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Res. No. 212-00-11105RESOLUTION NO.212-00-11105 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA,AUTHORIZING THE CITY MANAGER TO ENTER INTO A LEASE AGREEMENT WITH ATLANTIC TRUCK CENTER FOR THE USE OF A TRASH DUMP TRUCK TO BE PAID IN FIVE ANNUAL INSTALLMENTS OF $13,381.69 FROM ACCOUNT NO. 1760-519-4455,"LEASE PURCHASE TRUCKS". WHEREAS,the City's daily trash collection service requires the deployment of four trash dump trucks ona daily basis,and; WHEREAS,one of the trash trucks is nearing theend of its useful lifeasa front line piece of equipment,and; WHEREAS,the replacement of this vehicle is imperative in order for Public Works to continue to provide reliable trash collection service by improving the reliability of the equipment,and; WHEREAS,the Public Works Department has identified a favorable equipment lease program based ona State bid. NOW THEREFORE,BE IT RESOLVED bythe MAYOR AND CITY COMMISSION of the CITY OF SOUTH MIAMI,FLORIDA: Section 1.A five-year lease contract with Atlantic Truck Center based on annual payments of $13,381.69 tobepaidin advance hasbeen identified basedonState Contract No.070-700-230. Section 2.TheCity Manager be authorized tomakethefirst of five payments in during fiscal year 2000-01 to Atlantic Truck Center. Section 3.That this resolution shallbe effective immediately after adoption. PASSED AND ADOPTED this 17th day of October,2000. APPROVED: MAYOR READ AND APPROVED AS TO FORM: CITY ATTORNEY ATTEST: COMMISSION VOTE:4-0 Mayor Robaina:Yea Vice Mayor Feloju:out of town Commissioner Bethel:Yea Commissioner Wiscombe:Yea Commissioner Russell:Yea Gs^Ks>-aa-cfc-\i\c& CITY OF SOUTH MIAMI INTER-OFFICE MEMORANDUM To: From: Ronetta Taylor City Clerk Orlando Martinez Public Works Director 6^ Date:February 6,2001 Re:Attachment to Resolution No.1760-519-4455 10/17/2000 The aforementioned resolutionwasapprovedfor$13,381.69.Thefinalinvoiceforthelease agreementis$13,851.73adifferenceof$544.92annual. Inordertoclarifytheactualresolutionamount,pleaseattachthismemoto it. C.Charles D.Scurr,City Manager Hakeem Oshikoya,Finance Director Earl Gallop,City Attorney RESOLUTION NO.?1?-Q0-11105 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA,AUTHORIZING THECITY MANAGER TO ENTER INTO A LEASE AGREEMENT WITH ATLANTIC TRUCK CENTER FOR THE USE OF A TRASH DUMP TRUCK TO BE PAID IN FIVE ANNUAL INSTALLMENTSOF$13,381.69FROMACCOUNTNO. 1760-519-4455,"LEASE PURCHASE TRUCKS". WHEREAS,theCity's daily trash collection service requires the deployment of fourtrashdumptrucksonadailybasis,and; WHEREAS,one ofthe trash trucks is nearing the end ofits useful life asa front linepiece of equipment,and; WHEREAS,the replacement of this vehicle is imperative in order for Public Works to continue to provide reliable trash collection service by improving the reliability of theequipment,and; WHEREAS,the Public Works Department has identified a favorable equipment lease program basedon a State bid.^v k NOW THEREFORE,BE n'RESOLVED by the MAYOR AND CITY COMMISSION of the CITY OF SOUTH MIAMI,FLORIDA: Section 1.A five-year lease contract with Atlantic Truck Center based on annual payments of $13,381,69 to be paid jh advance has-been identified basedori State Contract * No.070-700-230.7 <..'*."/</•t Section 2.The City Manager be authorized to make the first of five payments in during fiscal year 2000-01 to Atlantic Truck Center.