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Form #: B-52 <br /> 7/18/91 <br /> DEPARTMENT OF FINANCE <br /> REQUEST FOR COUNCIL ACTION <br /> DEPARTMENT: Public Works - Highways DATE: 8/21/19 <br /> STAFF CONTACT: Neil Azevedo/L'oreal Simmons PHONE: 961-8349 <br /> A. REQUEST: <br /> Resolution authorizing the Mayor to enter into a multi-year lease agreement for a period of five (5) years for a <br /> Excavator (CAT 315F) for the Department of Public Works - Highways Division. <br /> B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED): <br /> The Excavator is essential to complete projects in a timely manner. Districts currently borrow from other <br /> districts and projects are coordinated when equipment is avaliable. Due to the amount of projects, the <br /> additional equipment will increase efficiency and arnount-of work done due to the Excavator being avaliable <br /> for use instead of waiting for one district to complete a project before starting a new one. <br /> The Excavator will be leased for a period of five (5) years. The purchase is estimated at $200,000. The <br /> estimated monthly cost of the lease is $3,400. <br /> Funding for the lease is included in the FY 2019-2020 Budget. This equipment will be leased financed such <br /> that the County will own the equipment at the end of the five (5) year lease. <br /> SIGNED: DATE: SEP 0 3 2019 <br /> Department Head <br />