Title
Authorization to seek bids to obtain lease-purchasing financing for a new 2017 Freightliner M2-106-80 garbage truck for the Sanitation Department.
Body
Summary:
The Sanitation Department is requesting the purchase of a new 2017 Freightliner M2-106-80 Garbage Truck as a replacement for a 2009 Freightliner Garbage Truck with mileage of 44,383. This equipment will be purchased through the Houston-Galveston Area Council Cooperative Purchasing Program. As budgeted, the $181,375 cost of the Garbage Truck would be financed through a lease-purchase. An amount of $40,800 is included in the Fiscal Year 2016-2017 Sanitation Department budget to fund the first year of the lease-purchase financing for this equipment. The City would like to request bids for various financing options to determine the best alternative to fund this purchase.
Fiscal/Budgetary Impact:
The Fiscal Year 2016-2017 Sanitation Department Budget includes an amount of $40,800 in Account No. 10-402-4907, Large Trucks/Heavy Rolling Stock, for the first year of the lease payments.
Recommended action:
Authorize the City to seek bids to obtain lease-purchase financing for a new 2017 Freightliner M2-106-80 Garbage Truck for the Sanitation Department.