Fiscal Note
The total estimated cost of the tire lease is $801,700, paid over a five-year period. In 2005, the estimated cost is $74,265 for six months. In 2006, the estimated cost is $150,570. Funding is included in Metro's 2005 operating budget and future years' costs will be built into applicable Metro operating budgets for those fiscal years. Each year, costs associated with this purpose are reimbursed 80% from Federal Transit Administration 5307 funds.
Title
Authorizing the Mayor and the City Clerk to enter into a five-year tire lease for Metro Transit.
Body
PREAMBLE
WHEREAS, a tire lease RFP was advertised and two responsive and responsible proposals were received in response to the RFP; and
WHEREAS, based upon review of the proposals received, Bridgestone/Firestone, Inc.'s proposal was selected on the basis of established criteria and a proposed contract was prepared; and
NOW, THEREFORE, BE IT RESOLVED that the Mayor and the City Clerk are hereby authorized to enter into a five-year lease with Bridgestone/Firestone, Inc. for mileage tires, at an estimated cost of $801,700, 80% of which is eligible for federal funding.