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Issue: These two backhoe loaders were part of the agenda item #25 approved on June 27, 2016 which was subsequently rescinded, on August 22, 2016.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.