*•»l ) Section 3.That this resolution shallbeeffective immediately after adoption. PASSEDANDADOPTEDthis17thday of October,2000. APPROVED:ATTEST MAYOR V >^^ >* \% >< READAND APPROVED AS TO FORM: htv ATrrr^Dxrcv / COMMISSION.VOTE:- Mayor^.Robafna: Viceliayo'r Feliiu: Commissioner Bethel: Commissioner Wiscombe: Commissioner Russell: 4-0 Yea out of town Yea Yea YeaCITYATTORNEY a-:.*s ;sh - CITY "OF SOUTH MIAMI INTER-OFFICE MEMORANDUM TO: FROM: MayorandCommission DATE:October 17,2000 A/1 /I {&"*"'/ft //O^^Charles D.Sci^Jfods*SUBJECT:Agenda Item#_ City Manager C/"Trash Truck Lease <? REQUEST '^'-- Theattachedresolutionseeksauthorizationtoenterintoaleaseagreementfora trash dumptruckto be Usedin the dailytrash collection service.The proposed lease is fora five-yearperiodatatotalcost of $58,924.00.TheFY2000-01amountis$13,381.69and will come from Account"01 -1760-519-4455,Lease Purchase-Trucks. BACKGROUND •'-V' The five-day perweektrashpickupservice requires the deployment offourtrashdump trucks eachday (during rare"slow"periodsthreemaybe deployed).Asparetruckis indispensable toaddressequipment breakdowns.;andallowforproperpreventive maintenance.The trash collection operation therefore requires that five trash crane trucks' be available.A recent serious accident has^renderedT3ne of the trucks inoperable and its repair not cost effective,''V*»•'-*"*:/' The five-year lease will be have annual*payments of 13,381.69 with a total cosj of $66,779.55.Thetruckmaybe purchased bythe City forthe amount of $1*00 at tna end of the lease period.urtj '* •:;-:.',•••--':•.:-.--^"t '*v .>s><-'• The above lease terms are based on!the 2000 State Contract no.070-700-230.The amortization rateinthis lease is 6.79 percent. Payments are to be made in advance (upon delivery of vehicle)with annual disbursements on this lease to start in Fiscal Year 2001-02.Funding for this expenditure will be provided infrom account no.01-17-60-519-4455,Lease Purchase - Trucks,which has an account balance of $47,029.'' •V < Ai J mfp^^^ •*<\«- **•»*"v *■*_♦ s*A-.--.**/ ;ja"\ CONCLUSION AND RECOMMENDATION ••'*£'> ilftf ^ .•**«£ Our goal to maintain a high level of trash collection service requiresthe addition of a new trash truck.The recommended lease program spreads put me^cbst'of obtaining this equipment while benefiting the City almost immediately byShaving trie equipment available in the next90to 120 days.Approval is recommended.* '?'f • V >'•»• i><< i• -» *f.i ,\ ./" ^J^x *.. \" FEB-02-61 84:47 PM m..p!rMiiiii|>:-!!>:!i. iii-:>;i:i!iii|,:,V!!'!!:!!!'!;!i;1 ;;i:|!|iii;''!"!:,i!'!l'I||^i|u: -Fax Cover Sheet - Date:Friday,February 02,2001 Pages:1 To:Kathy Vazquez South Miami,City Of 305-667-7606 From:Don Portfolio Atlantic Truck Center 954-797-9720 (Fax) 954-587-8220 -Ext.(Phone) Subject:Annual lease payment for Sterling trash dump 1AJ21520 The payment schedule showed the amount of $61,337.00 with 5annual payments of $13,851.73. This was correct because It Included the extended warranty. The payment of $13,306.81 was based on a selling price of $58,924.00.There was no extended warranty.Therefore,your payment was $544.92 (8M short.I will pick upa check from you when I deliver the two pickup trucks. HA*~U f^C*^^ »•»4 <•l ATLANTIC tHUCK OVNTOft ?!>SR?««-{.&&ti U'j&iltt *F,HUiaiiM»«••.,»•it,Ni.j1. (jH*J S074KKO ..'•va-^I ,«r-l :i.-v •.ir TRUCK'S P.