Orange County NC Website
Browse       Search
<br />cost of $346,043, The terms of the contract call for the items to be sold and serviced through <br />the local Caterpillar dealer. Gregory Poole of Raleigh, North Carolina is our local dealer. <br />The statute that authorizes "piggy-back" bids requires that the entity advertise its intentions ten <br />(10) days prior to a meeting in which the matter is to be considered. Orange County has fulfilled <br />that requirement. <br />FINANCIAL IMPACT: Total purchase price, if approved by the Board, would be $346,043. <br />Staff recommends that the truck be financed over a 59-month period to take advantage of <br />prevailing low interest rates and to maintain the cash position of the Solid Waste enterprise <br />fund, It is assumed that financing can be obtained at an interest rate of approximately 4,75%, <br />Debt service will be paid on a quarterly or semi-annual basis. Sufficient funds are budgeted in <br />the Solid Waste Management Department FY 2006-07 Budget, <br />The Finance Director will prepare the necessary documentation and schedule required Board <br />actions at subsequent Board meetings related to the financing of this and other equipment <br />acquisitions. <br />RECOMMENDATION(S): The Manager recommends that the Board: 1) award a bid for a <br />Caterpillar Model 730 Articulated Truck at a total cost of $346,043 to Gregory Poole of Raleigh, <br />North Carolina in an amount not to exceed $346,043; and 2) authorize the Purchasing Director <br />to execute the necessary paperwork, <br />