HomeMy Public PortalAboutAB 05-13 Rotary Lawn Mower Lease PurchaseMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, ID 83638
Number AB 05-13
Meeting Date January 13, 2005
AGENDA ITEM INFORMATION
SUBJECT:
Resolution 05-03 /
Rotary Lawn Mower Lease Purchase Agreement
Approvals: Department/
Committee/Individual
Initials
Remarks
(Originator/Support)
Mayor / Council
City Manager
Community
Development
Treasurer
Clerk
Police Department
Public Works
Golf Operations
Parks & Recreation
COST IMPACT: $29,222.40 (over
five years)
Airport
FUNDING SOURCE: Parks Department Budget
Library
City Attorney
TIMELINE: Agreement to be effective 1/17/2005
Grant Coordinator
Other:
SUMMARY STATEMENT:
The Parks Department needs a rotary lawnmower for mowing the parks, cleaning bike paths, and removing snow during the winter months. The current arrangement
where the mower is shared between the Parks Department and Golf Department presents difficulties during the summer months when the department needs to mow parks, but the Golf Course
needs the equipment to mow fairways. Difficulties are also encountered in the winter months when both departments need to remove snow at the locations which they are responsible for.
Three estimates have been received, with Campbell Tractor submitting the lowest estimate in the amount of $23,739.13 (See Attached). The Parks Department has budgeted $5832 that
can be spent on lease payments this fiscal year (this includes both principal and interest). The proposed Resolution will authorize the City to enter into a Lease Purchase Agreement
with John Deere Credit Inc. for five years at an interest rate of 8.5%. Payments in the amount of $487.04 will be due to the Lessor on a monthly basis. The total amount of interest
incurred over the five year period would amount to $5,483.27.
Attached are copies of the proposed Resolution and lease purchase agreement with John Deere Credit Inc.
RECOMMENDED
ACTION:
Adopt Resolution 05-03 and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
Meeting Date
ACTION
1/13/05
Adopted Resolution 05-03 and
authorize the Mayor to sign all necessary documents