AGENDA ITEM SUMMARY

Consider for approval the acquisition of a Caterpillar model 730C off road dump truck for use at the Shoal Creek Landfill, a 953D Track Loader for use in the Stormwater Dept, and a Model 312E Track Hoe for use in the Street Dept.

on a Multi-Year Government lease from Yancey Brothers Inc. in the amount of $854,668.00.   Director of Public Works & Utilities Brant Keller will address.  Approved

Upon approval, the three above referenced units will be invoiced separately for accounting functions and monthly lease charges booked to each department.

This a multi-year maintenance and lease agreement, and mirrors the same agreement utilized for the acquisition of the 826 Landfill Compactor that the City of Griffin took delivery on earlier in FY/14. The lease period is for 5years each and at the end of the lease period, the City can buy out the equipment for the listed buy out price or, utilize the buy out figures as a down payment on a new lease for the same type of unit, but a new one will be delivered and the lease period will begin again. Attached is a Resolution, Sales Order,  multiple asset governmental lease schedule for the total of the three units, and associated sample lease documents which upon approval, will be completed by CAT Financial and sent to the City for processing.

Staff recommends approval.

$450,125.00 for Model 730C...................  Budgeted

$181,776.00 for Model 321E...................  Budgeted

$223,767.00 for Model 953D...................  Budgeted