HomeMy WebLinkAboutItem 05 Approval to Lease-Purchase One (1) Fire Pumper AGENDA ITEM SUMMARY Meeting Date: 5/2/2016
Meeting Type: Regular Meeting
Staff Contact/Dept.: Joe Zaludek/Fire
Staff Phone No: 541-682-7103
Estimated Time: Consent Calendar
S P R I N G F I E L D
C I T Y C O U N C I L
Council Goals: Strengthen Public Safety
by Leveraging
Partnerships and
Resources
ITEM TITLE: APPROVAL TO LEASE/PURCHASE ONE (1) FIRE PUMPER
ACTION
REQUESTED:
Adopt/not adopt the following resolution: A RESOLUTION TO AUTHORIZE
THE CITY MANAGER TO ENTER INTO A 5-YEAR, TAX EXEMPT, LEASE
PURCHASE AGREEMENT WITH PNC EQUIPMENT FINANCE TO FINANCE
THE PURCHASE OF A NEW FIRE PUMPER.
ISSUE
STATEMENT:
PNC Equipment Finance requires a Council Resolution to authorize Fire & Life
Safety (FLS) to lease purchase one (1) fire pumper for front-line service.
ATTACHMENTS: 1.Resolution
DISCUSSION/
FINANCIAL
IMPACT:
The current 75’ ladder truck is a 2001 E-One that has exceeded its’ reliable lifespan
and is in need of replacement. The lease/purchase of a new Pierce Velocity fire
pumper was approved by Council on 3/21/16, but PNC Equipment Finance is
requiring a Council Resolution as well.
Springfield has had a Master Lease Agreement in place with Oshkosh Capital for
financing of fire apparatus the past several years. Oshkosh Capital is now PNC
Equipment Finance. As part of the new PNC Master Lease Agreement, they are
requiring a Council Resolution, which was not required by Oshkosh Capital.
The City is using a five year lease purchase option, based on the significant cost of
the apparatus. The lease payments will be $127,628 per year.
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