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RESOLUTION N0. 88-54 <br />INTRODUCED BY: MAYOR CARMEN & THE ENTIRE COUNCIL. <br />A RESOLUTIOPI <br />DECLARING PISRCE MANUFACTURING, INC. TO SE THS <br />IAWEST AND BEST BIDDSR FOR THE PURCHASB OF <br />ONB (1) CUSTOM TRIPLS COMBINATION PUMPING APPARATUS, <br />AUTHORIZING THS MAYOR ANID PRFSIDSNT OF COUNCIL <br />TO ffiC6CUTS A CONTRACT WITH PIERCB MANUFACTURING, INC., <br />RE7SCTING ALL OTHER BIDS AND DECLARING AN ENIHRGENCY <br />BE IT RESOLVED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO, THAT: <br />SECTION 1. In accordance with bids received, pursuant to advertisement <br />required by law, Pierce Manufacturing, Inc. is hereby declared to be the <br />lowest and best bidder for the purchase of one (1) custom triple combination <br />pumping apparatus. <br />SECTION 2. The Mayor and President o£ Council are hereby authorized and <br />directed to execute a contract with Pierce Manufacturing, Inc. in an amount <br />not to exceed Two Hundred Forty Thousand Two Hundred Seventy-Nine Dollars <br />($240,279.00) for the aforesaid equipment, provided that the contract shall <br />be in a£orm approved by the Director of Law, in accordance with the speci- <br />£ications upon which the bid was received. <br />SECTION 3. The authorization and direction to execute such contract with <br />Pierce Manufacturing, Inc. is contingent upon the contract allowing for a <br />prepayment of One Hundred Twenty-Five Thousand Dollars ($125,000.00) toward <br />the purchase price with a three (3) year financing plan for the balance not in <br />excess of 8.2 percent per annum beginning ten (10) days after delivery. The <br />purchase price will be discounted in an amount equal to 9.5 percent per annum <br />of the total prepayment less the cost o£ the chassis, from the date of payment <br />to delivery of the equipment. <br />SECTION 4. The expenditure of funds authorized herein is contingent on <br />suf£icient funds being appropriated and budgeted by Council or are otherwise <br />available by any means whatsoever in any fiscal period that such payments are <br />due under said contract. <br />SECTION 5. The Director of Finance is hereby authorized and directed to <br />pay to Pierce Manufacturing, Inc. the sum of One Hundred Twenty-Five Thousand <br />Dollars ($125,000.00) as a prepayment of the equipment, in accordance with the <br />proposal for such equipment made by Pierce Manufacturing, Inc.