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File #: 220727    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 8/15/2022 In control: Council
On agenda: 8/25/2022 Final action: 8/25/2022
Title: Authorizing the Director of Finance to accept a proposal of Banc of America Public Capital Corp. ("BAPCC") to finance the acquisition of twelve ambulances and various fleet vehicles and equipment for the Fire Department ("Project"); estimating revenue and appropriating $7,500,143.00 in Fund No. 3230, the Equipment Lease Capital Acquisition Fund; authorizing the execution of any and all documents and agreements necessary for the financing; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon completion; approving lease counsel; and declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.
Attachments: 1. Fact Sheet FY22 (2), 2. Fire Ambulance & Vehicles Accounting Forms, 3. Fiscal Note, 4. Ordinance No. 220727 for Fire Ambulance and Fleet Purchases (002), 5. Authenticated Ordinance 220727
ORDINANCE NO. 220727

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Authorizing the Director of Finance to accept a proposal of Banc of America Public Capital Corp. ("BAPCC") to finance the acquisition of twelve ambulances and various fleet vehicles and equipment for the Fire Department ("Project"); estimating revenue and appropriating $7,500,143.00 in Fund No. 3230, the Equipment Lease Capital Acquisition Fund; authorizing the execution of any and all documents and agreements necessary for the financing; designating requisitioning authorities; authorizing the Director of Finance to close project accounts upon completion; approving lease counsel; and declaring the intent of the City to reimburse itself from the lease purchase proceeds for certain expenditures.

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WHEREAS, on June 2, 2020, the voters approved a one quarter cent (1/4 cent) increase in the Fire Sales Tax, raising the tax from 1/4 cent to one-half cent (1/2 cent) for the purpose of meeting the capital needs of the Fire Department. The Fire Department has determined that the replacement of the current fleet of Ambulances is of high priority; and

WHEREAS, the Fire Department plans on replacing twelve ambulances in its current fleet on an annual basis, thus establishing a fleet lifecycle of sixty ambulances over five years. The first twelve ambulances replaced were those with the highest mileage and that contained the most outdated equipment; and

WHEREAS, the City financed the purchase of twelve ambulances pursuant to Ordinance No. 200499 passed by City Council on July 9, 2020 and twelve ambulances pursuant to Ordinance No. 210534 passed by City Council on June 24, 2021; and

WHEREAS, the City desires to finance the third purchase cycle of twelve ambulances through Conrad to replace the current ambulance fleet; and

WHEREAS, the Fire Department's Inspection and Investigation Division needs to replace a portion of its current fleet due to high mileage and age in excess of 17 years to provid...

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