©1 y 61' TO: CITY OF SOUTH MIAMI INTER-OFFICE MEMORANDUM MayorandCommission DATE:October 1.7,2000 a/1 /I Kef*"/if IJ O*^FROM:Charles D.Scurr/j/^£^SUBJECT:Agenda Item#_ City Manager [^Trash Truck Lease REQUEST The attached resolution seeks authorization to enter intoalease agreement fora trash dumptrucktobeusedinthe daily trash collection service.The proposed lease is fora five-year periodatatotalcostof $58,924.00.TheFY 2000-01 amountis $13,381.69 and will come from Account 01-1760-519-4455,Lease Purchase-Trucks. BACKGROUND Thefive-dayperweektrashpickupservicerequiresthedeployment of fourtrashdump truckseachday(duringrare"slow"periodsthreemaybedeployed).Asparetruckis indispensabletoaddressequipment breakdowns andallowforproper preventive maintenance.The trash collection operation therefore requires that five trash cranetrucks be available.A recent serious accident has rendered one of the trucks inoperable andits repair not cost effective. Thefive-yearleasewillbehaveannual payments of 13,381.69 withatotalcost of $66,779.55.The truck maybe purchased bytheCityforthe amount of $1.00attheend of theleaseperiod. The above lease terms are based on the 2000 State Contract no.070-700-230. amortization rate in this lease is 6.79 percent. The Paymentsaretobemadeinadvance (upon delivery of vehicle)withannual disbursementsonthisleasetostartin Fiscal Year 2001-02.Funding for this expenditure willbeprovidedinfromaccountno.01-1760-519-4455,LeasePurchase- Trucks,whichhasanaccountbalance of$47,029. c 2&. CONCLUSION AND RECOMMENDATION Our goal to maintain a high level of trash collection service requires the addition ofa new trash truck.The recommended lease program spreads out the cost of obtaining this equipment while benefiting the City almost immediately by having the equipment available inthenext90to 120 days.Approval is recommended. ••*&: M -06/12/00 13:40 FAX 6304356872 SPECIAL PRODUCTS MBCC -National Tcuck Office Municipal Lease Quote June 12,2000 Cityofsouth Miami/Atlantic Truck/ge Payments In Ativans Annua!Payments with $1 Buyout Contract Term Municipal Rate for deliveries or contracts prefunded within thirty days Payment Factor .Payment Municipal Rate Lock for deliveries or contracts funded within 90 days Payment 5 Years 6.68% 0.22666 813,355.71 6.79% $13,381,69 e Q u P M EN L INFO Description Sterling Truck •Baaed on 190%advance to ALF Days to Pavs to Pgtv Quantity Funding 90 80 @002 Payments In Arrears Annual Payments with $1 Buyout 5 Years 0.24246 $14,286.71 6.89% $14,328.71 M Sales Price Estimated Preftind Disc * Trade In Down Payment Finance Amt l N $58,924.00 $0.00 $0.00 $0.00 558,624.00 This proposal is for Lease -Purchase only and is subject to:j- 1.Completionofmutuallyacceptable documentation. 2.Areviewoftheproposedessential use oftheequipmentanda final credit approval prior to funding. 3.No material adverse changeinthe financial condition prior to funding. 4.Receiptofacopyofthelast years'audited financial statementsandthe current yearbudget. $.No change In Federalorapplicablestateorlocaltaxlaw,regulations,case law,rulings,orother interpretationsbythe Internal Revenue Servicethatwouldaffectadverselyany Federal,state or localtaxbenefit assumed indeterminingtheabove proposal. 6.That the interest portionof the payments tobe made undertheLease-Purchase agreement shallbe exempt from Federal income taxes under section 103 of the Internal Revenue Code. .'••- i:/ lt<W*,~ ?y/^'Sterling T K.UCK S SUMMARY QUOTATION 09-27-2000 Page 1 of l SOUTH MIAMI CITY OF ATLANTIC TRUCK CENTE PO BOX 1 2565 W.ST.RD.84 SOUTH MIAMI FL 33333 FT.LAUDERDALE FL 33312 1-954-587-8220 PREPARED FOR:PEDRO PREPARED BY:GEORGE&DREW ELLISON Quote ID:SOUTH6 (Prices in U.S.Dollars) EQUIPMENT Total 1 M8500 MEDIUM CONVENTIONAL $58924 TOTAL EQUIPMENT PRICE $58924 OTHER CHARGES FET $0 TAXES •,0 FEES 0 Other 0 TOTAL OTHER CHARGES $0 TOTAL QUOTE $58924 2000 STATE CONTRACT#070-700-230 APPROVAL: Please indicate your acceptance of this quotation by signing below: x .//. 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