Item Title: | Budget & Fiscal Policy Department - ESD1 Loan Agreement |
Submitted By: | Wallace Hardgrove, Executive Director, Budget and Fiscal Policy Department (915) 546-2262 |
Subject: | Discuss and take appropriate action to ratify the SCBA air pack and cylinder loan agreement for Emergency Service District #1. |
Background: | El Paso County ESD # 1 is seeking Court and Board approval for a loan in the amount of seven hundred thirty-three thousand, ($733,000) at a 1.79% net interest cost. The loan will be to purchase 65 air packs and 205 cylinders along with the appropriate accessories. Three quarters of the current department cylinders will expire and reach their end of life in the next 5 years. The new bottles that will be purchased now have a 30 year life and will also create considerable cost avoidance (less frequent replacement) over the next 3 decades. |
Fiscal Impact: | $774,224.40 over the 5 year life of the loan which will become a portion of the future I/S tax rate. |
Recommendation: | The recommendation is for Commissioners Court to approve the finance plan at 1.79% net interest cost. |
Prior Action: | N/A |
Strategic Plan: | .. |
Strategic Plan Information: | |