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Meeting Date:	02/14/2022
Financing Contract with Government Capital Corporation for Refuse Trucks for Road & Bridge Department
Submitted for:	Nohely Flores	Submitted By:	Nohely Flores
Department:	Civil Legal Division

Subject:

Discussion and possible action to enter into, by Order, a Public Property Finance Act Contract, No. 9820, pursuant to Texas 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 three (3) Automated Side Load Refuse Trucks for the Road and Bridge Department in an amount not to exceed ONE MILLION EIGHTEEN THOUSAND NINE HUNDRED SIXTY FOUR DOLLARS FORTY CENTS ($1,018,964.40), with a financing term of five (5) annual payments of $203,792.88 at an interest rate of 2.888%, with the first annual payment due twelve (12) months after Commissioners Court approval and any other matters incident thereto; authorizing the County Judge to sign all relevant documents. [Account #2007-7160-001-470000- Capital Outlay, Account #2007-9080-39000- Other Financing Sources]

Issue: There is currently no funding in the Road and Bridge 2021-2022 FYE budget for the purchase of the heavy equipment (Refuse Trucks).

Solution: Consider approval of a finance agreement with GCC to finance the purchase of the three (3) Refuse Trucks.

Result: Refuse trucks needed will be purchased.

Background:

The financing will fund the purchase of three (3) 2023 Autocar ACX64 with Amrep Automated Side Load Refuse Trucks

Previous Court Action:

N/A

Fiscal Impact

Budget Account Number:	n/a
Funding Source:	n/a
Balance:	n/a
Financial Impact:
n/a

Attachments
GCC Finance Contract
Item #26 - Contract No. 9820 - Government Capital Corporation - Executed