FY17 LEASE PURCHASE AGREEMENT.DOCX

ITEM TITLE: LEASE AGREEMENT WITH DELL FOR RECORDER’S OFFICE REFRESH PROGRAM
Action Requested: Approve and authorize the Recorder’s Office to enter into a capital lease with Dell
(Dell Master Lease Agreement C-73-15-022-3-00) for the purchase of Dell computer equipment in an
amount not to exceed $1.6 million. The capital lease will be for four (4) years with an interest rate of
approximately 1.9%. The capital lease is anticipated to be executed in June 2017 upon delivery and
acceptance of the computer equipment. The first lease payment will occur in 30 days (anticipated June
2017) from the executed capital lease agreement. Estimated payments are $394,957.01 annually.
Board Required Information: Approve and authorize an FY 18 annual increase of $394,957 for the annual
lease payments in the Recorder’s Surcharge Fund (F236).
Additional Information: The capital lease will be approved as to Form by the County Attorney, and the
Finance Department will provide assistance as necessary and file Form 8038-G as required.
Expenditure Impact: FY 17 - $394,957 (same for years 2 -4)