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City of San Leandro <br />Meeting Date: June 2, 2014 <br />Resolution - Council <br />Agenda Section:File Number:14-198 CONSENT CALENDAR <br />Agenda Number: <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:Sandra Spagnoli <br />Chief of Police <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:RESOLUTION Authorizing a Pilot Lease/Purchase Program for Police Fleet <br />Vehicles (authorizes for Fiscal Year 2013-2014 a three-year lease/purchase <br />agreement with any lending company not to exceed the financing rate of <br />4.25% and an amount not to exceed $161,055) <br />WHEREAS, the City annually replaces police vehicles according to a replacement <br />schedule; and <br />WHEREAS, staff proposes entering into a lease /purchase agreement for the Fiscal <br />Year 2013-14 replacement cycle; and <br />WHEREAS the bid price for the lease/purchase of replacement police cars will <br />piggyback on the state bid process and meet the City of San Leandro’s purchasing policy . The <br />total amount of the lease/purchase and the related financing for the police fleet shall not <br />exceed the budgeted amount of $161,055.00 for FY 2013-14; and <br />WHEREAS the City Council authorizes a three-year lease/purchase agreement with <br />any lending company in an amount not to exceed the financing rate of 4.25%, and purchase <br />of same vehicles for $1.00 each at the end of the lease agreement. <br />NOW THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of San <br />Leandro as follows: <br />That a three-year municipal lease/purchase agreement for replacement of police <br />vehicles with any lending company not to exceed the financing rate of 4.25% and in the <br />amount not to exceed $161, 055 for FY 2013-14, is hereby authorized; and <br />That the City Manager is authorized to execute the said lease/purchase agreement and <br />other documents necessary to finance the acquisition. <br />Page 1 City of San Leandro Printed on 5/27/2014