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 weeks, the City’s order through Johnson Grayson Automotive would be reduced to 10 units by General Motors. The Police Department was able to obtain 8 additional Chevrolet Tahoe units and 2 Chevrolet Silverado Trucks from Caldwell Country off of the BuyBoard Contract #601-19 for Vehicles, Heavy Duty Trucks, Police Motorcycles, Parts and Service Labor.
This is a $0.00 change to the financing agreement and only a change to the description from twenty 2020 Police Chevrolet Tahoes to eighteen (18) 2020 Police Chevrolet Tahoes and two (2) 2020 Chevrolet Silverados.
Council Committee, Board/Commission Action:
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Recommendation:
Recommend amendment to Master Lease-Purchasing Financing Agreement with US Bancorp Government Leasing and Finance, Inc.