Res 055-2018Resolution No. 55-2018
Resolution awarding a bid for a Five -Year Capital Lease purchase to
Signature Public Funding Corp. for the upgrade of the City's traffic
signalization in the total amount of $444,102.
WHEREAS, the City desires to purchase equipment to upgrade the traffic signalization
system in the amount of $544,225.00 through a five-year capital lease/purchase agreement;
and,
WHEREAS, the City received bids from qualified financial institutions for this capital
lease on March 20, 2018; and,
WHEREAS, the City Council finds that Signature Public Funding Corp. is the lowest
responsible bidder for this capital lease.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS, THAT:
The bid for a 5 -year capital lease purchase for the upgrade of the City's traffic
signalization to cellular communication is hereby made to Signature Public Funding Corp. in
the total amount of $444,102.90, and the City Manager is authorized to execute all documents
necessary to effectuate said lease purchase.
PASSED AND APPROVED this the 1St day of May, 2018.
- nr
's
L�rl " a- IVA
MAYOR
ATTEST:
Deputy City CI., k
RFI' # 04-18 CAPITAL LEASE - TRAFFIC SIGNALIZATION UPGRADE
CAPITAL FINANCE AMOUNT: $414,225
LEASE TERM: 5 YEARS
* Carlyle Capital Markets Inc was Nan Responsive
DOCUMENT
INTEREST
ANNUAL
RESIDUAL
VENDOR
TOTAL
EEE
RATE
PAYMENT
BUYOUT
BMO HARRIS EQUIPMENT FINANCE
N/A
3.42%589,518,58
N/A
$447,592.90
MILWAUKEE WI
BRANCH BANKING & TRUST CO.
N/A
3.14%
588,982,46
N/A
$444,910.30
CHARLOTTE NC
PINNACLE PUBLIC FINANCE
N/A
3..18%
$89,045.33$89,045.33
N/A
$445,226.65
SCOTTSDALE AZ
SIGNATURE PUBLIC FUNDING CGRP
$350
3.03%
08,750.58
N/A
$444,102.90
TO1NSON MD
WELLS FARGO EQUIP FINANCE, INC
750
3.77%�90,246,$90,206.741
$451,784.70
ALBUQUERQUE NEVI
* Carlyle Capital Markets Inc was Nan Responsive