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41. DECLARATION OF OFFICIAL INTENT FOR OFFICE OF COMMUNICATIONS CAPITAL EQUIPMENT Approve and authorize the Chairman to execute all capital lease documents, including the “Declaration of Official Intent,” required for the financing of the Office of Communications capital equipment in an amount not-to-exceed $50,000 (principal). Authorize appropriate departmental representatives to sign lease documents. All capital lease documents are subject to County Counsel approval. The Department of Finance will facilitate the three-year reimbursement capital lease. The Office of Communications will be expending funds for the capital equipment and will be reimbursed from the proceeds of the capital lease. Estimated total capital lease payments, with an approximate 4.50% (estimated – actual interest rate may be higher) interest rate for the maximum principal amount financed of $50,000 equates to yearly debt service payments of approximately $17,849 (principal and interest); monthly capital lease payments will be approximately $1,488 (principal and interest). The funds are budgeted. (C-18-09-024-2-00)