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1995-30 Award of Bid Fire Engine RESOLUTION NO. 95 - 30 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF PARKLAND, FLORIDA AUTHORIZING A BID TO PIERCE MANUFACTURING, INC. FORA FULLY EQUIPPED FIRE ENGINE WITH A 1250 GPM PUMP, DIESEL ENGINE, AUTOMATIC TRANSMISSION, 1,000 GALLON WATER TANK, HOSES & NOZZLES, GENERATORS AND LIGHTS, TOP MOUNTED PUMP OPERAnONS.PANEL, LADDERS & .22 PAGES OF-- MISCELLANEOUS AND TECHNICAL SPECIFICATIONS WHEREAS, the City Commission of the City of Parkland, Florida advertised for bids for a fully equipped fint engine, with a 1250 GPM pump, diesel engine, automatic transmission, 1,000 gallon water tank, hoses & nozzles, g~nerators and lights, top mounted pump operations panel, ladders and 22 pages of miscelftaneous and technical specifications; and WHEREAS, the City of Parkland received two (2) bids from the following bidders: Pierce Manufacturing, Inc. and 3D Manufacturing, Inc. WHEREAS, the City Commission has detennined that the bid of Pierce Wlanufacturing, Inc. is the lowest responsible and responsive bid and that it is in the best interest of the City of accept said bid; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF PARKLAND, FLORIDA, that: Section 1. That, Pierce Manufacturing, Inc., is hereby awarded the bid in the amount of $145,672.00 for the fully equipped fint angine, subject to cpproval of a satisfactory contract by the City Attorney. RESOLUTION NO. 95 - 30 BID AWARD FIRE ENGINE MAY 17, 1995 PAGe 2 PASSED AND ADOPTED THIS...1LDAY OF . MAY ,1995. ~~. ~ S P GLIARA VOR " ~___ C2.-.;~'~ SUSAN ARMSTRONG, c.... ., CITY CLERK SUN - S E N TIN E L PUBLISHED DAILY. fORT LAUDERDALE, BROWARD COUNTY, FLORIDA BOCA RATON, PALM BEACH COUNTY, FLORIDA MIAMI, DADE COUNTY, FLORIDA STATE OF FLORIDA COUNTY OF BROWARD/PALM BEACH/DADE . ~~:~~~.~: ~~~. ~~:O:::Y O:E::~:A~~:S A:::;RED HE/SH~.IS A DULY AUTHORIZED REPRESENTATIVE Of THE CLASSIfIED DEPARTMENT OF THE SUN-SENTINEL, DAILY NEWSPAPER PUBLISHED IN BROWARD/PALM BEACH/DADE COUNTY, FL9RIDA THAT THE ATTACHED COpy OF ADVERTISEMENT, BEING REQUES,TFOR BIDON IN THE flATTER Of fIRE, TRUCK IN THE CIRCUIT COURT, WAS PUBLISHED IN SAID NEWSPAPER THE .ISSUES OF C , 03/29, 5 X REQUEST FOR 810 ON A FIRE TRUCK Nollce Is hereby given that the City 01 Parkland Florida Is acCepllng bids from guallfled bidders on a new Are engine Pumper. Bid packages InclUding specifications can be picked up at the City of Parlcland Police Department, 8500 Parkslde Drive, Parlcland . AOrlda between the hourS of 8:00 "m. and 5:00 p.m. Monday through Friday. I N BIds will be accepted IU1tll AprU 28. 1985 at 10:00 a m at which time the bid oP-i: 3 0 1 5 03 9 ~na~' ~~~:,'<:::,ce In the city The City reserves the right to accept or reject any or all bids or to award In the best Interest 01 the City and to waive any Irregularities In the bids. LT. John L. Grimes Administrative Commander Mar. 29,30,31 Apr. 1,2, 1995 A ' AFFIANT FURTHER SAYS THAT THE SAID SUN-SENTINEL IS A NEWSPAPER PUBLISHED IN SAID BROWARD/PALN BEACH/DADE COUN.TY,- FLORIDA, AND THAT THE SAID NEWSPAPER HAS HERETOFORE BEEN CONTINUOUSLY PUBLISHED IN SAID BROWARD/PAlM BEACH/DADE. COUNTY, FLORIDA, EACH DAY, AND HAS ~EEN ENTERED AS SECOND CLASS MATTER AT THE POST OFFICE IN'FORT LAUDERDALE, IN SAID B ROWARD COUNTY, FLORIO A, FOR A' ~ERIOD OF ONE YEAR NEXT PRECEDING THE FIRST PUBLICATION' Of THE ATTACHED COPY Of ADVERTISEMENT; . AND AfFIANT FURTttER SAYS THAT HE/SHE HAS NEITHER PAID NOR PROMISED ANY PERSON, FIRM OR. CORPORATION . . ANY DISCOUNT, REBATE, COMMISSION OR REFUND FOR THE PURPOSE OF SECURING THIS ADVERTISEMENT FOR PUBLICATION IN SAID NEWSPAP~ ...