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Legislation #: 050678 Introduction Date: 6/2/2005
Type: Resolution Effective Date: none
Sponsor: None
Title: Authorizing the Director of Finance to proceed with the development of financing to acquire Fire Command Emergency Response Vehicles for the Fire Department, in an approximate principal amount not to exceed $760,000.00, under a Master Lease Purchase Agreement with a municipal leasing institution (“Leasing Company”), which the City anticipates to select through a request-for-proposal (“RFP”) process, and declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

Legislation History
DateMinutesDescription
6/1/2005 Filed by the Clerk's office
6/2/2005 Referred to Finance Committee
6/8/2005 Immediate Adoption
6/9/2005 Adopted

View Attachments
FileTypeSizeDescription
050678.pdf Authenticated 69K Authenticated
fiscal note for resolution.xls Advertise Notice 30K fiscal note
fire05 resolution.xls Advertise Notice 39K Fact sheet

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RESOLUTION NO. 050678

 

Authorizing the Director of Finance to proceed with the development of financing to acquire Fire Command Emergency Response Vehicles for the Fire Department, in an approximate principal amount not to exceed $760,000.00, under a Master Lease Purchase Agreement with a municipal leasing institution (Leasing Company), which the City anticipates to select through a request-for-proposal (RFP) process, and declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

 

WHEREAS, the Fire Department has determined that the acquisition of emergency response vehicles fleet (Fire Equipment) as follows are necessary to maintain the quality delivery of service for the community:

 

Qty Vehicle Description

 

9                                            2005 Ford Expeditions

16                                        2005 Ford Explorer 4 X 4

2                                            2005 Ford F-250 Truck 4X4 Crew

1                                            2005 Ford E-250 Cargo Van

1 2005 Ford E-350 Cargo Van Diesel

 

WHEREAS, the cost of purchase of such equipment is expected to be reimbursed by a draw upon a Master Lease Purchase Agreement (Agreement) with a leasing company; and

 

WHEREAS, the City is in the process of selecting a leasing company through an RFP process, the results of which will be submitted for approval by the City Council through the passage of an ordinance and

 

WHEREAS, the lease rental payments to the leasing company will be made by annual appropriations from the Fire Sales Tax Fund, over a five-year (5) period; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is authorized to proceed with the development of a financing plan for the purchase of fire equipment through a draw upon the Master Lease Purchase Agreement in the approximate amount of $760,000.00 with a Leasing Company, selected through an RFP process, subject to the approval by City Council.

 

Section 2. That the City declares its intent to reimburse itself for certain expenditures made within 60 days prior to or on and after the date of this resolution with respect to the Fire Equipment with the proceeds of the lease purchase expected to be drawn upon the Master Lease Purchase Agreement. The maximum principal amount expected to be financed under this lease purchase is $760,000.00.

 

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