Agenda - 09-02-2003-8h - Laserfiche WebLink

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2 Twelve vendors were solicited for Orange County's bid number 246. A pre-bid conference was attended by three vendors, and one vendor submitted a bid. Pursuant to the attached bid tabulation, Gregory Poole of Raleigh, North Carolina submitted the lowest responsible bid that was responsive at a delivered cost of $308,451 for Caterpillar D8R II. This cost includes atrade-in allowance of $140,500 for the 1997 unit. FINANCIAL IMPACT: Total cost of this action, if approved by the Board, would be $308,451. Staff recommends that the Board authorize the Finance Director to arrange for an installment purchase agreement for this equipment through a local financial institution at the most favorable interest rates available. Five-year debt financing of this equipment will spread the cost impact over its useful life and will preserve additional short-term cash resources in the Solid Waste Enterprise Fund. Annual debt service payments for such an arrangement would likely be on the order of $65,000 - $70,000. The 2003-04 approved Solid Waste Enterprise Fund budget includes sufficient funds to pay the anticipated debt service for the Crawler Dozer. RECOMMENDATION(S): The Manager recommends that the Board: 1) award bid number 246 to Gregory Poole Equipment Company of Raleigh, North Carolina at a delivered cost of $308,451; 2) authorize the Purchasing Director to execute the necessary paperwork; and 3) authorize the Finance Director to solicit and execute the all administrative actions and documents associated with completing an appropriate installment financing agreement for this equipment with a local financial institution.