~~....~................................ . (SI~NATURE Of ,AfFIANT) ~WORN ,TO .AND SUSSeR IBED BE.FORE PIE 1HI$ 02 DAY OF APRJL A... 0.. )}9 5 / . .. . ......... (SIGNATURE Of NOTARY PUBLIC) ..,~'3.:',,"'" . I~"""~~ BAA8ARA STRiCKlAND f"f~. :.~ MY COMWJSSION Ice 207617 EXPIRES '-:".:;{l J Jy 24 ""'J> ~;"i".,~.,~",. u. l..w , "',9f.,~"'" 80NtiED nfW TROV fAIN 14Slf'.ANCE. 1M:. ....................~~.................... :::: :H::L: O::::H T:: ~~: . :: :7. ~~. ~~ ~~P:: l PRODUCED IDENTIFICATION ................. MEMORANDUM DATE: JULY 14, 1995 TO: HARRY J. MERTZ, CITY MANAGER FROM: JUDITH C. KILGORE, FINANCE DIRECTOR (~ SUBJECT: MUNICIPAL LEASE/PURCHASE FINANCING. FIRE TRUCK The City has received three proposals for the financing of the fire truck. All three are proposing rates in the range from 5.7185 to 5.8000 percent for the term of seven (7) years and assuming annual payments in ~~ . In each of the three proposals, the City would receive the furids now and disburse the funds to the manufacturer upon completion and delivery of the fire truck. One source proposed the financing of the construction of the truck, which would involve the payment to Pierce Manufacturing up front, in which case Pierce would allow a small discount off the cost of the truck. However, in this instance, it would be necessary for the City to purchase a performance bond to insure the delivery of the truck by the manufacturer. It is assumed that the discount offered by Pierce would exceed the interest earnings which the City could earn on the escrow account. Overall, this would result in a rather Insignificant saving and may not be worthwhile. In any case, all proposals will expire on August 3, 1995, which will allow us to place this item on the August 2nd agenda. After reviewing the documents, I ranked them based upon the interest rate offered and total Interest to be paid over the life of the loan as follows: 1. Riverside National Bank, Stuart, Florida 5.1785% Total interest over life $25,387 2. Commercial & Municipal Capital, LLC. 5.8000% See innovative idea paragraph 2. Tampa, Florida Total interest over life $25,015 3. Princeton Public Finance Group 5.78% Lodi, California Total interest over life $25,664 Parkland Public Safety 6500 Parkside Drive Parkland, FL 33067 Gentlemen: April 27 ,1995 PROPOSAL FOR FURNISHING ~-> FIRE APPARATUS The undersigned is prepared to manufacture for you, upon an order being placed by you, for final acceptance by Pierce Manufacturing, Inc., at its home office in Appleton, Wisconsin, the apparatus and equipment herein named and for the following prices: One (1) 1995 Pierce Responder pumper per Parkla~~ specifications $145,672.00 Total $ 14 5 . 672 . 