HomeMy WebLinkAbout1978-28 Approving the Town's Leasing of Certain EquipmentRESOLUTION NO.
Series of 1978
A RESOLUTION OF THE TOWN COUNCIL APPROVING THE TOWN'S
LEASING OF CERTAIN EQUIPMENT; AUTHORIZING THE TOWN
MANAGER TO EXECUTE ALL LEASES, BILLS OF SALE OR OTHER
DOCUMENTS TO FINALIZE SAID TRANSACTION; DIRECTING
THE TOWN CLERK TO ATTEST TO THE TOWN MANAGER'S SIG-
NATURE AND TO AFFIX THE SEAL OF THE TOWN TO ALL NEC-
ESSARY DOCUMENTS
WHEREAS, the Town has agreed to a refinancing and leasing plan
with Kirchman and Moore Leasing Co. relating to a 1974 JD 644-B wheel loader,
1975 Dodge pump truck, 1975 Unimog with snowblower and backhoe, 1975 HC 65
wheel loader, 1978 Unimog with plow, 1978 Elgin Whirlwind street sweeper,
and 1978 JD 416-A backhoe wheel loader; and
WHEREAS, the Town Council is of the opinion that the terms of
said refinancing and lease should be approved; and
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF VAIL, COLORADO, THAT:
1) The refinancing and Lease arrangement summarized on the
attached memorandum marked as exhibit "A" between the Town of Vail and
Kirchman and Moore Leasing Co. for the above--identified equipment is hereby
approved.
2) The Town Manager is hereby authorized to execute far and
on behalf of the Town all documents necessary to complete the within ap-
proved arrangement, including leases, bills of sale and closing documents.
3) The Town Clerk is directed to attest to the signature of
the Town Manager and to affix the seal of the Town to said documents.
INTRODUCED, READ, APPROVED, AND ADOPTED, this 21st day of
November, 1978.
r
Ma r
ATTEST:
v4I'own Clerk
M El ~A N Q U 1~
REs LEASE DF EQUIPMENT
THE FOLLOWING EQUIPMENT IS TO BE LEASED FROM K AND M LEASING COMPANY AS LOW
BIDDERS FOR THE TERM AND ~uaAL COST,INDTACTED BELOWs
1.) 1974 JD 644-B Wt-EEL LOADER. 1975 DODGE DUMP TFtUGK, 1975 UNIMOG
W/SNDWBLOWER AND BACKHOE, 1975 HC 65 WHEEL LOADER; NET AMOUNT
TD BE FINANCED YS 552,329.
PAYMEM'S QUAR ~ trsi_Y IN ARREARS DF
ONE INSTALLMENT PAYMENT OF 5 6,798.94
SEVEN INSTALLMENT PAYM`=PITS 7,581.89
ONE INSTALLMENT PAYMENT 7,681.57
TOTAL PAYMENTS 68.253.84
TOTAL INitr<EST 5.924.84
NET INTEREST RATE 50X
2.) 1978 UNIMOG >rlITH PLOW, 1978 ELGIN WHIRLWIND Sirc~~i SWEEPER. 1978
JD 410-A BACKFiOE WHEEL LOADERf NET AMOU~'T TO BE FINANCED 510$,002.
PAYMENTS QUAR I thcLY iN ARREARS .OF
FRYMEI^IT £RSE fIt4T CREDITED AMT CkEI1ITED TO
f•illt•1I:EF' FFIYf•tEtiT TO IMTEkEST f7RIGIf•{F!L LEFISE ~'RLUE
ORI~~IIIHL TEF'I4
i __.~__-5,'K,~ 73.32 5. ~6g4.9i ~ 54r 48f1.41 ~ 103- 5I ~. 55
UF'T1Qt~{ Td f5llit'CHri~:E
1lFILUE: 5 1 ti7:476.5f:
F I f2CT kEP3EGIRL TERM
2 Sb- 543. Ur•51- 9b9. C7 54- 073.79 598- 939. s30
3 6:549. ~Ga 51 s $52.25 11~4r 66t~. $1 5941 c78.95~
4 Sb- 543. Ur.gl - 793.58 4 r 749.48 589, 589. vl
S g:6- 5+43. Ur•1:703.83 S4- $39.83 584r 689. b8
F•T I Dri Tf]F~.Il~[HFi E
VALUE:9~87- 3i~4.7!~
SEC:O-1i~ ft:EhEhfHL TEF'M
6 1:7:5•i i. Uri Sir6i1. i6 i~4-9?1.9U 9r7.ci7.78
7 1~6-'S4 3. U•_+51 r 517.33 g5- U25.73 x74 r 7:32. 0`
6 Sb~Sa .Ua 3~1+421.72 S•Srlcl.?4 Sb5-616.71
9 f•-.~, SA ~. [~o 1 - 324. t9 SS- 218.77 564 r 391.9a
OF'T 10111 TD FUFI".Hr~: E
VALUE:5`-f~;-S. t~~~
THIF~I1 f~ENEIdiiL TERM
0 54 i. E~r~225.01 lv5r :~ 1$. Q5 ~ffi59- 073.89
i l ti! 5,~ ?. ~1r.1 f 1 ~ . 8 i St 419. ice.:HJ•~. k•h
1 ^I,a+°.~~~ . ~:~^51- i~-•i~.74 g5+S:,~'. 32 548: 1 :~.3~3
13 i•r: + T~4 3. iti!~915. t•8 gS- 627. s8 542- SG~i. y6
pF'T I Llt1 TEI F'I sF•CHH i E
v~sLCl~ :t.a ~ 1. ~ . ~~
J
FBUi~TH i~EtiEWRL TERM '
a4 g6r543.06
15 9br543.Gb
E S:b r 543. Ob
17 y6x 54;i. 0ea
OPT I Oli TU PU~CHFiSE
VRLUE~ '. 519.0~'~3:'~7
FIFTH RENEWr~L TEkM
18 Sbs543.06
19 S:bx 543. Ob
2G $bx541.97
I}PT I ON Ta .PUkCHFiSE
VALUE: S. GO
1
G$. f 2 g5r 734.44
5 E99.5^a $5r ~:43.5a
5 53$. 3~. 5~5 r 5+54.7 G
475. G3 56x0%7.98
5 359.84 96.183.42
5 242. G1 9bx 301. G5
5 122.13 $~bx 419.84
536.770.52
530x926.59
5:24 ~ 572. ~9
18r944.31
12r 720.89
9b:419.84
t1G
TOTAL PAYMENTS
TOTAL INTEREST
7' INTEREST RATE OF
5129,490.3D
21,488.37
7.6~-'~
II
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