AGENDA CAPTION:
Title
Consider approval of Resolution 2021-13R, approving an addendum to the Master Lease-Purchase Financing Agreement with U.S. Bancorp Government Leasing and Finance, Inc. to add an air sweeper, dump truck, and excavator to be financed under the agreement in the amount $521,387.35, 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: January 19, 2021
Department: Public Services Department - Tom Taggart, Director (By Lynda Williams, Purchasing Manager)
Amount & Source of Funding
Funds Required: $74,483.91 Annually for FY21-FY27
Account Number: 20006300-52112
Funds Available: Click or tap here to enter text.
Account Name: Click or tap here to enter text.
Fiscal Note:
Prior Council Action: Click or tap here to enter text.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Sustainability
Multi Modal Transportation
Downtown Vitality
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Public & Private Sector Partnership to Protect Water Quality & proper development in San Marcos and Blanco Rivers
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Multimodal transportaion network to improve accessibility and mobility, minimize congestion and reduce pollution
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
Quotes were obtained from three lenders and the best interest rate was from U.S. Bancorp Government Leasing and Finance, Inc., at 1.32% for a seven (7) year term; the amount financed is $501,445.9...
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