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ACTION TAKEN: APPROVED
DISCUSSION AND ACTION ON A RESOLUTION THAT THE CITY MANAGER BE AUTHORIZED TO APPROVE AN AGREEMENT BY AND BETWEEN MASSACHUSETTS BAY TRANSPORTATION AUTHORITY AND CITY OF EL PASO FOR THE ASSIGNMENT OF OPTION RIGHTS IN ORDER TO PURCHASE THIRTY-FIVE (35) 40-FOOT LOW FLOOR COMPRESSED NATURAL GAS (CNG) OPTION BUSES UNDER FORMAL CONTRACT NO. 639 (IFB NO. CAP 9-01) AND APPROVE THE PURCHASE OF THIRTY-FIVE (35) OPTION CNG BUSES FROM NORTH AMERICAN BUS INDUSTRIES, INC. THE COST OF EACH BUS IS $391,147.32 ($401,147.32 NET OF DISCOUNT OF $10,000.00) PLUS SPARE PARTS IN THE AMOUNT OF $189,488.34, FOR A TOTAL PURCHASE AMOUNT OF $13,879,644.54. THE FUNDING FOR THESE BUSES WILL COME FROM A COMBINATION OF FEDERAL AND LOCAL FUNDING. FEDERAL FUNDS IN THE AMOUNT OF $4,531,901.00 HAVE BEEN ALLOCATED FOR THIS PURCHASE WITH A REQUIRED LOCAL MATCH OF $928,221.00. THIS LOCAL MATCH AS WELL AS THE REMAINING FUNDING NEEDED FOR THE BUSES WILL BE FUNDED THROUGH A LEASE PURCHASE FINANCING AGREEMENT IN THE AMOUNT OF UP TO $10,000,000.00, WHICH WILL BE PAID THROUGH REVENUES GENERATED FROM THE MASS TRANSIT DEPARTMENT. (ALL DISTRICTS) [FINANCIAL SERVICES, CARMEN ARRIETA-CANDELARIA, (915) 541-4293] |
