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CASSELBERRY CITY COMNIISSION <br />Minutes of December 9, 2013 — Regular Meeting <br />Page 6 of 24 <br />Recommendation: The City Manager and the Community Development Director recommended approval of <br />Resolution 13 -2553. <br />E. Resolution 13 -2554 — FY 2014 Capital Lease Contract with SunTrust Equipment <br />Finance & Leasing Corporation <br />"A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING AND <br />APPROVING EXHIBITS A THROUGH G -2 AND RELATED DOCUMENTS FOR EQUIPMENT <br />SCHEDULE NO. 11 TO THE MASTER LEASE AGREEMENT DATED OCTOBER 12, 2000 WITH <br />SUNTRUST EQUIPMENT FINANCE & LEASING CORPORATION FOR THE CAPITAL LEASE <br />PURCHASE OF THREE (3) STREETS MAINTENANCE TRUCKS, ONE (1) PARKS AND <br />MAINTENANCE TRUCK, AND ONE (1) CODE COMPLIANCE VEHICLE; PROVIDING FOR <br />CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE." <br />Introduction: Resolution 13 -2554 approves Exhibits A through G -2 and related documents for Equipment <br />Schedule No. 11 to the Master Lease Agreement with SunTrust Equipment Finance & Leasing Corporation <br />dated October 12, 2000 for three (3) maintenance trucks, one (1) truck, and one (1) vehicle, and authorizes the <br />Mayor to execute said documents on behalf of the City. <br />Discussion: Within the approved Budget, certain capital replacement vehicles were budgeted to be funded <br />under capital leases. These vehicles are shown below: <br />uantit Description Budget Account <br />Three (3) Streets Maintenance $ 205,000 302 - 0410 - 541.67 -22 <br />Trucks <br />One (1) Parks Maintenance $ 31,000 302 - 0720 - 541.67 -22 <br />Truck <br />One (1) Code Compliance $ 23,000 302- 0222 - 524.67 -22 <br />Vehicle <br />The funding requested is based on cost estimates acquired for each purchase. The estimates and applicable <br />financing terms follow. Annual lease payments will begin in FY 2014 and are approved in the operating <br />budgets of the applicable departments. They are shown below: <br />Department <br />Description <br />Lease Budget <br />Lease Actual <br />Streets <br />Maintenance Trucks <br />$ 70,363 <br />$ 69,283 <br />Parks <br />Truck <br />$ 10,640 <br />$ 10,477 <br />Code <br />Vehicle <br />$ 7,894 <br />$ 7,774 <br />Budget Impact: The capital equipment purchases have been budgeted in the Equipment Replacement Fund <br />