AGENDA ITEM SUMMARY
Consider the lease purchase of a Menzi Muck M540 4x4 Walking Excavator from Reynolds-Warren Equipment Company, Inc., in the amount of $416,000.00 for the Stormwater Utility Department of the Public Works and Utilities Department. Director of Public Works and Utilities Director Brant D. Keller will address.
| SPECIAL CONSIDERATIONS OR CONCERNS: |
This is a sole source item. Warrens - Reynolds is the Menzi Muck distributor for Georgia. This approval is to authorize the lease-purchase process in order to have the unit in the production schedule. The lead time is 120 to 150 days.
Staff recommends approval.
Budgeted FY 2016-2017 CAP2017-4620-9-22 in the amount of $416,000.00. The leasing agency for financing will be selected when the item is close to delivery. Quotes are only good for 60 days and Finance will secure the method of financing. This unit will be a lease to own at the end of five years. Amount of unit is $416,000.00 which is the amount budgeted in the above-noted line item. |