Title
Dept/ Agency: Administration/Division of Central Purchasing
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Consent to Assignment of a Contract
Purpose: To assign right of payment under the vendor contract to Municipal Asset Management, Inc.
Entity Name: Municipal Asset Management, Inc.
Entity Address: 25288 Foothills Drive North, Golden, Colorado 80401
Contract Amount: $3,613,215.08
Funding Source: 2019 Budget/Department of Public Works, Division of Sanitation/NW011-060-0605-71940-B2019
Contract Period: December 3, 2019 through December 2, 2023
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Additional Information:
Original Resolution/Contract 7R1-a(S) adopted on May 21, 2019, to Appolonia Incorporated d/b/a Air Brake and Equipment, seeks to assign its right to payment under the Vendor Contract to Municipal Asset Management, Inc.
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WHEREAS, the City of Newark, in the County of Essex, State of New Jersey (the "City"), is a political subdivision duly organized under the constitution and laws of the State of New Jersey; and
WHEREAS, it is hereby determined that a true and real need exists for the acquisition of refuse trucks for use by the City's Department of Public Works (the "Equipment"); and
WHEREAS, on May 21, 2019, the Municipal Council adopted Resolution 7R1-A(S) awarding a bid to Appolonia, Incorporated d/b/a Air Brake and Equipment, the only responsive and responsible bidder, for an amount not to exceed Four Million Dollars and Zero Cents ($4,000,000.00) for five (5) years, and approving a contract between the City and Appolonia, Incorporated d/b/a Air Brake and Equipment, as Vendor (the "Vendor Contract"); and
WHEREAS, Appolonia Incorporated d/b/a Air Brake and Equipment, seeks to assign its right to pay...
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