HomeMy WebLinkAbout6.e. Authorize Financing for Lease/Purchase of CIP Equipmentto -a
CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: March 20, 2001
AGENDA ITEM: Authorize Financing for Lease /Purchase of
AGENDA SECTION:
CIP Equipment
Consent
PREPARED BY: Jeff May, Finance Director
AGENDA NO .& .
s ' 6
ATTACHMENTS: List of CIP Equipment That Will Be
APPROVED BY:
Financed with Lease /Purchase
Attached is a list of the 2001 CIP with items highlighted that are to be part of the 2001 equipment
lease- purchase. The lease- purchase was discussed during the 2001 budget process in detail and
also in a memo sent to the City Council dated March 1, 2001. At this time I am looking for
authorization to proceed forward and work with Springsteds, our financial consultants, in obtaining
the financing for the lease- purchase of the 2001 CIP equipment.
RECOMMENDED ACTION:
Authorize staff to work with Springsteds in obtaining the lease- purchase financing of the 2001
Equipment CIP items.
COUNCIL ACTION:
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_MSA
Funds
Building
Street
Equip mnt
Park Imp
From
Water
Sewer
Storm
Water
Sewer
Storm_
Total
Year
Item - Description
Department CIP
Levy
PIP L�
CIP L�
Assess
- Fund
State
Core
Core
Core
Utilit r�_
Utili
utility
Donations
Other
Cost
2001
Replace Skate Tile
Arena
28,000
_ 28,000
2001'
_
Replace Arena Ice Resurfacer (Electric)
_
Arena
-
78,000
78,000
2001
Commercial Slreetscape - Phase 2
Comm Dev
428,300
182,600
31,500
320,100
2 512,600
3,475,100
2001
1995 Lease- Purchaso (10- Years)
Council
50,800
50,800
2001
1996 Lease - Purchase (10- Years)
Council
64,900
64,900
2001
2001 Building Lease - Purchase (15- Years)
Council
160,000
160,000
2001
PC Printer Replacements (From 1993 -94 )
Finance
-
10,000
10,000
2001
PC Workstation Upgrades (1997 & Older)
_
Fin
-_
- 35,000
35,000
2001
Refurbish Unit #35183 (Pumper 15 Yrs O_ id )
Fire
_
_-
60,000
60,000
2001'
Pumper Replacement ('78 Vehicle)
Fire
325,000
325 - - --
-- 2001
_
Repair Community Center Brick
Park & Rec
18,000
_
_
_.
_
2001_
Update Master Plan
Park & Rec
_
- 25,000
_
25,000
_
2001
_Parks
Dallara Upgrades (ADA Upgrades)
Park &_Rec
_
_30,000
_ -_
_ _.._
- -__
_ ... 30,000
2001
Biscayne Pointe Park Improvements (New Park)
_
Park & Rec
_
60,000
60,000
2001
8 Hand -Held Radios (New)
Police
5,000
5,000
2001
1 Squad SSell Back 1 - #9680)
Poice
_25_,000
_ _ _
- _
___
_- -..
25,00
2001
PW Bldg Add'n Lease /Punch (Yr 3 of 20)
Pub Works
24,000
10,000
10,000
44,000
2001'
Salt/Sand Building
Pub Works
50,000
50,000
2001
Structural Overlays on Older Streets
Pub Works
17,000
- -
- _ --
--
- -
-
_
__ _ _ _
-
2001
Street Re @ CSAH 42
-
Pub Works
-
-
50 ,000
225 000
00 000
1 60,0_
_ 375,000
2001
South Rose Park Area Improvements
Pub Works
140,000
_
- 20,000
100,000
20
80,000
_
_00
_ 420,000
2001
Street Recon -Dodd Blvd -S /P to Delft Ave
Pub Works
420,000
100,,000 000
50_
90 ,000
100,000
_
-
760,000
2001
CSAH 42 Improvements (Hwy 3 to D /P)
Pub Works
150,000
200
100,000
-
175,000
_
550,000
1,175,000
2001
70 KW Generator (Replace #2) (P.W. BuildingL
Pub Works
30,000
_. _ _ 3 0, 00 0 _
2001'
Dump Truck #428) (1990 Vehicle)
Pub Works
--
. _
100,000
100,000
2001'
Dump Tandem (Replace #429) (1991 Vehicle)___
Pub Works
100,000
100,000
2001'
Grader replace #413 - 1986 Grader)
Works
_
_
_ _
_ ____
200,000
2001'
Backhoe (Replace #407)
Pub Works
__ _
40,000
40,000
40,000
__
120,000
2001
Well #12
Pub Works
300,0
_
300,000
2001
Storm Water Projects
Pub Works
2,000,000
2,000,000
Totals
202,000
570,000
_ 280,700
935,300
115,000,
325,000
592,600
161,500
695,100
10,000
30,000
80,000
6,193,600
10,190,800
Total Levy - Year 2001 1,052,700
2001 Propose a 10 -year lease- purchase offset by a 5 -year lease- purchase expiring in year 2000
(1) Skate Tile funding comes from Arena Fund operations /reserves.
(2) Other funding for the Commercial Streetscape - Phase 2 is coming from a MN /DOT contribution to the project and from Port Authority funding(through a debt issue).
(3) Other funding for Structural Overlays comes from SKB User Fees.
(4) Other funding for the Chippendale Street Reconstruction Project comes from the County for their share of the project.
(5) Other funding for the South Rose Park Area Improvements comes from SKB User Fees and County contributions.
(6) Other funding for the CSAH 42 Improvements Project comes from the County for their share of the project.
(7) Other funding for the Storm Water Projects will come from a Storm Water Revenue bond issue. Repayment will come
in later years from the Storm Water Utility Fund and the Storm Core Fund.
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