HomeMy WebLinkAbout04-23-18 City Commission Packet Materials - C7. Lease Agreement with Caterpillar Financial Services for Motor Grader
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: John Van Delinder, Street Superintendent
Craig Woolard, Public Works Director
SUBJECT: Authorize the City Manager to sign a lease agreement with Caterpillar Financial Services Corporation (Tractor & Equipment Co.) for One (1) New Caterpillar Motor Grader
MEETING DATE: April 23, 2018
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Authorize the City Manager to sign a lease agreement with Caterpillar Financial Services Corporation (Tractor and Equipment) for One (1) New Caterpillar Motor Grader lease for a total of $244,231.00 over five years.
BACKGROUND: The Street Maintenance Capital Improvement Program budget was
approved to include $40,000 for an annual motor grader lease. The grader was bid in August
2017 and was awarded in September 2017. This grader will replace the 1994 motor grader used to plow residential streets in the winter and grade gravel streets in the summer.
UNRESOLVED ISSUES: None.
ALTERNATIVES: As suggested by the City Commission.
FISCAL EFFECTS: This item is in the Street Maintenance Capital Improvement Program
Budget for $40,000 per year.
Attachments: Lease Agreement
Report compiled on: 4/4/2018
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