HomeMy WebLinkAboutRES 291 Draft 01 1988-1992COUNTY OF HAWAt~r~ <„ STATE OF HAWAII
RESOLUTION No. z~1 91
WHEREAS, Section 10-11 of the County Charter requires that any
contract, lease, or other obligation requiring payment of funds from
the appropriations of a later fiscal year or more than one fiscal
year be approved by resolution, and
WHEREAS, it is essential for the County of Hawaii to have a
minimum of thirty-five (35) dependable refuse trailers operating
seven (7) days per week islandwide for solid waste operations; and
WHEREAS, the County has nine (9) 1973 and ten (10) 1977 refuse
trailers which need to be taken out of regular service due to
maintenance costs which eaceed their valuation; and
WHEREAS, there is no available rental replacements for refuse
trailers; and
WHEREAS, the County Council, at its September 19, 1990 meeting,
approved the Chief Engineer's program of replacing eight (8) refuse
trailers a year on a five (5) year cycle; and
WHEREAS, the County wishes to enter into a five (5) year
contract to lease with purchase options for sixteen (16) refuse
trailers for solid waste operations; and
WHEREAS, the sixteen (16) new refuse trailers will initiate the
first two (2) years of a five (5) year replacement cycle for the
entire refuse trailer fleet; and
WHEREAS, bid prices have already been received for eight (8)
refuse trailers during the 1990-91 fiscal year with delivery
continuing into the 1991-92 fiscal year; and
WHEREAS, necessary bid proceeding for eight (8) additional
refuse trailers will be initiated to effect delivery within the
1991-92 fiscal year.
NOW, THEREFORE, BEFIT RESOLVED THAT THE COUNCIL OF THE COUNTY OF
HAWAII hereby authorizes the Mayor to enter into a five (5) year
lease agreement with purchase options for the acquisition of sixteen
(16) refuse trailers for solid waste operations islandwide.
BE IT FURTHER RESOLVED that the Clerk transmit copies of this
resolution to the Mayor's Office and the departments of Finance and
Public Works.
DATED: Hilo, Hawaii,
March 6, 1991
INTRODUCED BY:
tai
+~~'~~''
COUNCIL MEMBER, COUNTY OF HAWAII
COUNTY COUNCIL
County of Hawaii
Hilo, Hawaii
I hereby certify that the foregoing RESOLUTION was by
the vote indicated to the right hereof adopted by the COUNCIL
of the County of Hawaii on March 6 . 1991
ATTEST:
COUNTY~K AIRMAN & PRESI ING OFFICER
ROLL CALL VOTE
AYES NOES ABS EX
ARAKAKI X
DE LIMA
DOMINGO X
HALE
KOKUBUN X
LAI
MAKUAKANE X
RUDDLE X
SCHUTTE
Reference C-2308/FC - 350
RESOLUTION NO. 29~, 91
REFUSE TRAILER LEASE ANALYSIS - BID PROPOSAL 1332
DPW, Solid Waste Division - 2/5/91
; PACIFIC MACH ; BACON UNIV ; GE CAPITAL*
UNIT PURCHASE PRICE ; 53,082.94 ; 62,437.00 ; 53,082.94
UNIT MONTHLY PAYMENT 957.68 ; 1,246.19 ; 1,060.65
UNIT ANNUAL COST ; 11,492.16 14,954.28 12,727.75
60 Unit Months Payroents ; 57,460.80 ; 74,771.40 63,638.73
Unit Buyout (@ 60 mos) ; 7,148.69 ; 0.00 ; 0.00
Unit Repurchase Price ; 0.00 ; 0.00 ; 0.00
5 YEAR COST PER UNIT ; 64,609.49 ; 74,771.40 ; 63,638.73
Unit Purchase Price ; 53,082.94 ; 62,437.00 ; 53,082.94
Cash Flow End Year 1; (11,492.16); (14,954.28); (12,727.75)
Cash Flow End Year 2; (11,492.16); (14,954.28); (12,727.75)
Cash Flow End Year 3; (11,492.16); (14,954.28); (12,727.75)
Cash Flow End Year 4; (11,492.16); (14,954.28); (12,727.75,)
Cash Flow End Year 5; (18,640.85); (14,954.28); (12,727.75)
Interest Rate (assumed); 7.OQ%; 7.00°.6; 7.00%
PRESENT VALUE PER UNIT (52,217.04); (61,315.50); (52,186.27)
BREAK-EVEN INTEREST RATE ; 6.43%; 6.33%; 6.37%
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* Based on lowest purchase price furnished by Pacific Machinery.
Monthly pay[aant in arrears based on $19.98091/$1,000 with $0.00/$1,0