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CITY OF SAN BERN ° IDINO - REQUEST Fr-1 COUNCIL ACTION
From: JOHN MURPHY, PURCHASING MANAGER Subject: LEASE PURCHASE AGREEMENT WITH KOCH
FINANCIAL CORPORATION FOR THE FINANCING
Dept: FINANCE/PURCHASING OF EIGHTEEN (18) AUTOMATED SIDE LOADING
REFUSE TRUCK CAB AND CHASSIS AND BODIES.
Date: APRIL 4, 1995
Synopsis of Previous Council action:
February 6, 1995 adopted resolution 95-30
,nMlf . I-FT'T r+rj
APP' 9, •f,
Recommended motion:
Adopt Resolution
Signature
;ontactperson: John Murphy, Purchasing Manager Phone: ext. 5085
supporting data attached: Ward:
=UNDING REQUIREMENTS: Amount: $2 ,398,286.25
Source: (Acct. No.) 19-"7
(Acct. Description) ..�
Finance:_
:ouncil Notes: `
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`T/A
5-0262 Agenda Item No
CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
STAFF REPORT
This resolution is for Council to approve Schedule 95-001 to the
approved master lease of Koch Financial Corporation. The Council
awarded resolution 95-30 to Southcoast Peterbilt for the purchase
of eighteen (18) automated side loading refuse vehicle cab and
chasis. Purchase order 006321 was issued to the vendor per Council
direction. Also, resolution 95-31 was awarded to Amrep Inc. for
the purchase of eighteen (18) each automated side loading vehicle
bodies. Purchase order 006320 was processed to facilitate same.
The best advantage financing arrangement has been identified as
Koch Financial Corporation and recommended to Council for approval
to finance this purchase.
The lease purchase amount to finance is $2, 053 , 910. 61 at 5.845%
interest. Payments are semi-annually in arrears for a total of six
payments of $239,828.62. The total payout will be $2,398,286.25.
The total cost to finance is $344, 375. 64 .
C I T Y OF S A N B E R N A R D I N O
INTEROFFICE MEMORANDUM
CITY ADMINISTRATOR'S OFFICE
TO: Mayor and Common Council
FROM: Shauna Clark, City Administrator
DATE: May 1, 1995
SUBJECT: Council Agenda Item - Refuse Side Loaders
COPIES:
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Currently there is a total of 70 trucks in the City's refuse fleet.
These trucks are divided roughly equally between commercial and
residential collection, and last an average of ten years.
The 18 side loaders we are purchasing are for residential
collection. This will bring our side loader fleet to 37, which is
the number necessary for our citywide recycling program. Ten
displaced rear loaders will then be sold at auction.
The contract for the side loaders was approved at a previous
meeting. Today's action is for a financing mechanism.