2021-40 - R - VERF purchases FY 2021-2022 08.10.21 TOWN OF PROSPER, TEXAS RESOLUTION NO. 2021-40
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS,AUTHORIZING THE PLACEMENT OF ORDERS FOR THE PURCHASE
OF REPLACEMENT VEHICLES IN FY 2021-2022 TO REALIZE CURRENT
INCENTIVES RELATED TO SAID PURCHASE WITH PAYMENT TO BE MADE
FROM THE TOWN'S VEHICLE EQUIPMENT AND REPLACEMENT FUND
(VERF) IN FY 2021-2022; MAKING FINDINGS; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the Town previously has established a Vehicle Equipment and Replacement
Fund (VERF) to accumulate sufficient resources to replace existing vehicles and equipment
when such vehicles and equipment reached or exceeded their useful life; and
WHEREAS, the VERF was designed for departments to contribute annual payments to
the fund based on the number, type, average life expectancy and the projected replacement
cost of the vehicle/equipment; and
WHEREAS, on or about September 25, 2018, the Town Council authorized the Town
Manager to execute a Master Equity Lease Agreement with Enterprise FM Trust ("Enterprise")
and related documentation to implement a full spectrum fleet management program; and
WHEREAS, Enterprise has notified the Town that it now may place orders on certain
vehicles to capitalize on current dealer or related incentives for vehicles that are scheduled for
replacement in Fiscal Year 2021-2022, with said vehicles more particularly described in Exhibit
A, attached hereto and incorporated by reference; and
WHEREAS, while Enterprise would expeditiously order the foregoing vehicles as an agent
for the Town, the Town would not be billed for such vehicles until after October 1, 2021, and
further, delivery also would occur after such date; and
WHEREAS, the Town wishes to authorize Enterprise to place such vehicle orders with the
full understanding that payment and delivery will occur after October 1, 2021, with payment to
be made from the VERF.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, THAT:
SECTION 1
The findings set forth above are incorporated into the body of this Resolution as if fully set
forth herein.
SECTION 2
The Town Council hereby authorizes Enterprise to place orders for those vehicles
referenced in attached Exhibit A with the understanding that Enterprise will not bill or deliver said
vehicles until after October 1, 2021.
SECTION 3
Any and all resolutions, rules, regulations, policies, or provisions in conflict with the
provisions of this Resolution are hereby repealed and rescinded to the extent of any conflict
herewith.
SECTION 4
This Resolution shall be effective from and after its passage by the Town Council.
DULY PASS. 17 .%.I_ ;, -OVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TE ; • w is ' I' - ' . Y OF AUGUST, 2021.
0 ciimi
* i
\ * Ray Smith Mayor
AT
19„ 4,
Afie
ikd. A '-
�� Ii
obyn = . Ile, Inte m Tow Secretary
APPRO ,ED AS TO FORM AND LEGALITY:
Terrence S. Welch, Town Attorney
I
Resolution No.2021-40, Page 2