DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-Wide
SUBJECT:
Authorizing the Execution of the 2018 Master Tax-Exempt Lease Purchase Agreements for Police Helicopter, Solid Waste and Fire Equipment
SUMMARY:
A. This Ordinance approves the Master Tax-Exempt Lease Purchase Agreement for a Police Helicopter with Banc of America Public Capital Corp and an Escrow and Account Control Agreement with Banc of America Public Capital Corp and Frost Bank; and approves Exhibits and related Schedules to the Master Tax-Exempt Lease Purchase Agreement in the amount of $4,963,223 for the acquisition of a Police Helicopter for the Police Department.
B. This Ordinance approves the Master Tax-Exempt Lease Purchase Agreement for Solid Waste and Fire Equipment with Signature Public Funding Corporation and an Escrow and Account Control Agreement with Signature Public Funding Corporation and Frost Bank; and approves Exhibits and related Schedules to the Master Tax-Exempt Lease Purchase Agreement in the amount of $5,430,086.78 for the acquisition of automated side loaders for the Solid Waste Department and an ambulance and bunker gear for the Fire Department.
C. This Ordinance approves the Master Tax-Exempt Lease Purchase Agreement for Solid Waste and Fire Equipment with JP Morgan and an Escrow and Account Control Agreement with JP Morgan and Frost Bank; and approves Exhibits and related Schedules to the Master Tax-Exempt Lease Purchase Agreement in the amount of $5,014,671.56 for the acquisition of brush tractors and brush trailers for the Solid Waste Department and an exhaust removal system, platform truck, and engine truck for the Fire Department.
BACKGROUND INFORMATION:
On December 18, 2017, the City released a Request for Bid ("RFB") for a Tax-Exempt Equipment Lease/Purchase Financing Agreement for Solid Waste and Fire Equipment and a Tax-Exempt Equipment Lease/Purchase Financing Agreement for Police Helicopter. The leases were...
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