Title
Resolution - Approval of Advancement in Budget to Purchase 2018 Fleet - P Lochte
Other Info
Submitted By: Paul Lochte
Department: Engineering
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
Pedernales Electric Cooperative, Inc. has a proposed 2018 Capital Improvement Project (CIP) budget for Fleet Acquisitions of $7,145,000 based on established replacement criteria. To ensure all vehicles are received in 2018, it is necessary to place advanced orders due to extremely long lead times, of over a year in some cases. In addition to the 2018 CIP Fleet request, there is a potential $3.1M carry-over of 2017 purchases.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE, that the Cooperative approve the advance purchase of $4,520,800 of the 2018 Fleet Acquisitions based on established replacement criteria.
BE IT FURTHER RESOLVED, that the Chief Financial Officer, or designee, is authorized to take all such actions as needed to implement this resolution.