Lease Purchase Agreement with US Bancorp.pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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AGENDA CAPTION:
Title
Consider approval of Resolution 2020-43R, approving an addendum to the Master Lease/Purchase Financing Agreement with US Bancorp Government Leasing and Finance, Inc. that adds eighteen 2020 Police Chevrolet Tahoes and two 2020 Chevrolet Silverados to be financed under the Agreement in the amount of $678,973.23, inclusive of interest, for a three-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 3, 2020

Department: Police Department - Bob Klett, Interim Chief (By Lynda Williams, Purchasing Manager)

Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A

Fiscal Note:
Prior Council Action: Approval of a financing agreement to finance twenty 2020 Tahoes in the amount of $678,973.23 on October 15, 2019.

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Background Information:
On October 15, 2019 council authorized an addendum to the Master Lease-Purchase Financing Agreement with U.S. Bancorp Government Leasing and Finance Inc., that added financing for twenty 2020 Police Chevrolet Tahoes in the amount of $678,973.23, inclusive of interest, for a three-year term.

On January 2, 2020, we were notified that resulting from the United Auto Workers strike of over eight ...

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