| | | | | | | |  | Committee Assignments - C4 D
COMMISSION MEMORANDUM |
| | | |
| | | | | | | | | TO: | Honorable Mayor and Members of the City Commission | | | FROM: | Jimmy L. Morales, City Manager | | | DATE: | May 16, 2018 | | | |
| | SUBJECT: | REFERRAL TO THE MAY 18, 2018 FINANCE AND CITYWIDE PROJECTS COMMITTEE TO DISCUSS EQUIPMENT FINANCING. |
| | | |
| | | | | | | | RECOMMENDATION
| | Referral to the Finance and Citywide Projects Committee to discuss equipment financing. Administration requests that this item be heard at the next available meeting, which is on May 18, 2018, as it is time-sensitive. |
| | | |
| | | | | | | | ANALYSIS
| The City will use an equipment loan to finance the purchase of new and replacement equipment over their useful lives of five, seven or ten years. This financing method will permit the City to acquire equipment when it is needed, while spreading the cost over the life of the equipment at very low interest rates.
The loan will be repaid with non-ad valorem revenues over the life of the equipment. In addition, the required principal and interest payments will be paid from the operating budget of each of the departments purchasing the equipment.
|
| | | |
| | | | | | | | Legislative Tracking
Finance |
| | | |
|