AGENDA CAPTION:
Title
Consider approval of Resolution 2021-115R, approving an addendum to the Master Lease-Purchase Financing Agreement with U.S. Bancorp Government Leasing and Finance, Inc. that adds a Combination Truck (Excavator) for use by the Water/Wastewater Division of the Utilities Department to be financed under the agreement in the amount of $333,146.20, 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 effective date.
Body
Meeting date: July 6, 2021
Department: Utilities Department, Tyler Hjorth, Interim Director (by Lynda Williams, Purchasing Manager)
Amount & Source of Funding
Funds Required: $47,592.31 FY21
Account Number: 22006335.52112
Funds Available: $140,000.00
Account Name: Vehicle/Equipment Finance Payments
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Background Information:
Under separate Agenda Item on this date July 6, 2021, are the following equipment to be purchased and financed is a Combination Truck.
The City received proposals to finance the listed equipment for the Utilities Department. Of proposals received with the best interest rate, U.S. Bancorp offered an interest rate of 1.79% for a seven (7) year term. The total amount or the equ...
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