Title
AN ORDINANCE AUTHORIZING THE LEASE OF EQUIPMENT AND THE EXECUTION BY THE CITY OF A MASTER LEASE AGREEMENT WITH DEERE CREDIT, INC. AND RELATED DOCUMENTS; AUTHORIZING THE CITY MANAGER TO EXECUTE RELATED SCHEDULES; SETTING FORTH PARAMETERS AND RESTRICTIONS; AND PROVIDING FOR OTHER RELATED MATTERS.
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Summary and Background Information: The City leases large equipment that would be cost prohibitive to purchase outright. Leasing equipment also allows the City to get new equipment every three years which results in less maintenance hours spent by the City’s Fleet maintenance staff.
Lease schedules to follow upon completion of the Master Lease Agreement. Lease schedules are dependent on the individual pieces of equipment that are being leased.
Staff Responsible (Department Head): Joe Wilson, Director of Public Works
Staff Member Presenting: Joe Wilson, Director of Public Works
Matt Thomason, Fleet & Facilities Manager
Financial Impact: $360,016.92 for the 3-year lease
Funding Source: Fleet Management Budget
Staff Recommendation: Staff recommends authorization of lease for John Deere equipment.
Suggested Motion: I move to introduce ordinance 2202 by Council as seated and approve the ordinance on first reading.