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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 <br /> six (6) 15CY Dump Trucks for the Department of Public Works - Highways Division. <br /> B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED): <br /> The 15CY Dump Trucks will replace older and aging models with high usage and in need of frequent repairs <br /> that are costly. The new equipment will help alleviate equipment repair and parts cost spent on older <br /> equipment that breaks down. It will also increase efficiency and amount of work done due to 15CY Dump <br /> Trucks being avaliable for use instead of in the repair shop. <br /> The six (6) 15CY Dump Trucks will be leased for a period of five (5) years. The purchase is estimated at <br /> $675,000. The estimated monthly cost of the lease is $11,400. <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 /> AUG 2 6 2019 <br /> SIGNED: DATE: <br /> ' Department Head <br />