00 Said apparatus and equipment are to be built and shipped in accordance with the specifications hereto attached, delays due to strikes, war or international conflict, failures to obtain chassis, materials, or other causes beyond our control not preventing, within about 24 0 - 2 7 0 im~ Sly~ after receipt of this order and the acceptance thereof at our office at Appleton, Wisconsin, and to be delivered to you at p ~ r 1r 1 and. FL The specifications herein contained shall form a part of the final contract, and are subject to changes desired by the purchaser, provided such alterations are interlined prior to the acceptance by the company of the order to purchase, and provided such alterations do not materially affect the cost of the construction of the apparatus. The proposal for fire apparatus conforms with all Federal Department of Transportation (DOT) rules and regu' lations in effect at the time of bid, and with all National Fire Protection Association (NFPA) Guidelines for Automotive Fire Apparatus as published at the time of bid, except as modified by customer specifications. Any increased costs incurred by first party because of future changes in or additions to said DOT or NFPA standards will be passed along to the customers as an addition to the price set forth above. Unless accepted within 30 days from date, the right is reserved l By: ~~ . pecifications Bidder Complies YES NO QUALITY AND WORKMANSHIP: The design of the apparatus must embody the latest approved automotive engineering practices. The workmanship / must be of the highest quality in its respective field. Special consideration will be given to the following points: -Accessibility of the various components with require periodic maintenance. I -Ease of operations, including driving, pumping and symmetrical proportions. I -Perfonnance capabilities to include braking, overall handling, pump capacities, etc.. / -Safety features to include noise reduction, oversized steps, seating positions, etc.. / -Standardization with operations currently in use in Parkland, Florida. WARRANTY: The complete apparatus shall be warranted for a period of one year 100% _ parts and labor. This warranty shall include all signal devices, batteries, alternators, and other trade accessories. The engine shall be warranted for a period oItwo (2) years 100% I parts and labor. The transmission shall be warranted for a period of two (3) years. The water tank shall be warranted for a minimum period of 20 years 100% parts and labor. The apparatus body shall be warranted for a period of ten (10) years parts and labor against corrosion perforation and structural failure including body cracking. A warranties shall be submitted with the bid. i DELIVERY: Delivery shall not exceed 270 days from receipt of tlrder. Delivery time to be a determining factor in the award of bid. Apparatus shall be delivered under its own / I power. A qualified delivery engineer representing the contractor shall remain in the City a I sufficient length of time to instruct the Fire Department personnel in the proper operation, I care and maintenance of the equipment delivered. Two complete sets of manuals shall be I provided upon delivery. Unit shall be delivered under is own power. I I I :1 I , : Page 3 ~: .