12/13/2016 Resolutions 2016-300RESOLUTION 2016-300
WHEREAS, the City of Grand Island invited proposals for Heavy Duty Tractor,
according to Request for Proposals on file with the Public Works Department; and
WHEREAS, on October 13, 2016 proposals were received, reviewed, and evaluated
in accordance with established criteria; and
WHEREAS, Titan Machinery of Grand Island, NE submitted a proposal in
accordance with the terms of the Request for Proposals and received the highest ranking based on the
established criteria.
WHEREAS, the purchase price for three (3) tractors is $249,452.00; and
WHEREAS, such amount will be financed by Merchants Bank of Minneapolis, MN;
and
WHEREAS, an advance payment comprised of $16,000 for trade-in value, $60,000
from the Streets Division capital budget and $15,400 from the Wastewater Fund for a total of
$91,400 will be made in 2016-2017 FY ; and
WHEREAS, the remaining four (4) annual payments will be in the amount of
$42,265.53 with a pay-off amount of $1.00; and
WHEREAS, the total re-payment amount will be $260,426.12.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the purchase of a three (3) Heavy Duty
Tractars from Titan Machinery of Grand Island, Nebraska is hereby approved.
BE IT FURTHER RESOLVED, that the Mayor is hereby authorized and directed to
execute such lease purchase agreement with Merchants Bank of Minneapolis, MN on behalf of the
City of Grand Island.
Adopted by the City Council of the City of Grand Island, Nebraska, December 13, 2016.
Attest:
C� ���,�.
RaNae Edwards, City Clerk
Jer m L. Je se , a r
Approved as to Form
December 12, 2016 Ci orney