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Meeting Date:	06/27/2022
Fire Apparatus lease Agmt
Submitted for:	Melinda Mata	Submitted By:	Melinda Mata
Department:	County Judge

Subject:

Discussion and possible action to enter into, by Order, a “Lease-Purchase Agreement, No. 98998944-1” with PNC Bank National Association, pursuant to Texas Local Government Code Section 271.005 (Authority to Contract for Personal Property) for the purpose of financing Four (4) New Pierce Freightliner M2, 106MD, 4x4 Four Door Responder Pumpers, One (1) New Freightliner M2 Two Door FXT 3000 Gallon Tanker, Four (4) New Freightliner M2 106MD 4X4 Four Door Type 4 Step Side Brush Trucks and One (1) Ford F 350 Metromedic Type 1 Ambulance along with Preventative Maintenance for said vehicles for the Volunteer Fire Department in an amount not to exceed FOUR MILLION ONE HUNDRED TWENTY THOUSAND DOLLARS ($4,120,000.00), with a financing term of eight (8) annual payments as set out in the agreement at an interest rate of 4.180%, with the first annual payment due May 28, 2023, and any matters incident thereto; authorizing the County Judge to sign all relevant documents.[Account #1001-1130-001-469001-005 (Operating Lease Principal)]

Issue: Commissioners Court authorized County staff to secure a finance proposal in order to purchase the necessary fire and ambulance equipment for the Volunteer Fire Department.

Solution: Consider approval of a Lease Purchase agreement with PNC Bank National Association in order to secure the funding necessary to purchase the Fire Truck and Ambulances.

Result: Proceed with the execution of the Lease Purchase Agreement and authorize Steve Landin to order equipment immediately after funding is transferred to Webb County by PNC Bank contingent upon approval of this item and a fully executed contract between Webb County and PNC Bank.

Background:

Previous Court Action:

Attachments
Lease Purchase Agmt
Lease Schedule
Pierce Lease App