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Award of Sole Source Lease Agreement With Ring Power Corporation for Landfill/Soil Compactor for Fleet Department (Amount: $358,716.24)
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BRIEF OVERVIEW
The Hernando County Fleet Department is requesting authorization to lease an 826K Landfill/Soil Compactor. Ring Power Corporation is an authorized independent dealer of various CAT models. Ring Power Corporation is an authorized dealer providing services for CAT products north of Sarasota Florida.
Equipment is included in the Fiscal Year Vehicle list that was approved by BOCC No. 12882 on October 10, 2023.
The Procurement Department posted "Notice of Intended Single Source Lease" of equipment on January 5, 2024. As of January 26, 2024, the Procurement Department received no challenges from any sources.
The Hernando County Fleet Department is requesting authorization to lease an 826K Landfill/Soil Compactor per the Lease Agreements and Maintenance & Repair Agreement as follows:
* One (1) 826K Landfill/Soil Compactor at $29,893.02 per month
Total Lease per month: $ 26,830.00
Total Lease per year: $ 321,960.00
Total Lease for 3 years: $ 965,880.00
Total Maintenance & Repair per month: $ 3,063.02
Total Maintenance & Repair per year: $ 36,756.24
Total Maintenance & Repair for 3 years: $ 110,268.72
Total per month: $ 29,893.02
Total per year: $ 358,716.24
Total for 3 years: $ 1,076,148.70
FINANCIAL IMPACT
Funding in the amount of $358,716.24 for Fiscal Year 2024 is budgeted in Account No. 07602-5304406 Class I Operations ($358,716.24).
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson's signature on the attached sole source Rental Agreement and Premium Maintenance and Repair Plan Agreement for Ring Power Corporation in the annual amount of $358,716.24 for leasing of 826K Landfill/Soil Compacto...
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