Title
Consider/Discuss/Act on a Resolution Authorizing the Interim City Manager to Execute a Lease/Purchase Agreement on Six Lucas CPR Devices, Between the City of McKinney and Physio-Control
Summary
MEETING DATE: December 1, 2014
DEPARTMENT: Fire Department
CONTACT: Fire Chief Danny Kistner
EMS Chief Jason Hockett
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Resolution
ITEM SUMMARY:
· This Resolution authorizes a Lease/Purchase agreement for six Lucas chest compression devices.
· The Lease/Purchase agreement will allow the Fire Department to obtain all six devices at one time.
· The Fire Department wishes to equip all med units with Lucas devices due to the proven increase in successful resuscitations.
· Propose a three year lease/purchase agreement with an early two year payout.
· The total overall cost for the six Lucas chest compression devices is $87,560.20.
BACKGROUND INFORMATION:
· Council approved funds in FY14-15 budget in the amount of $52,530 for the purchase of three Lucas chest compression devices, with the intent of approving funds for an additional three devices in FY 15-16 budget.
· Recent quotes for the lease/purchase option show a significant decrease in cost from original supplemental request.
FINANCIAL SUMMARY:
· The total purchase price for six Lucas devices is $87,209.20.
· The 36 month lease/purchase agreement has 0% interest and a $1.00 end purchase.
· The first year payment of $52,530.00 was approved FY 14-15 budget.
· The second year has an early payout of $34,679.20 + $1.00 purchase.
· There is an additional $350.00 origination fee.
· The remaining lease/purchase amount for FY 15-16 budget is $35,030.20.
BOARD OR COMMISSION RECOMMENDATION: N/A