Title
Authorization to seek bids to obtain lease-purchase financing for a new 2019 Freightliner M2-160 Garbage Truck for the Sanitation Division.
Body
Summary:
The Sanitation Division is requesting the purchase of a new 2019 Freightliner M2-160 Garbage Truck as a replacement for a 2008 Freightliner Garbage Truck with mileage of 55,000. This equipment will be purchased through the Houston-Galveston Area Council Cooperative Purchasing Program. As budgeted, the $191,804.00 cost of the Garbage Truck would be financed through a lease-purchase. An amount of $30,250.00 is included in the Fiscal Year 2019-2020 Sanitation 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 Sanitation Division Budget includes an amount of $30,250.00 in Account No. 010-402-49080, 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 Freightliner M2-160 Garbage Truck for the Sanitation Division.