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CASSELBERRY CITY COMMISSION <br />Minutes of January 11, 2016 — Regular Meeting <br />Page 5 of 20 <br />Decrease <br />001- 0720 - 541.44 -01 <br />Rentals & Leases - Capital Leases <br />$ <br />89 <br />001 - 0410 - 572.44 -01 <br />Rentals & Leases - Capital Leases <br />$ <br />1,204 <br />302 - 0000 - 383.01 -00 <br />Debt Proceeds <br />$ <br />3,975 <br />302 - 0720 - 541.67 -35 <br />Equipment Other <br />$ <br />347 <br />302 - 0410 - 572.67 -22 <br />Vehicles <br />$ <br />3,628 <br />001- 0190 - 519.58 -00 <br />Contingency Reserve <br />$ 41,286 <br />Recommendation: The City Manager and the Finance Director recommended approval of Resolution 16- <br />2817 and related Budget Amendment #16 -026. <br />E. Resolution 16 -2818 - FY2016 Capital Lease Contract with SunTrust Equipment <br />Finance & Leasing Corporation Equipment Schedule 14 and Related Budget <br />Amendment #16 -027 <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. 14, AN ESCROW AGREEMENT; PROVIDING FOR CONFLICTS, SEVERABILITY, AND <br />EFFECTIVE DATE." <br />Introduction: Resolution 16 -2818 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. 0592, <br />Schedule 14. Consideration of related Budget Amendment # 16 -027 is also requested. <br />Budget Impact: Budget Amendment #16 -027 will increase the following: In General Fund, Contingency <br />Reserve account #001- 0190 - 519.58 -00 - $22,097; Transfer to Fund 405 account #001 - 0190 - 581.91 -45 - <br />$21,096. In the Golf Course Fund, Transfer from Fund 001 account #405- 0000 - 381.10 -00 - $21,096; Rentals <br />& Leases - Capital Leases account #405- 0410 - 572.44 -01 - $21,096; Debt Proceeds account #405- 0000- 383.01- <br />00 - $100,000; Heavy Equipment account #405 - 0410 - 572.67 -39 - $100,000. <br />Budget Amendment #16-027 will decrease the following: In General Fund, Rentals & Leases - Capital Leases <br />account #001- 0720 - 541.44 -01- $22,097 and Contingency Reserve account #001 -0190- 519 -58 -00 - $21,096. <br />In the Equipment Replacement Fund, Debt Proceeds account #302 - 0000 - 383 -01.00 - $11,500; Equipment <br />Other account #302- 0720 - 541.67 -35 - $2,500; and Vehicles account #302- 0720 - 541.67 -22 - $9,000. <br />BA #16-0027 <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 Casselberry <br />Golf Club machinery and equipment. This adjustment aligns with the FY 2016 SunTrust Lease - Schedule 14. <br />