Laserfiche WebLink
Staff Report to the Mayor and City Council <br />Aerial Device Truck Lease <br />January 19, 2010 <br />Page 3 <br />FISCAL IMPACTS <br />The Electric Utility Department included funds in its FY 09/10 budget for the lease of various <br />transmission and distribution equipment in Account Number 520-8000-8004-2420-0931-000. <br />Sufficient funds are available for the annual lease payment of $106,783.43, in the current fiscal <br />year. <br />Account Name: Electric/T&D Equipment Lease <br />Account Number: 520-8000-8004-2420-0931-000 <br />Annual Amount: $106,783.43 <br />ALTERNATIVES <br />1. Council may direct the City Manager to execute a rental abatement lease agreement with <br />Key Government Finance, Inc., with an annual lease payment of $106,312.43, and <br />authorize staff to purchase rental interruption insurance, at an estimated of $1,500 <br />annually for the duration of the lease. <br />2. Provide alternative direction to staff. <br />ATTACHMENTS <br />Resolution No. P2-- Da,- 10 <br />Master Lease Agreement with PNCEF, LLC, dba PNC Equipment Finance <br />Lease Schedule 129923000 <br />ORANG E\AMORRI S\64154.1 <br />