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<br />CASSELBERRY CITY COMMISSION <br />Minutes of October 26, 2009 - Regular Meeting <br />Page 5 of 14 <br /> <br />D. Resolution 09-2090 - Lease Purchase Agreement with Sun Trust Equipment Finance <br />& Leasing Corporation for a Bucket Truck and Related Budget Amendment # 10-004 <br /> <br />"A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING THE CITY OF <br />CASSELBERRY TO ENTER INTO EQUIPMENT SCHEDULE NO.7 TO THE MASTER LEASE <br />AGREEMENT DATED OCTOBER 12, 2000, WITH SUNTRUST EQUIPMENT FINANCE & <br />LEASING CORP., AN ESCROW AGREEMENT, AND RELATED INSTRUMENTS, FOR THE <br />LEASE PURCHASE OF ONE (1) BUCKET TRUCK; PROVIDING FOR CONFLICTS, <br />SEVERABILITY, AND EFFECTIVE DATE." <br /> <br />Introduction: Resolution 09-2090 provides for approval of a Lease Purchase Agreement between the City <br />and Sun Trust Bank to provide financing for the purchase of a bucket truck by utilizing the Town of Jupiter, <br />Florida's contract and the Master Lease Agreement currently in effect between the City and SunTrust dated <br />October 12,2000. The bucket truck will cost a total of $64,925.00. The interest rate for the three (3) year <br />Lease Purchase Agreement is 4.0630 percent and finance charges will total $2,602.21 over the life ofthe lease. <br /> <br />Budget Impact: Funds to cover the cost of the lease purchase payment to SunTrust are budgeted and <br />available in the Public Works Department's budget, Account #001-0720-541.44-01 ($22,659.07). The <br />purchase transaction will be budgeted through the Equipment Replacement Fund (302). The budget for lease <br />proceeds will be placed in Account #302-0000-383.01-00 and the budget for the purchase will be in Account <br />#302-0720-541.67-25. <br /> <br />BA #10-004: <br /> <br />Explanation of Request: Amend budget to rollover for the lease purchase of a bucket truck for the Streets & <br />Fleet Division of the Public Works Department. <br /> <br />Account Number Account Description Amount <br />INCREASE: <br />302-0000-383.01-00 Lease Proceeds $64,925 <br />INCREASE: <br />302-0720-541.67-25 Vehicles - Heavy Motorized $64,925 <br /> <br />Recommendation: The City Manager and the Finance Director recommended approval of Resolution 09- <br />2090 and related Budget Amendment # 1 0-004. <br /> <br />E. Resolution 09 2091 East Central Florida Regional Planning Council Scope of <br />Work for the SR 136 Utilization Study <br />REMOVED FROM CONSENT FOR SEPARATE CONSIDERATION <br /> <br />Note: This item was removed from the Consent Agenda and considered separately. <br />F. Appointment of Community Development Director <br />