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$AN City of San Leandro <br />Meeting Date: April 6, 2015 <br />Resolution - Council <br />File Number: 15-166 Agenda Section: 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 Approving and Authorizing the City Manager to Execute all <br />Documents to Effect the Second Phase of the Lease/Purchase Program for <br />15 Police Fleet Vehicles, in an Amount of $739,500, Contingent on City <br />Council Approval and Adoption of the 2015-16 and 2016-17 Biennial Budget <br />WHEREAS, the City annually replaces police vehicles according to a replacement <br />schedule; and <br />WHEREAS, the City entered into pilot program to lease/purchase through an <br />agreement the acquisition of 10 police vehicles in the Fiscal Year 2013-2014 replacement <br />cycle; and <br />WHEREAS, staff proposes entering into the second phase of the program by entering <br />into a lease/purchase agreement to acquire 15 vehicles in the Fiscal Year 2015-2016 <br />replacement cycle; and <br />WHEREAS, staff will include local dealerships and lending institutions in the <br />competitive bid process. The total amount of the lease/purchase and related financing for the <br />police fleet will not exceed $246,500 annually for three fiscal years beginning in Fiscal Year <br />2015-2016 for a total commitment of $739,500; 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 the <br />purchase of those same vehicles for $1.00 each at the end of the lease agreement. <br />NOW THEREFORE, the City Council of the City of San Leandro resolves as follows: <br />That a three-year municipal lease/purchase agreement totaling $739,500 for <br />replacement of 15 police vehicles with any lending company not to exceed the financing rate <br />of 4.25% and in the amount not to exceed $246,500 per year for three years beginning in <br />Fiscal Year 2015-2016, is contingent on City Council approval and adoption of the 2015-16 <br />City of San Leandro Page 1 Printed on 3/31/2015 <br />