Laserfiche WebLink
City of <br /> AGENDA ITEM #7.1 <br /> Pequot it Lakes <br /> REPORT TO <br /> CITY COUNCIL <br /> Report Prepared by: Nancy Malecha <br /> Date: January 3, 2017 <br /> Subject,: Consider Bids for Air Packs & Debt Financing <br /> Report: At the November 1, 2016 City Council <br /> Meeting, the Council authorized Staff to move forward <br /> with the competitive bid process with HGACBuy for <br /> the purchase of air packs for the Fire Department to <br /> include 20 harnesses, 40 cylinders, and 30 face pieces. <br /> The Fire Department is requesting Council <br /> consideration of the attached HGACBuy bid in the <br /> amount of$134,164.46 from Emergency Response <br /> Solutions for the air packs purchase. <br /> I recently contacted several financial institutions as to <br /> debt financing options for the air packs purchase. The <br /> following information illustrates the quotes received. <br /> • American National Bank — Equipment Certificate <br /> or Municipal Lease with a five year term and an <br /> interest rate of 3.39%. <br />