►
From YouTube: San Bruno City Council Meeting 08-25-09 10e. Lease Agreement for Data and Voice Equipment
Description
San Bruno City Council Meeting 08-25-09 10e. Lease Agreement for Data and Voice Equipment
B
Mr.
mayor
and
members
of
City
Council,
also
at
the
July
28
meeting
that
the
City
Council
approved,
cable
television's,
acquisition,
servers,
routers
and
switches
and
related
equipment
that
would
allow
for
moving
forward
in
implementing
the
commercial
data
and
voice
project,
as
approved
the
capital
improvement
budget
did
not
have
funding
for
this
project,
and
the
budget
was
amended
at
that
July
28th
meeting
and
at
the
same
time,
since
the
funds
currently
did
not
exist
in
the
cable
fund.
B
For
this
project
to
go
forward,
the
council
indicated
an
approval
of
an
approach
using
outside
financing
that
would
cover
the
total
cost
of
the
project
of
about
1.6
million
1.6
million
dollars.
I
won't
go
into
as
a
report.
Does
the
details
of
why
moving
forward
with
the
project
I
think
that
was
described
in
quite
a
bit
of
detail.
The
last
at
the
last
meeting
would
indicate
that
we
do
have
financing
available
through
key
government
finance.
Key
key
government
finance
is
a
subsidiary
of
key
bank.
B
Key
bank
is
one
of
actually
I
not
heard
much
about
it.
3
viously,
but
it
is
one
of
the
largest
banks,
commercial
banks
in
the
in
the
country,
and
this
is
their
public
financing
arm
that
is
offering,
and
this
key
key
public
finance
key
government
finance
was
actually
directed
to
us
by
Cisco,
who
is
the
main
provider
of
the
equipment
that
we
are
purchasing.
B
B
Five
thousand
dollars
of
the
financing
principal
in
in
this
in
this
project
just
didn't
indicate
enthusiasm
in
the
interest
that
cisco
has
in
having
this
this
move
forward.
So
the
the
annual
payments
for
principal
and
interest
begins
at
three
hundred
thousand
dollars
a
year
that
increases
in
year
three
to
four
hundred
and
forty
five
thousand
dollars,
and
again
that's
for
a
total
of
five
years.
B
Sixty
payments,
the
pro
forma
that
the
council
looked
at
from
the
department
at
the
last
meeting,
indicated
that
the
year
to
that
the
revenue
stream
from
this
new
new
project
would
in
fact
cover
the
interest
in
principal
payment.
So
the
revenue
anticipated
from
the
from
the
commercial
project
will
cover
the
debt
service
that
will
be
in
excess
of
the
debt
service
beginning
year
three
and
move
moving
forward.
So
this
is
a
reasonable
way
to
finance
the
project
that
the
council
indicated.