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MEMO TO: MAYOR AND CITY COUNCIL <br /> FROM: PUBLIC WORKS FOREMAN ULRICH <br /> DATE: SEPTEMBER 6, 1990 <br /> SUBJECT: PURCHASE OF SEWER TV EQUIPMENT <br /> After researching the interest rates proposed in the Cues <br /> contract and investigating the sewer future maintenance fund <br /> with Finance Director Brager, it was decided that if the City <br /> is going to purchase this equipment, we should use our own <br /> funds . The interest rates from Cues were 8. 66% for 3 years, <br /> 9 .25% for 4 years, 9 .58% for 5 years. In financing this <br /> equipment in-house, we are requesting a budget transfer <br /> amending the current year's capital budget. This transfer <br /> would be from the Retained Earnings Designated for Future <br /> Maintenance Fund, balance being $74,851.00 which is an <br /> accumulating fund, to the Sewer Operations Capital Equipment <br /> account 730-4121-703. <br /> RECOMMENDATION: <br /> Staff recommends the purchase of a TV trailer unit from Cues, <br /> Inc. for $50,000 to be charged to Sewer Account, 730-4121-703 <br /> and adopt Resolution No. 3085 authorizing the use of $41,000 <br /> of Retained Earnings Designated for Future Maintenance for <br /> purchase of said equipment and to approve a budget amendment <br /> of $41,000 . <br /> mu/mjs <br />