Title
Authorization to seek bids to obtain lease-purchase financing for a new Pierce Velocity PUC (Pierce Ultimate Configuration) Pumper Fire Truck.
Body
Summary:
The Fire Department was approved to purchase a new Pierce Velocity PUC (Pierce Ultimate Configuration) Pumper Fire Truck in October 2019. The new unit will replace Engine 11, which will remain as a reserve (back-up) apparatus while the current back-up apparatus will be used as a trade-in. This pumper truck is being purchased from Siddons-Martin Emergency Group through the Houston-Galveston Area Council Cooperative Purchasing Program at a cost of $1,142,914. An amount of $14,000 is included in the current fiscal year budget for one month of the lease cost and $168,000 is included in the FY 2020-2021 budget for the first full year of lease payments. 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 2020-2021 budget includes an amount of $168,000 in Account No. 010-311-49080, Lease Purchase for the first full year of the lease payments.
Recommended action:
Authorize the City to seek bids to obtain lease-purchase financing for a new Pierce Velocity PUC (Pierce Ultimate Configuration) Pumper Fire Truck.