STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: December 14, 2022
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Budget and Management Services
EXECUTIVE: Jack Ireland
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SUBJECT
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Authorize (1) an amendment to Resolution No. 19-1274, previously approved on August 28, 2019, that authorized a master agreement for the purchase of fleet vehicles and equipment; (2) an amendment to Resolution No. 19-1407, previously approved on September 11, 2019, that authorized the purchase of surveillance equipment; (3) an amendment to Resolution No. 19-1919, previously approved on December 11, 2019, that authorized the purchase of hand and power tools; (4) an amendment to Resolution No. 20-0625, previously approved on April 22, 2020, that authorized the purchase of public safety hardware and software camera systems; (5) an amendment to Resolution No. 20-1808, previously approved on November 11, 2020, that authorized the purchase of voice and data network services, network management, monitoring, maintenance, Information Technology security, and related services; and (6) providing reimbursement language to each resolution that allows reimbursement and financing the lease/purchase of the vehicles and/or equipment over a set period of time pursuant to the provisions of the Master Lease Program - Financing: No cost consideration to the City
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BACKGROUND
The Master Lease Program (MLPP) is a lease finance program used by the City to finance capital equipment and technology items. The City has used this program since FY 2011-12. Lease drawdowns are used to pay invoices or provide up-front funding for projects. The City is required to make lease payments to repay the principal and interest on the lease. When the lease is fully paid, possession of the equipment or other financed project is transferred to the city. The City has drawn down lease funding in three term types depending on the use...
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