~ 989 S. FEDERAL HWV. STUART, FL 34994 (407) 287-7600 Fax (407) 287-9890. ~.c... June 27, 1995 Ms. Judith C. Kilgore Finance Director City of Parkland \. '\ RE: Fire Truck Lease Purchase \ \ \ Dear Iudith: Riverside National Bank is pleased to provide the following,proposal for your consideration. Amount: $145,672.00 Rate & Terms: 5.7185% Fixed - Seven (7) Years Repayment: $24,437.03 Annually in advance Documentation Fees: None . ~ . . .- Ed fLeas' C . . N: . . ..~'..';":--., '. "...,.~ :'. ..,:':...... '." '," ,,:' . . no. e .osts.....:.~.: . one '. - . '.; .,.. p.'. .. ;. .... -.-:-;;..'f~:.~ ""':-:,.~...,~ :',;'. ..:~1"~ . '.. - ...... t' .-' .. ,... >, .. '. ~~.;~,-:;>:~ .: X~li;;~:: . 'i;;:,j~~~~:ii:l'~;, .;:~;;;):;;;).;' ..,:,: ,5(~it~:.Z44~Ji;:t .fi~::,~;'~~ ,:;~;S . t..~...t. . ....;-; " . ..,,~,~tt.;'~'Ilb>""""""'" .,..., ~.' '. ,.. ~~....t.. ~ , '... ..-.".... .,....' '.',' -. ..,;....;.... , -".. 'f' ....-;.".r... ..,.~ :if",: ;~~ l' ~. '!" ,.,~ ~ \~'" .".."......... .>;'" ;,..::" : : ;e':-~ Pro' . 'sea"ititerest" taiEds tiaseci"on ~the City' s ~ antici . ation 'that' itfWill "n ~f iSsUe1iioie.~tblur$HbriUlion in'tax '.y. ...... """: ~,.."., ......;..,..k'....'.'.".......... .......... .~........ 1.....D2!................... ;t,,':~".:,'''.r.'.. .(.","". :..;. :\;/~~: r,c!XeD.1'" ..~1lebriii'Cale1id8r ~.. e8i1~9~~:thei~or~theJ~Wil1.be~'l;ahk.:.,Ui1ifi~lQe$~(rhi~on26~(b l3t~?:. .~~:~:-:~~l~r~? ~f'tb..'.~::+~::l:."::lD;.....~;. x'::~~'i"Z:4f.?:" ."':.;~5',;::,-;: ;~~~:,.::.:.,;-:.,::-~~.::...,~::t:.~~~~.:..J~~;,,\:;:~;;1~~{~f::#~;t'-:;:~:. ..... 4':::..;:;;..~(~~..~.. ~.~: k ',..'~ ". ..0._ e..,ul,,~l.lG:lAeyq1Ue..~pu!'.......I.......!,l...."'...~~.~.~.~.........,...~.{t;;,t..._...J.f,..~):.!l."'.. . .~.~;, _,'"ri.4....;fl-!'~.. *..:r~~i~.11.51~t~.~.~.~.:!~i{0~i.~~{l.~.~.~~;,~j.. .jti:'~~~~;f'-;.i-.!Is;~.~]~:t~~.t.~$it..~r..'i.~..~~~: '. .~i ff.!g~.~.'~.. , ~I:V..'f.r~Encl~~edplease tind.a:.cop~@f;~1iip_~entl~ .~ocUD.lents, for.y6Ur.te)j~.':.:,..~m~n~ l.}S,. ".' ../~~~?::.,i'~l~ .$~ :ti.~~:.::;:j;~,~:.~.;f;:~t!t;J:if;.~;:{i.~); .~.{.;i~f}~~~~~~:~~.;,{(\2,~~t~.~~):.::;~~::'l:j{~r:'.~~'.;~.'i~;.:f~;f.~~;:~.::~~?:Jt;~$~~..:.%~~;~!:~~~~,:{)j';.;..:t..1~~~, ~i~~t~~;\'j..~.::..~.\:~~r...;,:~$;?~::~-i:.;~:~.:~;~;. [?P)~~:~~~1ik.~~:,:,;:.'.:!.~..,/~~~~~.:;f~,~~ 1':~::- ~~~ ;:~lrr.i~il;;.".~t~::H:tr{~i~:frr.~;;~~;:N~\;~;J'(~if:W.t ''1~~:(?; ~~.;FUriQiitg:~'Upon.C1osin8ARivefside.Natiorial.B'ai1l(~vill:.proyi4~::fiuidijig~ t01~tJ1eJ;itt of.'a'r~an.a~in.~e .ain9~J~i :: ,~::;.~:.:~'};.of $14.5;~1t:.OO~;Thtc~y1h:g tplace '~this 'tnoney'Witlr a' fuWldafi:titutioii~ofjh~..~ciiY~s ~hoice-.toi.be~';. . .'./+t:t~~~,~~':araain~(J8\{.irfol :. a :'.: .tri~b.'":y~ndors.~as.~needea.tu 'on d~1iV'e.~~d~~ei: t~bf; . .~..,. !'tneht?ai Cei:ti.ficate~..of:h: . '.'. ... .. , '_" ..,.... "',' ,_. . P .YD.:1.. ......"..~.. . .... .'. _ .. ." " " .... ..p,. . . .'~... ~,..r-.. ,.......... p .~". .<..~.,p. ..."... ... ...... J . ..,. *,. 1:~;I;~; ~<"~acce' tan~..m~h,bit ~c:)~'iIn~e:' acka e Will then be~si'_ed b' ':U1e~Ciffi be...~~.:~~leasEtac1df e::~w..therrbe~? '......_..,'.' ." .P.... ,\~~ "~~:'.. ..............'r>.".; p.. g -, ...... '.' '. . ~.. . y .. :.....-l...:~~.,~.. .~;~i~~, ~~"P.~~g-~:... ~." :....,.. ......, /.'2::.;;.;._..~.signedby-the City ~rtifybig-'sati$factory delivery'~d acceptan~e from~tlie ':ven~~r;"...'!'-:j:..:~.;.; :'~:'>~~ . ;-', J.,~' .. ".;;.- -,:-,.: : :'.. '. .~ :_..:" :,',_:.c :.... .. ...,:..: ~ .~!~,: J;.