☐ Consent Agenda ☐Quasi-Judicial Public Hearing
☒ Regular Business 9:00 am
☐ Public Hearing Purchase
DEPARTMENT: Landfill
SUBMITTED BY: Cindy Talamantez
PRESENTED BY: Jeff Phipps
TITLE & DESCRIPTION:
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Caterpillar D6K2 Dozer final purchase option payment of the Governmental Lease Purchase Agreement with Ring Investments.
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REQUESTED MOTION:
Authorize the final purchase option payment of the Governmental Lease Purchase Agreement with Ring Investments to purchase the Caterpillar D6K2 Dozer.
SUMMARY:
Caterpillar D6K2 Dozer final purchase option payment of the Governmental Lease Purchase Agreement with Ring Investments.
BACKGROUND:
In 2020, the DeSoto County Landfill entered into a Governmental Lease-Option to Purchase Agreement with Ring Investments for a Caterpillar D6K2 Dozer. The final payment is now due; otherwise, the equipment must be returned to the dealer.
Although the Landfill has traditionally utilized equipment through operating leases, the current budget includes funds to exercise the purchase option outlined in the agreement. The purchase price is $72,000.
The dozer was brand new at the time of the lease and has been covered under a comprehensive Total Repair and Maintenance Agreement since its delivery. It currently has 1,545 operating hours. Upon completion of this purchase, the Compactor will be the only remaining piece of leased equipment at the DeSoto County Landfill.
FUNDS:
Budget Amount: $72,000
Actual Agenda Item Cost: $72,000
Account Number: 400-42305347110300 and 400-42305347220300
Explanation: Accounts shown are Principal and Interest which is how the funds are budgeted.