HomeMy WebLinkAboutM2009-116 - 04/28/2009MOTION 04/28/09
5. Motion authorizing re-financing of five (5) existing network equipment leases with
CISCO Systems Capital Corporation with a total lease payment amount of
$515,880.79 and reducing the total lease payment amount to $483,595.55
resulting in a reduction in the total lease payment amount of $32,285.24. All
leases are fora 36-month term and have various amounts remaining, depending
upon the initiation date of the lease. New financing will be provided by Key
Government Finance, Inc. (a subsidiary of CISCO Systems, Inc.) located in
Superior, Colorado. Key Government Finance, Inc. is a State of Texas
Department of Information Resources (DIR) recognized vendor. Lessee will be
changed from the Corpus Christi Digital Community Development Corporation
(CCDCDC) to the City of Corpus Christi.
ATTEST:
Armando Chapa, City ecretary
enry Ga ett, Mayor
City of Corpus Christi
M2009-116
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized
representative), hereby certify to the City Council and other appropriate officers that the money
required for the current fiscal year's portion of the contract, agreement, obligation orexpenditure
described below is in the Treasury to the credit of the Fund specified below, from which it is to be
drawn, and has not been appropriated for any other purpose. Future payments are subject to
annual appropriation by the City Council.
City Council Action Date ADril 28. 2009
Agenda Item:
Motion authorizing refinancing of five (S) existing network equipment leases with Cisco Systems
Capital Corporation with a total lease payment amount of $S 15,880.79 and reducing the total lease
payment amount to $483,S9S.SS resulting in a reduction in the total lease payment amount of
$32,285.24. All leases aze fora 36 month term and have various amounts remaining, depending
upon the initiation date of the lease. New financing will be provided by Key Government Finance,
Inc. (a subsidiary of Cisco Systems, Inc.) located in Superior, Colorado. Key Government Finance,
Inc. is a State of Texas DIR recognized vendor. Lessee will be changed from the Corpus Christi
Digital Community Development Corporation (CCDCDC) to the City of Corpus Christi.
Amount Required: $ 334.307.50
Fund Name Fund No. Org.
No. Account
No. Project
No. Amount
4800 40393 530180 $334,307.50
Total $334,307.50
Certification Not Required
Director of Financial Services
Date: ~ - zo ~ o s