Commissioners Court Meeting

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Meeting Date:	06/25/2018
Government Capital Corporation Finance Agreement
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 and Webb County for the purpose of financing law enforcement equipment and heavy equipment with a proposed financing term of Five (5) annual payments of $304,460.48 at an interest rate of 3.877%, 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 Commissioners Court]

Description	Qty.	Cost
Marked & Unmarked Police Packages	20	$557,743.22
Mobile Radios APX 8500	17	$114,006.25
120M2 Motor Graders - Caterpiller	2	$557,137.42
John Deere Tractor w/cutter and loader (JD5100 E & JD 5075M Utility	2	$131,226.54
Total Equipment Cost:		$1,360,113.43

Issue: Commissioners Court authorized the Purchasing Agent to secure a financing option to purchase the necessary law enforcement equipment for 20 leased units for Sheriff and Constable Offices and Heavy Equipment.

Solution: Approve the recommended financing option being provided by Government Capital Corporation for law enforcement equipment and heavy equipment for Road and Bridge Department.

Result: Proceed with final purchase orders to outfit all 20 units and to purchase the motor graders and tractors required for Road and Bridge.

Background:

None

Previous Court Action:

Approval on June 5, 2018 to secure pricing and financing for needed equipment.

Fiscal Impact

Budget Account Number:	1001-9080-390000
Funding Source:	Other Financing Sour
Balance:	$1,360,113.43
Financial Impact:
1001-9080-390000 Other Financing Sources Funding will be wired to Webb County by Government Capital Corporation Purchase Orders will be issued to each Vendor. 1st Annual payment due 12 months from signing.

Attachments
resolution doc
GCC proposal
Finance Contract - Governement Capital Corporation - Executed