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Form#: B-52 <br /> 7/18/91 <br /> DEPARTMENT OF FINANCE <br /> REQUEST FOR COUNCIL ACTION <br /> DEPARTMENT: Public Works DATE: 08/14/2014 <br /> STAFF CONTACT: Ronald L. Thiel PHONE: 961-8341 <br /> A. REQUEST: <br /> DPW-Traffic Division is requesting a resolution authorizing the payment of funds, in a later year and for more <br /> than one fiscal year, for a multi-year lease to purchase a Bucket Truck for the Signals & Street Lights <br /> section. The lease to purchase would be for a term of no more than five (5) years. <br /> B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED): <br /> The Traffic Division is currently in need of replacement Bucket Truck for streetlight installation and <br /> conversion from low pressure sodium (LPS)to light emitting diodes (LED) lights. Current vehicle is 12 years <br /> old and the reach of the 33' boom extension is short with new streetlight installations in West Hawai'i. This <br /> new equipment request will increase the productivity and ability of the Signals& Street Light crews to install <br /> new conversions, repair and maintain existing signals and streetlights that service the public. <br /> Anticipated costs are approximately $250,000 with interest over a five year lease to purchase term. <br /> Estimated lease cost is approximately$4,167.00 per month or$50,000 annually to begin upon estimated <br /> delivery date of January 2016. <br /> This purchase will be funded by the Highway Fund. <br /> SIGNED: AP DATE: 0/2i l y <br /> D part 'ent Head <br /> 14- 023 <br />