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CITY OF SAN BERN,.DINO
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- REQUEST F. COUNCIL ACTION
From: BARBARA PACHON,
DIRECTOR OF FINANCE
Subject:
AWARD A LEASE PURCHASE AGREEMENT TO
KOCH FINANCIAL CORPORATION FOR THE
FINANCING OF THREE (3) EACH AUTOMATED
FRONT LOADING REFUSE TRUCK CAB AND
CHASSIS AND BODIES.
Dept:
FINANCE/PURCHASING
Date:
KAY 10, 1995
Synopsis of Previous Council action:
NONE
Recommended motion:
ADOPT RESOLUTION
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Signature
Contact person:
JOHN MURPHY, PURCHASING MANAGER
Phone: ext. 5085
Supporting data attached:
Ward:
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I
N.
Amount: ':i3? '?tYI. 70
Source: (Acct. No.) /?-1- f'kJ -.5:103
(Acct. Descriotion) ?r'''' , nfll~ ." lO ,
Finance: ~I;~?<-;Yf td~ &.-....
6~ Fy'/19..J-~" *J~r60l.. /./n~ ~( tl;Ct~j? ~~I ~. ~;U A:1C?&~
0;/, ~/::du~ .iJ~ndli~) #71 0/4 kdU mtl{;k~ J
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Res q5 - /b1 ()
Agenda Item No. -,
FUNDING REOUIREMENTS:
Council Notes:
75-0262
.
.
CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
STAFF REPORT
This resolution is for council to approve Schedule 95-002 to the
approved master lease of Koch Financial Corporation. The Council
awarded resolution 95-108 to Inland Empire White/GMC for the
purchase of three (3) front loading refuse vehicle cab and chassis.
Purchase order 006388 was issued to the vendor per Council
direction. Also, resolution 95-109 was awarded to Amrep Inc. for
the purchase of three (3) each front loading vehicle bodies.
Purchase order 006387 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 $374,512.06 at 5.845%
interest. Payments are semi-annually in arrears for a total of ten
payments of $43,730.77. The total payout will be $437,307.70. The
total cost to finance is $62,795.64.
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BARBARA P CHON
DIRECTOR'OF FINANCE
JOHN MURPHY
HASING MANAGER