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Meeting Date:	10/26/2020
Government Capital Finance Proposal - Heavy Equipment
Submitted for:	Joe Lopez	Submitted By:	Joe Lopez
Department:	Purchasing

Subject:

Discussion and possible action to approve an Order and Resolution for the purpose of authorizing a public property finance contract issued under Local Government Code Section 271.005 (Authority to Contract for Personal Property) between Government Capital Corporation (GCC) and Webb County for the purpose of financing Heavy Equipment for the Webb County Water Utilities Department with a proposed financing term of Five (5) annual payments of $78,886.38 at an interest rate of 2.567%, with first annual payment due 12 months after signing; and authorizing the Civil/Legal division to prepare and finalize all related documents with final authorization from the County Judge; and any other matters incident thereto. [Requested by Webb County Commissioners Court]

Description	Qty.	Unit Cost	Ext. Cost
Peterbilt 567 Walker Water Combo	2	$182,855.26	$365,710.52

Issue: Commissioners Court authorized the county staff to secure a finance proposal from Government Capital Corporation in order to purchase the necessary water trucks related to the Las Presas Water Dispenser Improvements.

Solution: Approve the recommended financing option being provided by Government Capital Corporation in order to secure the funding necessary to purchase the water trucks (As approved by commissioners court, 10/13/2020) to haul water to La Presa Water Dispenser location.

Result: Proceed with the execution of the public property finance contract and authorize the Purchase Agent to order the water trucks as approve on 10/13/2020, immediately after funding is transferred to Webb County by GCC.

Background:

N/A

Previous Court Action:

On 10/13/2020, commissioners court authorized the purchase of 2 water trucks for Water Utilities Department to transport water from the Rio Bravo Water Treatment Plant to Las Presas Water Dispenser location.

Fiscal Impact

Budget Account Number:	1001-9080-390000
Funding Source:	Other Financing Sour
Balance:	$365,710.52
Financial Impact:
Account No. 1001-9080-390000 Other Financing Source Available Balance: $365,710.52 *Funding will be wired to Webb County by Government Capital Corporation upon execution of finance agreement, 2-3 business days. Purchase Order will be issued to Vendor after funding is allocated to account(s). 1st Annual payment due 12 months from signing.

Budget Account Number:	3015-7050-001-470000
Funding Source:	Capital Outlay
Balance:	TBD
Financial Impact:
Account No. 3015-7050-001-470000 Capital Outlay Available Balance: TBD

Budget Account Number:	3015-9080-390000
Funding Source:	Other Financing Sour
Balance:	TBD
Financial Impact:
Account No. 3015-9080-390000 Other Financing Sources Available Balance: TBD

Attachments
GCC Finance Summary Proposal
GCC Resolution
GCC Finance Agreement 9272