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9 <br />CITY OF COLTON <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF FEBRUARY 3, 1998 <br />TO: HONORABLE MAYOR &CITY COUdCIL <br />APPROVAL: HENRY T. GARCIA, CITY MANAGE <br />FROM: ANNA A. VEGA, FINANCE DIRECTOR Wr <br />SUBJECT: ADOPT THE ATTACHED RESOLUTION TO ENTER INTO A FIVE-YEAR LEASE <br />PURCHASE CONTRACT FOR THE PURCHASE OF TWO STREET SWEEPERS TO <br />AMERICAN EQUIPMENT LEASING IN THE ANNUAL AMOUNT OF $61,927.00 <br />DATE: JANUARY 26, 1998 <br />BACKGROUND <br />At the Council meeting of October 7, 1997, the Council approved the purchase of two street sweepers. <br />At The Council meeting of October 21, 1997, the City Council authorized the City Manager to negotiate a <br />five-year lease purchase contract within the budgeted amount of $62,500.00. <br />DISCUSSION/ANALYSIS <br />Attached is a copy of the lease agreement for your review and approval. <br />ALTERNATIVES <br />None <br />FINANCIAL IMPACT <br />The City Council approved a budget of $62,500 for the lease purchase of two street sweepers in the <br />1997-98 Storm Water budget. <br />ENVIRONMENTAL IMPACT <br />None <br />RECOMMENDATION <br />Staff recommends Council adopt the attached resolution to enter into a five-year lease purchase contract <br />for the purchase of two street sweepers to American Equipment Leasing in the annual amount of <br />$61,927.00. <br />Report prepared by Mary J. Milroy, Purchasing Coordinator <br />Attachments: None <br />Page 1 of 1 <br />Item # 26 <br />