HomeMy WebLinkAbout043 - 04/15/1986 - AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT FOR THE LEASE/PURCHASE OF VEHICLES AND EQUIP ORDINANCE NO. 43, 1986
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY MANAGER TO ENTER INTO
AN AGREEMENT FOR THE LEASE/PURCHASE OF
VEHICLES AND EQUIPMENT
WHEREAS, the City is authorized under the provisions of Title 31,
Article 15, part 8, C.R.S. , to acquire necessary equipment and other
property for its governmental and proprietary purposes under the provisions
of a long term rental or leasehold agreement with an option to purchase
such equipment and provide for the payment of said property from any
available municipal income; and
WHEREAS, the City has received a proposal from Rauscher, Pierce
Refsnes Leasing, Inc. whereby Rauscher, Pierce, Refsnes Leasing, Inc. will
lease to the City the following described equipment:
QUANTITY DESCRIPTION
19 1986 Chevrolet Celebrity
Police Patrol Cars
1 1986 Chevrolet Astro Cargo Van
10 Microcomputers
6 Computer workstations
1 IBM Pro-writer printer
4 Epson Printers
4 1200 Baud modem
4 Printer cables
1 1986 Truckster w/dump
1 1986 Truckster w/o dump
1 1986 Farm Tractor
4 1986 Mid-size Pickups
1 1986 3-wheel Cushman
1 1986 Tractor/Loader/Backhoe
3 Disc Drives
and
WHEREAS, the City Council has determined that the City is in need of
the above listed equipment in order that it may be used by various City
departments; and
WHEREAS, the City Council has determined that it is in the best
interest of the City to lease said equipment from which is providing
financing for the acquisition of said equipment; and
WHEREAS, the City desires to enter into an equipment lease agreement
with Rauscher, Pierce, Refsnes Leasing, Inc. with respect to the leasing
of said equipment; and
WHEREAS, the terms of the equipment lease agreement will provide as
follows:
The City shall lease from Rauscher, Pierce, Refsnes Leasing, Inc.
the following equipment:
QUANTITY DESCRIPTION
19 1986 Chevrolet Celebrity
Police Patrol Cars
1 1986 Chevrolet Astro Cargo Van
10 Microcomputers
6 Computer workstations
1 IBM Pro-writer printer
4 Epson Printers
4 1200 Baud modem
4 Printer cables
1 1986 Truckster w/dump
1 1986 Truckster w/o dump
1 1986 Farm Tractor
4 1986 Mid-size Pickups
1 1986 3-wheel Cushman
1 1986 Tractor/Loader/Backhoe
3 Disc Drives
This agreement shall be for an original term from the date of
execution of the agreement through August 31, 1991 . The
agreement shall provide for renewable one year terms as follows:
RENEWABLE
ITEM ONE YEAR TERMS
1986 Chevrolet Celebrity Police
Patrol Cars December 31, 1990
1986 Chevrolet Astro Cargo Van December 31, 1990
Microcomputers December 31, 1990
Computer workstations December 31, 1990
IBM Pro-writer printer December 31, 1990
Epson Printers December 31, 1990
1200 Baud modems December 31, 1990
Printer cables December 31, 1990
Disc Drives December 31 , 1990
1986 Truckster w/dump December 31, 1991
1986 Truckster w/o dump December 31, 1991
1986 Farm Tractor December 31, 1991
1986 Mid-size Pickups December 31, 1991
1986 3-wheel Cushman December 31 , 1991
1986 Tractor/Loader/Backhoe December 31 , 1991
The City shall make equal quarterly payments for each of the
consecutive terms of such agreement.
If the City shall lease the equipment for the original term and
all successive renewal terms, the payment to Rauscher, Pierce,
Refsnes Leasing, Inc. will total Five Hundred One Thousand Three
Hundred Nine and 84/100 Dollars ($501,309.84) being the sum of
the principal plus interest at a fixed rate equal to 8.22%.
The City shall have an option to purchase the equipment on any
quarterly payment date of any term. The option to purchase shall
be exercised by paying the quarterly payment due on said date and
the unpaid principal due after said date.
If the City shall renew the agreement for all the renewal terms,
the City shall be deemed to have exercised the option to purchase
said equipment.
This agreement will not be a pledge of the City's revenues beyond
1986.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS:
Section 1. That the City Manager be, and he hereby is, authorized to
enter into a lease/purchase agreement for the above described equipment in
accordance with the terms and provisions set forth herein.
Section 2. That all proceeds necessary to purchase said above
described equipment, be, and they hereby are, appropriated in the funds of
the respective departments acquiring said equipment.
Introduced, considered favorably on first reading and ordered
published this 1st day of April , A.D. 1986, and to be presented for final
passage on the 15th day of April , A.D. 1986.
ZJOAY, A114-
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 15th day of April , A.D.
1986.
Mayor
TTEST:
City Clerk