Title
Authorization to seek bids to obtain lease-purchase financing for a new 2019 Ford F-550 Chassis 4x2 SD Regular Cab with a Versa Lift SST-40-EIH (40 ft. telescopic aerial platform lift) for the Traffic Division.
Body
Summary:
The Traffic Division is requesting the purchase of a new 2019 Ford F-550 Chassis 4x2 SD Regular Cab with a Versa Lift SST-40-EIH (40 ft. telescopic aerial platform lift). This bucket truck would be purchased through the BuyBoard Cooperative Purchasing Program. As budgeted, the $101,975.00 cost of this truck would be financed through a lease-purchase. An amount of $26,440.00 is included in the Fiscal Year 2019-2020 Traffic Division 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 2019-2020 Traffic Division budget includes an amount of $26,440.00 in Account No. 010-405-49080, Lease Purchase, for the first year of the lease payments.
Recommended action:
Authorize the City to seek bids to obtain lease-purchase financing for a new 2019 Ford F-550 Chassis 4x2 SD Regular Cab with a Versa Lift SST-40-EIH (40 ft. telescopic aerial platform lift) for the Traffic Division.