HomeMy WebLinkAbout04/24/1984 Finance Committee Minutes
April 24, 1984
9:00 a.m.
Mayor's Conference Roam
City Hall Waterloo Iowa
Chairman Dowie presiding.
Members present: Dowie, Getty.
Discussion continued regarding the needs of the Street Department to
obtain a street sweeper for operations.
Mr. Getty asked if we had looked into the possibility of a lease/
purchase Agreement in lieu of an outright purchase.
Charles Marbles, Purchasing Agent, stated that he had looked into
several options with the Herman M. Brown and Company regarding the
Vacall E-19.
Marbles continued that at this time he could not report which lease/
purchase agreement would be the most advantages for the City to
consider but could report back in the future on the number of years
and the interest rate the City could obtain.
Larry P. Burger, City Clerk/Auditor, reported that he would recommend
that the City would enter into a lease purchase agreement for a
street sweeper considering that it is close to the end of the fiscal
year and a lease purchae agreement would be most advantages to the
City due to a possible cash flow problem.
Councilperson Getty, Chairman of the Public Works Committee, stated
that his committee still recommended the purchase of a Vacall E-19
Street Sweeper.
Burger stated that he and Mr. Marbles were looking for were some
guidelines on whether the Council would be receptive to the
lease/purchase agreement on a street sweeper. Burger continued that
the Staff would negotiate a lease/purchase agreement with Herman M.
Brown and bring it back to the full Council for approval at a later
date.
Moved by Getty, seconded by Dowie to instruct the staff to negotiate
a lease agreement with Herman M. Brown for a Vacall E-19 street
sweeper and to bring back the details for the lease/purchase
agreement to the full council for approval at a later date. Motion
carried.
With no further business before the Finance Committee, the meeting
was adjourned.
Larry P. Burger
City Clerk/Auditor