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Meeting Date:
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11/17/2010 - 7:30 PM
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Category:
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Untitled
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Type:
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Action
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Subject:
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14.7 Resolution for a Master Equipment Lease-Purchase Agreement for the purchase of 19 school buses
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LCAP (Local Control Accountability Plan) Goal:
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Enclosure
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Master Equipment Lease-Purchase Agreement (31 Pages)
Certificate of Incumbency
Form 8038G
Master Equipment Lease-Purchase Agreement - Attorney Signed
Resolution #10/11-32 Master Equipment Lease-Purchase Agreement
W-9
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File Attachment:
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Summary:
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A resolution of the governing body of Mt. Diablo Unified School District authorizing the execution and delivery of a master equipment lease-purchase agreement with PNCEF, LLC, DBA PNC Equipment Finance, as lessor, and separate lease schedules thereto and escrow agreement for the acquisition, purchase, financing and leasing of certain equipment within the terms herein provided; authorizing the execution and delivery of other documents required in connection therewith; and authorizing all other actions necessary to the consummation of the transactions contemplated by this resolution.
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Funding:
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General Fund - Special Education Transportation
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Fiscal Impact
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$104,996 semiannually for seven years
$104,996 in Fiscal Year 2010/11
$209,992 Annually from 2011/12 through 2016/17
$104,996 in Fiscal Year 2017/18
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Recommendation:
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Approve Master Purchase Equipment Lease Agreement and Resolution as presented.
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Approvals:
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Recommended By:
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Signed By:
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Bryan Richards - Chief Financial Officer
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Signed By:
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Steven Lawrence - Superintendent
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Vote Results:
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| Original Motion | | Member Gary Eberhart Moved, Member Sherry Whitmarsh seconded to approve the Original motion 'Approve creation of School Bus Driver and Special Education Transport Assistant positions as presented. Approval of tax-exempt lease/purchase agreement as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Gary Eberhart | Yes | | Paul Strange | Yes | | Linda Mayo | Yes | | Richard Allen | Yes | | Sherry Whitmarsh | Yes | |
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