HomeMy WebLinkAbout1994-05-09 94-221 ORDER^OUNCE, ACTION
Das: May%1994 Item No. 94-221
Item/Subject: Financing Purchase of3eWacuum Sewer Truck
Responsible Department: PurcLasing//Pubiic Services - Sewn Division
Conwentary:
On Apri14, 1994 the Finance Committm approved the leese-pwchace of 19941etNacuum Sewer
Truck from American Minion Supply, Inc. for S149,W9.00. This bid award was ratified on April ll,
1994 by the City Council per Council Order #94461.
On May 2,ONthe Finance Committee approved the bid award forfinancing the 5149,979.00
purchase price of the equipment to O. E.Capaal Public Pinance Corp., the low bidder at 5.67%. The
financing includes five annual payments of $33,392.10 "w advance" for a total contract amount of
$166,960.50 (total financing toss- $16,98150),
Delinli��
Mevagds Comments: beua
City Manages
Associated lnfonnarion: Bid sbulation6
Budge[APProval:
Director
I.cgel Approval:
CitC y Solicitor VU,
Introduced Por:
,� paw,ge ❑ Fmst Reading ❑ Referral
94-221
Meipmdto CoomcJor Blanchette May 9, 1994
CITY OF BANGOR
(TITLE) (0rbgr F,jnencing Purcitdce. ob Jen/Vacuum,Sewer Truck.
BY tha Cup (AmmmaOf40 Glut OfBnmoor:
ORDERED,
TEAT the bid award for financing the $149,979.00 purchase of the Sec/vacuo.
Sewer Truck is hereby made to C.B. Capital Public Finance Corp., the low bidder
at 5,67% for the five payment, four year contract.
a
94-221
ORDER
Title,
F nancing
i,uxcMee of .letNxuum
In City Council
My 9 1994
Senet Truck
eSsed
......................................
/
City leak
.... .... ...
Qs
Comcilm4R
94-221
c QHS of 'gdaitgaz, Aim
BID AWARD RECOMMENDATION
BID ffEM(S): Pumbase at faty
DEPAR�: ftblic
BWGETRBPBRENCE:
X Regwaz Appmprutiom Budget
Ememrise fund Item
Number of Bids Seng 10
Daze Advertised: Audi 11 1994
Regwshioa NO. 33603
Budgeted ima $34.40000
Tmal Amoum Of
Awazd Recommendation$ 3139119
Number ofDids Received 4
Bid Opening Date: pd120 1994
CGM�NTS:
Finance the $149,909.00 purchase ofthe 1994 ]eoVwaum Sewer Truck through G.E.
Capital public Finance, lm. of Minneapolis, MN the Iow bidder at 5.67% for the five payment,
four year financing agreement.
Pur t
CITY OF BANGOR Page 1 of 1
BID TABULATION Bid Opening: April 20, 1994
FiNANI•ANA JET VACUUM/SEWER TRUCK
Koch Flnncial"Me
Wichita. KarwsaIt
G.E. Capital
MN
Minneapolis.kUnitItem
ITEM DECRIPTION QTY.
UNIT
Unit Ilam
Ptice Total
1. Merest Rate
5.95%
2. nnuel Pa enl
33,559.28
4. oral Interest overs r. enod
1]817.41
Municipal Leasing
Boston, MA
ADVANTA Public Fin.
Voorhees,. NJ
ITEM DECRIPTION QTY. UNIT
Unit Item
Pnce Total
Unit Item
Price Total
4- er, 5 annual Adv. Pe m.
i. nterest Rale
5.83%
6.31%
2. nasi Pa ant
33,490.31
33,774,27F
4. oral Interest overs enod
1],4]2.55
18,892.35