HomeMy WebLinkAbout04-003RESOLUTION NO. 04-003
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND,
WASHINGTON, AUTHORIZING VEHICLE PURCHASE FROM THE EQUIPMENT
RENTAL FUND FOR TWO CITY VEHICLES, AND AUTHORIZING THE MAYOR TO
EXECUTE A LEASE AGREEMENT FOR THE CITY MANAGER
WHEREAS, the City Council determines it appropriate to authorize the purchase of a
vehicle for inspections performed by the BCD Department, and has budgeted for the purchase in
the 2004 approved budget; and
WHEREAS, the City Council determines it appropriate that, as provided in the City
Manager's Employment Agreement, to provide, at lesser cost to the City, a leased car to the City
Manager, in lieu of a monthly car allowance for the City Manager, and determines it appropriate to
authorize the purchase of a vehicle for this purchase.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Port
Townsend as follows:
o
The City Manager is directed and authorized to sign all necessary documents and
agreements for the purchase of two vehicles from the equipment rental fund as
follows:
BCD vehicle for inspections in the approximate amount of $15,000; and
Vehicle for lease to the City Manager, in lieu of a monthly car allowance,
in the approximate amount of $26,000.
The Mayor is authorized, as provided in the City Manager's Employment
Agreement, to enter into a lease agreement with the City Manager for the lease of
a vehicle to the City Manager in lieu of the monthly allowance received by the
City Manager pursuant to the City Manager's Employment Agreement, consistent
with the following terms: See Exhibit A.
The City Manager is directed to include the purchase of the vehicle for lease to the
City Manager in the next supplemental budget ordinance for approval by the
Council.
ADOPTED by the City Council of the City of Port Townsend at a regular meeting
thereof, held this second day of February 2004.
Catharine Robinson, Mayor
Attest:
Pamela Kolacy, CMC ' /0/
City Clerk
Approved as w form:
John P. Watts
City Attorney
1 Resolution 04-003
EXHIBIT A - TERMS OF LEASE
Closed end consumer lease:
MSRP $26,646.00
Base Cap Cost $26,646.00
Costs Added to Lease $ 0
Cap Cost Reductions $ 0
Adjusted Cap Cost $26,646.00
Residual Value $10,391.94
Money Factor 0.00063
Term (months) 60
Sales Tax °A 0
Excessive wear and tear protection
Insurance (paid by City Manager)
· Optional sale of vehicle to City Manager at end of lease term for residual value
· Consistent with State and Federal guidelines as applicable
· City contribution not to exceed net automobile allowance under City Manager
Employment Agreement
2 Resolution 04-003