| | | | | | | |  | ITEM 37.
Utilities - Consent |
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| | | | | | | | | DATE: | December 7, 2021
| | DEPARTMENT: | Utilities
| | REQUESTER: | Pamela Keyes
| | TITLE: | Approve Piggyback and Lease-Purchase of Vactor Vacuum Trucks |
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| | | | | | | | | I. | MOTION REQUESTED | | | A.) Approve Piggyback No. PBL210360CJV to utilize pricing on Sourcewell Contract 122017-FSC with Environmental Products Group for the purchase of two new Vactor 2100i Vacuum Trucks, in the amount of $428,115.00 each, for a total of $856,230.00.
B.) Approve master lease agreement with Signature Public Funding Corp. for the lease-purchase of two new Vactor 2100i Vacuum Trucks in the amount of $891,328.17, with a principal component of $856,230.00 and an interest component of $35,098.15. Vehicles are to be leased for a period of five years for an annual payment of $178,265.63. |
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| | | | | | | | | II. | ITEM SUMMARY | | | Awards a piggyback lease-purchase of two Vactor 2100i Vacuum Trucks using the Sourcewell Contract with Environmental Products Group, financed through Signature Public Funding Corporation in the total amount of $891,328.17, paid in five annual payments of $178,265.63. The trucks will be used for tasks such as water and sewer pipe cleaning, stoppage removals, and excavations. Funds are budgeted and were approved starting in FY22 and Board approved on September 21, 2021. |
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| | | | | | | | | III. | BACKGROUND AND IMPLICATIONS OF ACTION |
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| | | | | | | | | | A) | Board Action and Other History | | | | Three additional leasing quotes were obtained. They are as follows:
Republic First National – annual lease payment $189,586.82 x 5 years = $947,934.10
Leasing 2 – annual lease payment $181,967.39 x 5 years = $909,821.95
NCL Government Capital – annual lease payment $180,121.48 x 5 years = $900,607.40.
Awards a piggyback lease-purchase of two Vactor 2100i Vacuum Trucks using the Sourcewell Contract, 122017-FSC, with Environmental Products Group, financed through Signature Public Funding Corporation in the total amount of $891,328.17, paid in five annual payments of $178,265.63.
One truck will be used by Water Distribution, which is a new addition to the fleet due to the increased amount of water infrastructure and contributed assets. The second truck will be used by Wastewater Collections and replace a similar truck that has exceeded its useful life and was sold at auction. The new trucks will increase the efficiency and timeliness of repairs, improve team safety while working on excavations, and limit restoration costs associated with traditional excavations. |
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| | | | | | | | | | D) | Analysis | | | | This is a five-year lease with annual payments that will be budgeted in the amount of $178,265.23 for Fiscal Years 2022 - 2026. |
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| | | | | | | | | | A) | Current year dollar amount of item:
| $178,266 | | | B) | Is this item approved in the current budget? | Yes | | | C) | Is this a revenue or expense item? | Expense | | | D) | Is this Discretionary or Mandatory? | Discretionary | | | E) | Will this item impact future budgets?
If yes, please include reasons in III(D) above.
| Yes | | | F) | Fund: Utilities Operating
Program: Utilities
Project:
Account Strings: GE5369048700 | | | G) | Fund Type? | Enterprise | | | H) | Comments:
This is an annual amount budgeted for FY22. The same amount will be budgeted for FY23 – FY26. |
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| REVIEWERS: | | Department | Reviewer | Action | Date | | Utilities | Tucker, Mary | Approved | 11/19/2021 - 12:33 PM | | Utilities | Keyes, Pamela | Approved | 11/19/2021 - 12:34 PM | | Budget Services | Guttery, Angela | Approved | 11/19/2021 - 3:27 PM | | Budget Services | Winton, Peter | Approved | 11/22/2021 - 8:49 AM | | County Attorney | Swindle, Amanda | Approved | 11/22/2021 - 4:38 PM | | County Manager | Brady, Christine | Approved | 11/23/2021 - 2:10 PM |
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