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Resolution #5-2017 — 2017-02-13

the Village of Red Hook needs to replace a police fleet vehicle and the Village Board has decided to lease a vehicle for a five (5) year term with a concurrent 5 year vehicle warranty from Ford Motor Credit Company
the vehicle selected is a 2016 Ford Police Interceptor Sedan with options and equipment as listed separately and approved by the Sergeant of Police
the gross cost is $42,444.99 with 5 annual payments of $9,497.49
funds to pay the first year payment will be taken from existing police capital account and police donation lines, then from similar lines in the future and/or general funds as budgeted

the Village Board authorizes the Mayor and/or Treasurer to complete the Municipal Finance Application along with any other lease related or warranty related documents and transmit funds to secure possession of the vehicle

This document cites or incorporates the following separate documents:

2017-02-13Police Vehicle – Authorizing Purchase with Insurance Proceeds
Two separate board actions on the same vehicle type but different financing mechanisms (lease vs. insurance-funded purchase) and different underlying transactions.