2003 AGN JAN 07 I12 - Laserfiche WebLink

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CITY OF COLTON AGENDA REPORT FOR CITY COUNCIL MEETING OF JANUARY 7, 2003 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: DILU DE ALWIS, FINANCE DIRECTOR ij, Item #12 SUBJECT: ADOPT THE ATTACHED RESOLUTION TO ENTER INTO A THREE-YEAR LEASE CONTRACT FOR A VEHICLE FOR THE CITY MANAGER WITH VOLKSWAGEN CREDIT FOR A MONTHLY AMOUNT OF $335.32 DATE: DECEMBER 23, 2002 BACKGROUND On December 20, 2000, the City entered into a lease agreement with Ford Motor Credit for a two-year lease of a 2001 Ford Crown Victoria, for use by the City Manager in accordance with his contract. The lease payment was $620.65 per month and the lease expired December 20, 2002. The Police Department purchased the vehicle for the residual value or $13,515.06. The City Manager is requesting the City enter into a new lease with Volkswagen Credit for a Volkswagen Passat, in accordance with the terms of his contract. The lease will be for a three-year period at a cost of $335.32 per month. This is a savings of $285.33 per month over the previous lease. DISCUSSION/ ANALYSIS Staff solicited quotations for a 2003 Volkswagen Passat, GL Sedan, for a three-year lease term. Proposals were received from the following vendors for a three-year lease: VENDOR: MONTHLY PAYMENT DOWN PAYMENT 1. Freeway Lincoln Mercury, VW Inc., San Bernardino, CA $ 335.32 $ 571.32 2. Riverside Volkswagen, Riverside, CA $ 339.09 $ 536.09 3. Bozzani Volkswagen , Covina, CA $ 372.00 $1,260.00 ALTERNATIVES Provide City Manager with $500 per month auto allowance per his contract. FINANCIAL IMPACT Funds are available in the City Manager's Equipment Lease Account Number 100-6020-6020-2420. ENVIRONMENTAL IMPACT None RECOMMENDATION Staff recommends Council adopt the attached resolution to enter into a three-year lease contract with Volkswagen Credit, through Freeway Lincoln, Mercury, VW, Inc., for a 2003 Volkswagen, Passat, in the amount of $335.32 per month. REVIEW TEAM ONLY City Attorney: Finance City Manager: Tp OTHER: 11