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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: CouncihnemberReed (1) <br />ATTEST: i6L_ <br />Marian Handa, City Clerk <br />