HomeMy WebLinkAboutResolutions - No. 2001-279RESOLUTION NO. 2001-279
A RESOLUTION OF THE LODI CITY COUNCIL APPROVING THE
REFINANCING OF THE QUINT AERIAL FIRE APPARATUS, TO
INCLUDE THE NECESSARY TOOLS AND EQUIPMENT
WHEREAS, Lodi Municipal Code Section 3.20.070 authorizes dispensing with bids for
purchases of supplies, services, or equipment when it is in the best interest of the City to do so; and
WHEREAS, the Fire Department was in need of replacing one Fire Department front-line
apparatus; and
WHEREAS, the City Council adopted Resolution No. 2000-229 awarding the bid and finance
of a Ouint Aerial Fire Apparatus without any of the necessary firefighting equipment using a seven-year
lease at 5.30% with an annual payment of $115,303.51 through First Municipal Leasing Corporation,
of Golden, Colorado; and
WHEREAS, the need for the firefighting equipment to outfit the new truck caused staff to
reassess the current lease due to the benefits of the present reduced interest rates; and
WHEREAS, First Municipal Leasing Corporation has agreed to restructure the entire
lease to include the Quint Aerial Fire Apparatus, tools, and equipment needed at a rate reduced
from 5.30% to 4.49%. The total lease payments will be $922,574.94 with an annual payment
amount of $131,796.42 for a period of seven (7) years; and
WHEREAS, the City Manager recommends approving the refinancing of the Quint Aerial
Fire Apparatus to include the necessary tools and equipment as specified above through First
Municipal Leasing Corporation.
NOW, THEREFORE, BE IT RESOLVED, that the Lodi City Council does hereby
approve the refinancing of the Quint Aerial Fire Apparatus, to include the necessary tools and
equipment, through First Municipal Leasing Corporation, of Golden, Colorado, at a rate of
4.49%, with an annual payment of $131,796.42, for total lease amount of $922,574.94 for a
seven (7) year lease term.
Dated: December 5, 2001
I hereby certify that Resolution No. 2001-279 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held December 5, 2001 by the following vote:
AYES: COUNCIL MEMBERS — Hitchcock, Howard, Land, Pennino
and Mayor Nakanishi
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
SUSAN J. BLACKSTON
City Clerk
2001-279