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Meeting Date:	08/22/2016
Caterpillar Financial Services Lease-Purchase Agreement Road & Bridge
Submitted for:	Erika Bueno	Submitted By:	Erika Bueno
Department:	County Attorney

Subject:

Discussion and possible action to authorize Webb County to enter into a 36 month heavy equipment lease-purchase agreement with Caterpillar Financial Services Corporation for One (1) Caterpillar backhoe loader and Two (2) Caterpillar motor graders, at a monthly rental rate of $6,719.93, in a total sum not to exceed $241,917.48, with an initial rental payment of $6,719.93, as a security deposit due upon approval and execution of the lease agreement, subject to annual budget appropriating, and authorizing the County Judge to execute any and all relevant documents; and all other matters incident thereto, and applicable to record the required budget adjustments for the debt service and road bridge fund. [Requested by Jose Luis Rodriguez, Road and Bridge Department Superintendent, Account #010 (Road and Bridge) and (Fund 600 Debt Service Fund)]

Issue: The previous 36 month lease signed on 04/24/13 has expired.

Solution: Approval of new lease is required.

Result: Webb County Road and Bridge Department will be able to accomplish its objectives.

Background:

N/A

Previous Court Action:

Fiscal Impact

Budget Account Number:	010
Funding Source:	600
Balance:	N/A
Financial Impact:
N/A

Attachments
Caterpillar Lease Purchase Agreement