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Rental of Caterpillar 287D Compact Track Loader from NMC <br /> Annual Lease program ended February 15, 2019 <br /> Cost was $6,150 per year (max of 300 hours) <br /> 3 machines cost $18,150 per year <br /> Caterpillar is discontinuing the program <br /> The Public Works Department has 3 compact track loaders. We turned one in and <br /> kept 2. We needed the machines for road department operations, so we rented 2 <br /> of the machines. They were invaluable through the response and recovery efforts <br /> from the March 2019 storm and flooding. <br /> The bids for 2 compact track loaders were opened on April 30th.The bid was <br /> awarded to Murphy Tractor on May 14th. Caterpillar picked up the rental compact <br /> track loaders a week after the bid opening. <br /> NMC is charging $2,950 per month for the 2 machines that were rented. The <br /> rental rate is approximately 78% of the book rental rate and is comparable to <br /> quotes we have for other machines. <br /> Rental of 2 machines for 3 months @ $2,950 per month = $17,700 <br />