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Item Coversheet Page 1 of 1 <br /> � <br /> Management Services <br /> DATE: 7/5/2016 <br /> MEMO: Memorandum 2016-03A <br /> TO: Honorable Mayor Moore Wolfe and City Council <br /> FROM: Timothy Gleason,City Manager <br /> Gerard J.Bauer,Management Services Director <br /> James Edwards,MIS Manager <br /> SUBJECT: Assign Funding Source for Phone System Capital Lease <br /> SUMMARY RECOMMENDATION: Staff recommends that City Council approve the Assignment of De Lage Landen Public <br /> Finance LLC to execute an Equipment Lease Purchase Agreement to expand the City Phone System replacing Resolution No. <br /> R2016-56. <br /> BACKGROUND: Resolution R2016-56 was approved on May 16,2016 authorizing a Capital Lease with Presidio Technology <br /> Capital for the City Wide Voice(Phone System)Upgrade. Presidio Technology Capital has assigned the funding source for this <br /> project to be De Lage Landen Public Finance LLC. Five annual Lease Payments will be made to De Lage Landen Public Finance <br /> LLC in the amount of$78,403.26 per year. <br /> PRIOR COUNCIL ACTION: <br /> Resolution R2016-56 was approved. <br /> POTENTIAL OBJECTIONS: None Anticipated <br /> INPUT FROM OTHER SOURCES: None <br /> STAFF REFERENCE: James Edwards,MIS Manager,MIS Division 450-2236 <br /> BUDGET/TIME IMPLICATIONS: Year one funding for this project will be paid from the MIS Large Capital Fund and is <br /> provided for in the approved 2016 City budget. <br /> ATTACHMENTS: <br /> Description Type <br /> Resolution Rcsulutiun Lcttrr <br /> Equipment Lease Purchase Agreement 13acku}��latcriul <br /> Previouslv A�proved Resoluton R2016-56 13ackuE��I�itcrial <br /> https://decatur.novusagenda.com/AgendaWeb/CoverSheet.aspx?ItemID=725 7/1/2016 <br />