Resolution No.
PARKING AUTHORITY OF THE CITY OF STOCKTON
RESOLUTION AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE AN AGREEMENT WITH ELEVATOR TECHNOLOGY, INC., TO REPAIR AND UPGRADE THE ELEVATORS WITHIN THE FIVE PARKING FACILITIES IN DOWNTOWN STOCKTON The Stockton Public Financing Authority previously approved Resolution No. PFA 2019-12-17-1501 which authorized the issuance and sale of Parking Authority Revenue Bonds; and The new bonds generated savings of approximately $3 million, which was allocated to the Parking Authority to fund capital projects including the upgrade and repair of the elevators within the five (5) downtown parking garages; and The Parking Authority issued a request for bids on February 24, 2022, with the intent to identify a qualified contractor with the experience to provide the necessary repairs and upgrades; and Elevator Technology, Inc., submitted the only bid and met requirements to repair and upgrade the elevators in the downtown parking garages; and With the savings generated by the issuance of the Parking Authority Revenue Bonds, as previously described, the Parking Authority wishes to contract with Elevator Technology, Inc., to repair and upgrade the elevators in the downtown parking garages; now, therefore, BE IT RESOLVED BY THE BOARD OF THE PARKING AUTHORITY OF THE CITY OF STOCKTON, AS FOLLOWS:
Authorizing the Executive Director, or designee, to execute an agreement with Elevator Technology, Inc. (ETI) in the amount of $957,370, to upgrade and repair the elevators within the five (5) parking facilities located in downtown Stockton, attached as Exhibit 1 incorporated by this reference. //
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Authorizing the Executive Director, or designee, to take whatever actions are necessary and appropriate to carry out the purpose and intent of this Resolution.
PASSED, APPROVED, and ADOPTED September 13, 2022 .
KEVIN J. LINCOLN II
Chairperson of the
Parking Authority Board
ATTEST:
ELIZA R. GARZA, CMC
Secretary of the
Parking Authority of the Board