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<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 4.75%. Debt service will <br />be paid on a quarterly or semi-annual basis, Sufficient funds are budgeted in the FY 2006-07 <br />Solid Waste Management Department 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 325D~ Excavator at a total cost of $270,277 tc Gregory Poole of Raleigh, North <br />Carolina in an amount not to exceed $270,277; and 2) authorize the Purchasing Director to <br />execute the necessary paperwork, <br />