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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />AGENDA CATEGORY: <br />Consent Agenda <br />MARCH 19, 2018 <br />6:30 P.M. <br />SUBJECT: <br />Finance - Capital Lease for Emergency Medical Services (EMS) <br />Power Stretchers <br />BRIEF SUMMARY: <br />The EMS Department has identified a need for a power stretcher <br />program. Existing stretchers will be replaced with power stretchers using a <br />lease program. This permits stretchers to be replaced consistent with <br />service life. The Department has identified a capital lease that they would <br />like to pursue for 18 stretchers. The proposal includes annual payments of <br />$115,190.14 for six years for a total of $691,140.84. Since the equipment <br />lease is greater than $500,000 and the term is longer than five years, <br />Local Government Commission approval is required. If approved, the first <br />annual payment will be paid from debt service savings on the 2017 <br />Limited Obligation Bonds (LOBS) issue. <br />REQUESTED ACTION: <br />Motion to approve a $691,140.84 EMS power stretcher capital lease <br />subject to 1) Local Government Commission approval and 2) annual <br />appropriation of lease payments. <br />Motion to authorize the Finance Director to prepare the <br />appropriate budget amendment subject to Local Government <br />Commission approval. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />F-5 Page 55 <br />