File #: RES 20-52    Version: 1 Name: Pierce Velocity Pumper Lease
Type: Resolution Status: Passed
File created: 11/19/2020 In control: City Council Regular Meeting
On agenda: 12/15/2020 Final action: 12/15/2020
Title: A Resolution of the Mayor and City Council approving the Master Lease-Purchase Agreement, and associated documents, to acquire a Pierce Velocity Pumper Apparatus and authorizing the City Manager to execute all documents related thereto. Discussion and Action.
Sponsors: Matt Kozlowski
Attachments: 1. Resolution, 2. CC627 Discount Recap, 3. Pumper Lease Quote, 4. Lease Agreement

TITLE

A Resolution of the Mayor and City Council approving the Master Lease-Purchase Agreement, and associated documents, to acquire a Pierce Velocity Pumper Apparatus and authorizing the City Manager to execute all documents related thereto.  Discussion and Action.

 

AGENDA ITEM DESCRIPTION

The Fire Department is purchasing a Pierce Velocity Pumper Apparatus from Pierce manufacturing. It was decided to purchase this apparatus through a lease purchasing agreement with PNC Equipment Finance, LLC (financing group utilized by Pierce). This purchase was previously approved by the City Council but PNC Equipment Finance, LLC requirements state that in order to finalize the agreement a resolution must be passed. The resolution must state that the City Council is authorizing the City Manager to sign the lease purchase agreement on behalf of the City. The lease purchase agreement is a three year agreement with a principal amount not exceeding $843,268.82.

 

STAFF RECOMMENDATION

Staff Recommends Approval.