~'~: ''i :~:. .. ......:: .' .:,~ .: . '. ..,'~ ", ~~ "\!:':'~~'- -:..~.:.~~:::.t~;;::; (<.~.:~:' . . '. .' -:~.'.~ ':;." .,.;-: .:;:~ <;-1~",:' :..~';":~fr."'~:~;::"'~ "'-7~' ~.:~::..:.~.~~~.:~~~." ...j';Jl'~"~' ....::: ;....;.--:.-:..)..c: " ':':. .:,-...;.\ '.~~ ':'~:hi,:~,~.~.r~....~/tr:~~"J!:~r;;.~j....i;;":-'" : ;5i~':! ~~~"~4 ;:.: ~,'~_"_ .......,. ..._,...~. .' ..o.._:......i.r:~:.t4 ,', '. '., "',,,~ ,.'.~;; .. .- ....'.I,..,......'j~."l:;:.,....i<,;.. ;....r.. ~::"':. .'...,....... ~..':.;".;~.:~ ,.!:...I;;;:',;~::,~.:.....,..;'.:!'~ :. ,'. ....~. :~.,....~~~~.~r.i~,t';*:.:..:. .:. : \<;~~t:'.".t~ :~'f:;,...;-'s:..;;;::.\.:~....ir*.&r.~:~;~i~,:~\.~~~~~~ik.~.~,~.;..~..:....n~~.~;f ~tT:';:::':::';~;:\:::;~ · ,. /':.~:~'$!f{~';':{;~~l.. ::~~.' ;"!:';:~'5 "":;i ~>}~J1i1.ri1~,"~~:~~~~:'3it "\1-'';!~' .~~.~.{ Fl;'~~~:~>} ~;L:; ,;~'')'f:: ";: ',;;~.~f~:l%\"1"~*~i::~r.: .<:.1,~.~.;':.:~t~~?';~ ".:.;1'.; ~~~~'j':::- ':\' :.;~,:~~;~~~~fifJ7fiS1~f..:~ '. . ~ :.; ~~:: :;,,i: ;~:~ . :~...,',,5~~(~~::.~ .......... .'.,....... '.,"1;,0-' .i. ,.....~,.'..~~:(~."'.~... '-." :..,.. ';'. ..~..' ~..~~-.'j ~ :\ ~v.,."" '.. . 't], .. ,'.,ij' "...,..... ',:<'" ...... ::.' ..,,:'~:'.,-".,::.;~,7:!;~... ";,,;: :-..~ :'. ~ "'~:'~~~+."'~c;)""':.;i::~ t~): ':,'::':'.:~':.' . ~.:.:~. ~.' .,:..... :; :~:~... :::;:,. ~.;: Q. ;,~.; ~t .;i~' . ~;,.,'. ' ~.. .:. ,~:.~.: '.'f.: :!'i:...... _~ .. .. _ . ..~..... 1,:1. . '",...:.. ("~_' .'h.!.....~:..,.. .,,~..\,~ ~ '''':t;.}",!-.,-.~.''').'' ....... ~;:. '...~~~ .:....:.f\'~ ~::N ... ,.~~.. . ~~ ,,:.t~::a~~"" :"':.'.:i-.r-",:.i:~~" I ~ . Purchase Option - Title to the equipment shall be vested with the City of Parkland. The City will have full ownership at the end of the lease term or by prepaying the remaining principal balance (with 60 day notice). prior to end of the lease term. Remaining principal balance shall be displayed on Exhibit B of lease agreement. Sample amortization schedule included in proposal. :-x,:.. . Fees- Only those fees (Le. late payment fees) which are expressly stated within the lease documents will be associated with this transaction. . Financial Information - Should it be determined that the City Parkland wishes Riverside National Bank to provide funding for this transaction, we would appreciate the City providing financial statements for fiscal year ending September 30, 19~. . - , Sincerely, , , Riverside National Bank of Florida ~~~ Alma P. ~:}4or Govenunent Lending Officer Attachment :crm . .... ~ . .: ", ..... ~.. .0.. ';. ....... :...~.':. .~.~: ~ ~~ . .~: ..~~~,.~~~,..~ ~ . :.'". t~:~.. -:"" . . .'.' ::'jti€h1t.. ~;:~;~~':~~ - .,_.;',;-itEj~:j~:\~~.2fi~-"27:;li~~{i:. . ._ ._._.....,. .).:t. . ~.. ,.'_ ,. __, _....._,.,~......'~, .._..~ .... . _ .1."... v. ","r. 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'. .'. ~..../~:~) .( '... - - ..::: ~'. .~. .:"\'. .=...;.~:..~.f:':~;f...:t~~ :;..~:~~.~ ...,.:....-J...~.~.:.:q~~..._ - - . ..,.'; ..-......-.... ........ ~..'!~4'!!"~.~.. ..,--.r('P~.,..c.. .:-..', . .,_ .~._,"'.l~~~~.e,.~.ry..t'.~~~..,;r;. .__II.'~,,,...J:'i. - .'.J;~,~.{...\;...~\:~1P.:..~~t:.::~./.-.--::'..~..:,:..;;~....~...~.~........,.A.. ._".". ., :.~ ,., --.':. ,"":;-q~ ,::....n .~..'.~. lr,~'*;''''':C.l.,l:.;~:-:1..' ':.,."'~'" -.- " "...... a h:;'" .f"'~':O;.;;"irif!. ..