City Council

22.\nAUTHORIZE FINANCE DIRECTOR TO ENTER INTO IN TO A TAX-EXEMPT\nLEASE AGREEMENT WITH BANK OF AMERICA TO FINANCE THE PURCHASE\nOF FIRE RESCUE AND VARIOUS OTHER VEHICLES AND EQUIPMENT\n(FINANCE)\nRECOMMENDATION: It is recommended that the City Council:\n1) Authorize the purchase of three Type 1 ambulances from Redsky Emergency\nVehicles not to exceed $1,533,334.\n2) Authorize the purchase of Hazardous Materials Vehicle and Apparatus not to\nexceed $1,816,000.\n3) Authorize the purchase of various public works vehicles and equipment not to\nexceed $700,000 from various vendors.\n4) Finance Command Vehicle previously authorized in an amount not-to-exceed\n$300,000\n5) Authorize the Director of Finance to enter into a tax-exempt lease agreement with\nBank of America, N.A. to finance various vehicles and equipment, over a 10 to 15-\nyear term at an interest rate of not-to-exceed 4.0%, in an amount not-to-exceed\n$4.5 million including cost of issuance and fees.\n6) Approve Reimbursement Resolution No. 9990 declaring the intent to finance\nvarious vehicle and equipment purchases authorized herein with a tax-exempt\nloan.