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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br /> RESOLUTION NO. 2014-053 <br /> RESOLUTION AUTHORIZING A PILOT LEASE/PURCHASE PROGRAM FOR <br /> POLICE FLEET VEHICLES <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 Year <br /> 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 exceed <br /> 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 any <br /> lending company in an amount not to exceed the financing rate of 4.25%, and purchase of same <br /> 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 <br /> San Leandro as follows: <br /> That a three-year municipal lease/purchase agreement for replacement of police vehicles <br /> with any lending company not to exceed the financing rate of 4.25%and in the amount not to <br /> 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 /> Introduced by Councilmember Prola and passed and adopted this 2nd day of June, 2014, <br /> by the following vote: <br /> Members of the Council: <br /> AYES: Councilmembers Cutter, Gregory, Lee, Prola, Souza; Mayor Cassidy (6) <br /> NOES: None (0) <br /> ABSENT: Councilmember Reed (1) <br /> ATTEST: / "4-aL- <br /> Marian Handa, City Clerk <br />