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2 <br />FINANCIAL IMPACT: Total purchase price, if approved by the Board, would be $433,996. <br />Sufficient funds were allocated within the FY 2008-2009 Solid Waste budget for the purchase of <br />the Recycling vehicle. Since the Sanitation Division is funded under the General Fund, staff <br />recommends that the Front Loader Refuse Truck for the Sanitation Division be financed over a <br />59-month period to take advantage of prevailing low interest rates. Assuming that financing can <br />be obtained at an interest rate of 4.5%, estimated total payment for the one truck over five <br />years should be approximately $258,640 including $41,640 in interest. A reimbursement <br />resolution is included to provide flexibility as to the timing of the financing. <br />RECOMMENDATION(S): The Manager recommends that the Board 1) award bid number 270 <br />to Piedmont Peterbilt of Greensboro, North Carolina at a delivered cost of $433,996 for two <br />trucks; 2) authorize the Purchasing Director to execute the necessary paperwork; and 3) <br />authorize the Finance Director to solicit a Request for Proposal to finance one vehicle,. with the <br />results of the solicitation to be brought back for Board approval at a later date. <br />