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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