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Item III (K) Approval and Authorization to Lease/Purchase (12) Yard Dump Truck Agenda 7-7-98 "CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" WARTIMmiSsloNER S.SCOTT VANDERGRIFT O� Ocoee COMMISSIONERS �yCITY OF O C OEE DANNY HOWELL tissiti 150 N.LAKESHORE DRIVESCOTT ANDERSON a SCOTT A.GLASS C. C OCOEE,FLORIDA 34761-2258 NANCY J.PARKER �+ v (407)656-2322 �yf '=' ��� CITY MANAGER 4 Op G00�s) ELLIS SHAPIRO WEEWIEO UMIK TO: The Honorable Mayor and City Commissioners FROM: Joyce Meridith, BuyeiKl `� fl DATE: June 29, 1998 (l�J RE: (12)Yard Dump Truck The budget for FY 97/98 included the lease-purchase of a (12) Yard Dump Truck. The City of Panama City bid this unit in April, 1998. After review of the proposal from Heintzelman's Truck Center by the Utilities and Finance Departments, staff recommends piggybacking on the City of Panama City Bid of April 3, 1998, per the attached memo from Jim Shira, City Engineer/Utilities Director. Staff contacted Commercial & Municipal Capital, SunTrust Bank, and Ford Motor Credit Company for financing. A) Commercial & Municipal Capital - interest rate 5.85% (4)year term. B) SunTrust Bank- interest rate 5.73%(4)year term. C) Ford Motor Credit Company -interest rate 5.35% (4) year term. RECOMMENDATION It respectfully is recommended that the City Commission approve piggybacking on the City of Panama City Bid of April 3, 1998 for the purchase of the (12) Yard Dump Truck and approve the Lease Purchase Agreement between the City and Ford Motor Credit Company and authorize execution thereof by the Mayor and City Clerk and further authorize the Mayor and City Clerk to execute all documents necessary to consummate the transaction contemplated by the Agreement. 10/� (SOY?Satt C •. • ].0 v © G n��rff OR 6000 v�i`�:3) JAMES W.SHIRA,P.E. CITY ENGINEER/UTILITIES DIRECTOR 150 N.LAKESHORE DRIVE•OCOEE,FLORIDA 34761 PHONE(407)656-2322 EXT.142•FAX(407)656-7835 MEMORANDUM DATE: July 1, 1998 TO: The Honorable Mayor and B d of City Commissioners FROM: James W. Shira, P.E. City Engineer/Utilif s Director SUBJECT: 12 Yard Dump Truck The FY 97/98 budget includes the lease purchase of a 12 yard dump truck for the Utilities Department to replace the Air Force surplus truck we now use. The existing truck has been declared by the O.U.C. garage to be un-roadworthy. The City of Panama City recently requested and received bids for a 12 yard dump truck. Based on our research and dealer inquiries, we have concluded that the bid price of$59,386.00 for this vehicle received by the City of Panama City is the best price we can expect. We therefore recommend that we purchase this vehicle using Panama City's bid, and request that the City Commission authorize the purchase in accordance with the June 29, 1998 memo from Buyer Joyce Meridith to the City Commission. THE PRIDE OF WEST ORANGE