Title
Select the bid for financing for three pumper fire trucks.
Body
Recommended Action: Accept the lowest bid for financing and authorize the Chairman to sign all related documents.
The Commission awarded the bid for three new pumper fire trucks to Pierce Manufacturing on October 3, 2013. This consent agenda item awards the financing to the best bid received on the new fire trucks. Purchasing sent a request for bid on financing the new vehicles to 22 vendors. Purchasing received seven responses. The best bid was received from Clayton Holdings, LLC. The bid was 1.70% for an eight-year lease.
Alternatives: No real alternative exists.
Financial Considerations: The best bid from Clayton Holdings, LLC is 1.70% for eight years for three new Pierce pumper fire trucks. 16 semi-annual principal and interest payments of $85,311.02 will begin in July 2014. Payment will be made by the Fire District.
Legal Considerations: N/A
Policy Considerations: N/A