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2 <br />telecommunication service to the organization, CHCCS will need to upgrade CHCCS enterprise <br />network and infrastructure. <br />To improve the district's technological infrastructure, CHCCS will upgrade the core and <br />intermediate network switches. The total cost for this equipment, 5 -year manufacturer support, <br />and engineering services is $1,578,338. This total includes a trade -in credit of $160,000 and a <br />product incentive discount of $175,204 for a total discount of $335,204. <br />The State of North Carolina requires that the County and Local Government Commission (LGC) <br />approve a lease agreement if the lease term is 5 years or longer. <br />Additionally, the Board of Education has received and accepted a proposal from NWN <br />Corporation /Cisco Systems Inc. to lease /purchase the equipment and infrastructure upgrades <br />for an amount not to exceed $1,428,323. CHCCS plans to negotiate a lease term of 59 months <br />with Key Government Finance, Inc., which will not require LGC approval. <br />FINANCIAL IMPACT: The financial impact to the County is approximately $1,428,323 and is <br />included in CHCCS Capital Investment Plan. <br />RECOMMENDATION(S): The Manager recommends that the Board approve, and authorize <br />the Chair to sign, the resolution regarding a lease agreement between Chapel Hill — Carrboro <br />City Schools ( CHCCS), NWN Corporation /Cisco Systems Inc., and Key Government Finance, <br />Inc. <br />