~.tj!;~..:,.,.....;..:;.. ~~!...,.~.,,.....,,.;~,.., . ....:".. ~:~",' ....,..7. ~~~..~."':,.... '~~--;h ......." ..... . . "J<:~"" ,.;)-..ti ..,;." . , ~~~iI$~1.1~cf::fE1t~t~.::;,.. "~'~~lt~~J.I~~I~-~~~.~y~i!!l L~ f~/ <~~ MANUFACTURING INC. June 30, 1995 Chief Bailey CITY OF PARKLAND 6500 Parks ide Drive Parkland, FL 33067 Subject: New Fire App~ratus Dear Chief Bailey: We acknowledge, with thanks, the Purchase Order #08212 covering ONE (1) PIERCE RESPONDER PUMPER, our Shop Order Number E9614. The opportunity to place this PIERCE apparatus in your city is greatly appreciated and we are certain it will fulfill your every requirement. Yours very truly, PIERCE MANUFACTURING INC. t~tV.~"t Wayne W. Batley Sales Administration Manager WWB/pk c Ten-8 Fire Equipment Inc. ~ .2600 AMERICAN DRIVE. P.O. BOX 2017. APPLETON, WISCONSIN 54913. 414-832-3000 ~/JJJ~commercial & Municipal Capital, LLC. .TAMPA · CINCINNATI · LOUISVILlE 201 E. KENNEDY BLVD, SUITE 712 TAMPA. FL 33602 PHONE: (813) 222-8750 FAX: (813) 222-8751 .:-z MUNICIPAL LEASE PROPOSAL JUNE 18, 1995 LESSOR: COMMERCIAL & MUNICIPAL CAPITAL, LLC 201 E. KENNEDY BLVD., SUITE 712 TAMPA, FLORIDA 33602 LESSEE: CITY OF PARKLAND, FLORIDA VENDOR: \ EQUIPMENT: LEASE COMMENCEMENT: EQUIPMENT DELIVERY:, LEASE STRUCTURE: ' ..,....... .,....-....-". -'-"- TEN-8 FIRE EQUIPMENT PIERCE FIRE TRUCK JULY 30, 1995 (ESTIMATE) JANUARY 30, 1996 (ESTIMATE) (7) ANNUAL PAYMENTS DUE IN AnV ANCE ~~) ,At' $145,672.00 II}'!' $ - 4,447.00 (EQUIVALENT TO ESCROW EARNINGS AT 6.11%) S + SlOoo 5141,735.00 EQUIPMENT COST: PRE-PAY DISCOUNT: PERFORMANCE BOND' FINANCE AMOUNT: PAYMENT: INTEREST RATE: TOTAL INTEREST: $ 23,830.00 5.80% $ 25,075.00 PRICING EXPIRATION DATE: JULY 31, 1995 CREDIT APPROVAL: TInS IS A PROPOSAL ONLY, AND DOES NOT REPRESENT A COMMITMENT TO LEASE. FINAL ACCEPI"ANCE WILL BE SUBJECI' TO CREDIT APPROVAL BY THE SENIOR FINANCE COMMITTEE OF COMMERCIAL & MUNICIPAL CAPITAL, LLC . COMMERCIAL & MUNICIPAL CAPITAL, LLC BY:~~ DATE: "-;l ~.. qS- . ., \ ~ . 1 \ ., : - .~..._- ~. ..~ --. ..- PPFG PRINCETON PUBLIC FINANCE GROUP 1420 SOUTH MILLS. SUITE E. LOOI. CALIFORNIA 95242 (209)367-7788 (209)367-7799 FAX June 27. 1995 ...... City of Parkland Office of the City Clerk 6500 Parkside Drive Parkland, Florida 33067 Attention: Judith C. Kilgore \ ... The following is in. response to your request for a bid for lease purchase financing. Terms and conditions are as follows. * Equipment: One pierce Manufacturing Inc. Fire Truck. * Cost of Equipment: $145,672.00 * Lease Term: 7 years * Method of payment: Annual payments in advance * Annual payment in advance: $24,476:52 * Bid includes all cost for initiating the lease purchase agreement * Fixed interest rate: 5.78% * Total interest to be paid over life of the loan: $25,663.64 * Residual: Zero We will require 1992 & 1993 fiscal year annual financial reports and any current interim financial statements. This proposal is subject to A) documentation acceptable to both parties B) review of financial information. This proppsa1 will be good for 30 days. In the event that this transaction is not completed in a reasonable time period after this proposal is accepted, the final rate may be adjusted up or down to a like term treasury index. ~~~or then opportunity of bidding. ~t Representative \ ,