HomeMy WebLinkAboutM1993-286 - 10/12/1993MOTIONS - 10/12/93
13.
Motion approving the purchase of an elevating scraper, with full five year maintenance, from Holt
Company of Texas, Corpus Christi, on the basis of only bid, in accordance with Bid Invitation No.
BI-0286-93. The purchase price is $303,048.00; maintenance cost is $133,140.00. The purchase
price will be financed through G.E. Capital. Based on the present annual interest rate of 4.56%,
the finance charge is $36,432.07, for a total expenditure of $472,620.07. The City may exercise
a buy-back option from Holt Company, after the five year maintenance program, at $78,161.00,
resulting in a net expenditure of $394,459.07. The replacement equipment is for Solid Waste
Services Department, and funds are budgeted in fiscal year 93-94 for the first year payments.
M93-286 !~