The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #2020-35
Approving Purchase / Lease of “Bobcat 5600” from Bobcat of Cedar Rapids
WHEREAS, The City of Monticello Park and Recreation Dpt. has proposed the purchase of a new Bobcat 5600 and has previously presented the Council with information about the proposed purchase and has brought a used model to Monticello for the Council to see and inspect, and
WHEREAS, The Bobcat demonstrator was used by the Parks and Public Works Dpt. while it was in town on a number of tasks and they found it to perform very well, and
WHEREAS, The proposed Bobcat 5600 can be purchased over time with a Purchase/Lease Agreement that will allow the cost of the equipment to be spread over four years with a down payment of $10,000 and monthly payments that will total $12,732.12 per year, and
WHEREAS, the Parks Dpt. estimates the life of the Bobcat to be approximately fifteen (15) years, and
WHEREAS, at the end of the lease term the Bobcat will be purchased by the City for $1.00.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve of the purchase of a new Bobcat 5600 as proposed with a down payment of $10,000 and monthly payments over 48 months at $1,061.01 per month, after which the City will purchase the Bobcat for $1.00
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 2nd day of March, 2020.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk