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CASSELBERRY CITY COMMISSION <br />Minutes of January 11, 2016 — Regular Meeting <br />Page 4 of 20 <br />D. Resolution 16 -2817 — FY2016 Capital Lease Contract with SunTrust Equipment <br />Finance & Leasing Corporation Equipment Schedule 13 and Related Budget <br />Amendment #16 -026 <br />"A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING THE <br />EXECUTION AND DELIVERY OF A MASTER LEASE AGREEMENT NO. 00592 WITH <br />SUNTRUST EQUIPMENT FINANCE & LEASING CORPORATION, EQUIPMENT SCHEDULE <br />NO. 13, AN ESCROW AGREEMENT; PROVIDING FOR CONFLICTS, SEVERABILITY, AND <br />EFFECTIVE DATE." <br />Introduction: Resolution 16 -2817 authorizes the Mayor of the City of Casselberry to execute and deliver any <br />and all papers, instruments, opinions, certificates, affidavits and other documents and to do or cause to be done <br />any and all other acts and things necessary or proper for carrying out this resolution and the Financing <br />Documents with SunTrust Equipment Finance & Leasing Corp for Master Lease Agreement No., 00592, <br />Schedule 13. Consideration of related Budget Amendment # 16 -026 is also requested. <br />Budget Impact: Budget Amendment #16 -026 will increase the following: In General Fund, Contingency <br />Reserve account #001 - 0190 - 519.58 -00 - $1,293; Transfer to Fund 405 account #001- 0190 - 581.91 -45 - <br />$41,286. In the Golf Course Fund, Transfer from Fund 001 account #405- 0000 - 381.10 -00 - $41,286; Rentals <br />& Leases - Capital Leases account #405 - 0410 - 572.44 -01- $41,286; Debt Proceeds account #405- 0000- 383.01- <br />00 $120,950; Heavy Equipment account #405 - 0410 - 572.67 -39 - $120,950. <br />Budget Amendment #16-026 will decrease the following: In General Fund, Rentals & Leases - Capital Leases <br />account #001- 0720 - 541.44 -01- $89; Rentals & Leases - Capital Leases account #001 - 0410- 572.44 -01- $1,204; <br />and Contingency Reserve account #001 - 0190 - 519.58 -00 - $41,286. In the Equipment Replacement Fund, <br />Debt Proceeds account #302 - 0000 - 383 -01.00 - $3,975; Equipment Other account #302- 0720 - 541.67 -35 - <br />$347; Vehicles account #302 - 0410 - 572.67 -22 - $3,628. <br />BA # 16 -026 <br />Explanation of Request: This item seeks City Commission approval for savings on budgeted capital lease <br />purchase and payments, and provides for Capital Lease purchase and related lease payments for the <br />Casselberly Golf Club machinery and equipment. This adjustment aligns with the FY 2016 SunTrust Lease- <br />Schedule 13. <br />Account Number Account Description Amount <br />Increase: <br />001- 0190 - 519.58 -00 <br />Contingency Reserve <br />$ 1,293 <br />405- 0000 - 381.10 -00 <br />Transfer from Fund 001 <br />$ 41,286 <br />405- 0410 - 572.44 -01 <br />Rentals & Leases - Capital Leases <br />$ 41,286 <br />001 - 0190 - 581.91 -45 <br />Transfer to Fund 405 <br />$ 41,286 <br />405- 0000 - 383.01 -00 <br />Debt Proceeds <br />$120,950 <br />405- 0410 - 572.67 -39 <br />Heavy Equipment <br />$120,950 <br />