HomeMy WebLinkAboutRES 25-012RESOLUTION NO.25-012
BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF BEAUMONT:
WHEREAS, on November 2, 2021, by Resolution 21-293, City Coruicil approved the
purchase of one (1) Pierce Enforcer Fine Pumper Truck in the amount of $808,958,00; and,
WHEREAS, bids were requested for a fixed interest rate finance agreement to reimburse
the City for the purchase of the truck, which was paid on October 3, 2024; and,
WHEREAS, KS State Barak, of Manhattan, Kansas, submitted a bid at a fixed interest rate
of 5.710%; and,
WHEREAS, the total lease purchase cost including interest is $952,655,60; and,
WHEREAS, the City Council is of the opinion that the bid submitted by KS State Bank,
of Manhattan, Kansas, is in the best interest of the City of Beaumont and should be accepted;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COOUNCIL OF THE CITY OF BEAUMONT:
THAT the statements and findings set out in the preamble to this resolution are hereby, in
all things, approved and adopted; and,
THAT the bid submitted by KS State Bank, of Manhattan, Kansas, for a five (5) year lease
purchase agreement at a fixed rate of 5.710% and a total lease purchase cost of $952,655.60, as
shown on Exhibit "A," attached hereto, for the fixed rate lease purchase agreement, be accepted
by the City of Beaumont; and,
THAT the City Manager be and he is hereby authorized to execute a five (5) year lease
agreement with KS State Bank, of Manhattan, Kansas, sustainably on the form attached hereto as
Exhibit "B," for the purposes described herein.
The meeting at which this resolution was approved was in all things conducted in strict
compliance with the Texas Open Meetings Act, Texas Govermnent Code, Chapter 551.
2025.
PASSED BY THE CITY COUNCIL of the City of Beaumont tkis the 4th day of February,
Mayor Roy West -
City of Beaumont
Bid Tab
Bid Number: TF1125-01
Bid Name: Fixed Interest Rate Lease Purchase Financing Agreement - Pierce Enforcer Pumper
Bid Open Date: December 19, 2024
KS Statebank
Manhattan, KS.
* Bank Funding, LLC
Boyds, MD
Fixed Interest Rate Term
Four(4)Year
531%
4.51%
Five (5) Year
5.71%
4.51%
* Vendor did not demonstrate sufficient company information.