HomeMy Public PortalAbout100_010_Beach Rake and Tractor MAYOR CITY MANAGER
Jason Buelterman Diane Schleicher
CITY COUNCIL CLERK OF COUNCIL
Wanda Doyle,Mayor Pro Tern Janet LeViner
Barry Brown
Jan Fox CITY ATTORNEY
Bill Garbett Edward M.Hughes
Tom Groover I ou t '
Paul Wolff
CITY OF TYBEE ISLAND
City Council Agenda Item Request
Agenda Item Requests must be submitted to the Clerk of Council by 5:00PM the Thursday prior to the
scheduled Council meeting. If this form is received after the deadline, the item will be listed on the next
scheduled agenda.
Council Meeting Date for Request:
July 11, 2013
Item: To provide the City Council with funding options to acquire a beach rake and tractor for $94,000
Explanation: At the City Councils request, to determine a funding source to acquire a beach rake and tractor
for total amount of$94,000. The information obtained from the Georgia Municipal Association funding
opportunities and the related interest rates are as follows:
Borrowed Amount Interest Rate Term Month Payment Annual Cost Total Interest
$75,000 to $200,000 2.82% 3yrs $2,726.18 $32,714.16 $4,142.60
$75,000 to $200,000 2.97% 4yrs $2,079.38 $24,952.56 $5,810.27
$75,000 to $200,000 3.14% 5yrs $1,694.56 $20,334.72 $7,493.86
Budget Line Item Number(if applicable): See Attachment A's Supporting Documents
Paper Work: _ Attached* Already Distributed
To Be Handed Out at Council Meeting (by Requester)
Audio/Video Presentation**
** Audio/video presentation must be submitted to the IT department at City Hall
By 5:00PM the Thursday prior to the next scheduled City Council Meeting
NOTE: Request will be postponed if necessary information is not provided.
Submitted by:
Phone/Email: (912)472-5021/ahudson@cityof tybee.org
Comments:
Date given to Clerk of Council
* *
P.O.Box 2749—403 Butler Avenue,Tybee Island, Georgia 31328-2749 *Certified*
(866) 786-4573—FAX(866) 786-5737 City of
www.cityoftybee.org il lit
B