AGENDA CAPTION:
Title
Consider approval of Resolution 2021-111R, approving an addendum to the Master Lease-Purchase Financing Agreement with Santander Inc. to add a tractor, trailer, roadway patcher, and two dump trucks for use by the Streets Division of the Public Works Department to be financed under the agreement in the amount of $793,977.94, 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: July 6, 2021
Department: Public Works Department, Sabas Avila, Interim Director (by Lynda Williams, Purchasing Manager)
Amount & Source of Funding
Funds Required: $113,425.42 October 1, 2021 (FY22)
Account Number: 10001280.52112
Funds Available: $28,092.55 (FY21)
Account Name: Vehicle/Equipment Finance Payments
Fiscal Note:
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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: Dumptruck (2) and Tractor from Rush Truck Centers, Trailer from Cooper Equipment Co., and a Roadway Patcher from Santex Truck Center.
The City received proposals to finance the listed equipment for the Transportation Division, Public Works Department. O...
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