Commissioners Court Meeting
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Meeting Date:
01/23/2017
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 Thirty-Six (36) month heavy equipment lease purchase agreement with Caterpillar Financial Services Corporation for Two (2) Backhoe Loaders, at a monthly rental rate of TWO THOUSAND EIGHT HUNDRED SEVEN DOLLARS AND 02/100 ($2,807.02). In a total sum, over three (3) years, not to exceed ONE HUNDRED ONE THOUSAND FIFTY-TWO DOLLARS AND 72/100 ($101,052.72), with an initial payment of TWO THOUSAND EIGHT HUNDRED SEVEN DOLLARS AND .02 CENTS ($2,807.02) as a security deposit due upon approval and execution of the lease agreement, subject to annual budget appropriations, and authorizing the County Judge to execute any and all relevant documents; and any 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 Superintendent, Account #010 Road& Bridge and Fund #600 Debt Service Fund]
Issue:
These two backhoe loaders were part of the agenda item #25 approved on June 27, 2016 which was subsequently rescinded, on August 22, 2016.
Solution:
New contract required.
Result:
Webb County Road and Bridge Department will have the full compliment of equipment requested.
Background:
N/A
Previous Court Action:
Fiscal Impact
Budget Account Number:
N/A
Funding Source:
N/A
Balance:
N/A
Financial Impact:
Account # 010 Road and Bridge
Fund # 600
Attachments
Caterpillar-Holt Lease Purchase Agreement
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