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CASSELBGRRY CITY COMMISSION <br />Minutes of January 11, 2016 — Regular Meeting <br />Page 6 of 20 <br />Account Number Account Description Amount <br />Increase: <br />001- 0190 - 519.58 -00 <br />Contingency Reserve <br />$ 22,097 <br />405- 0000 - 381.10 -00 <br />Transfer from Fund 001 <br />$ 21,096 <br />405- 0410 - 572.44 -01 <br />Rentals & Leases - Capital Leases <br />$ 21,096 <br />001- 0190 - 581.91 -45 <br />Transfer to Fund 405 <br />$ 21,096 <br />405- 0000 - 383.01 -00 <br />Debt Proceeds <br />$100,000 <br />405- 0410 - 572.67 -39 <br />Heavy Equipment <br />$100,000 <br />Decrease <br />001- 0720 - 541.44 -01 <br />Rentals & Leases - Capital Leases <br />$ 22,097 <br />302 - 0000 - 383 -01 -00 <br />Debt Proceeds <br />$ 11,500 <br />302 - 0720 - 541.67 -35 <br />Equipment Other <br />$ 2,500 <br />302 - 0720 - 541.67 -22 <br />Vehicles <br />$ 9,000 <br />001 - 0190 - 519.58 -00 <br />Contingency Resetve <br />$ 21,096 <br />Recommendation: The City Manager and the Finance Director recommended approval of Resolution 16- <br />2818 and related Budget Amendment #16 -027. <br />F. Resolution 16 -2819 — FY2016 Capital Lease Contract with SunTrust Equipment <br />Finance & leasing Corporation Equipment Schedule 15 and Related Budget <br />Amendment #16 -028 <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. 15, AN ESCROW AGREEME NT; PROVIDING FOR CONFLICTS, SEVERABILITY, AND <br />EFFECTIVE DATE." <br />Introduction: Resolution 16 -2819 authorizes the Mayor of the City of Casselberry to execute and deliver any <br />and all papers, instruments, opOinions, certificates, affidavits and other documents and to do or cause to be <br />done 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 15. Consideration of related Budget Amendment 416-028 is also requested. <br />Budget Impact: Approval of Budget amendment #16-028 will decrease the following: In Stormwater Fund: <br />Other Non - operating Sources account # 110- 0000 -3 89.90 -00 - $2,967 and Rentals & Leases — Capital Leases <br />account #110-0740-539.44-01 - $2,967; in the Equipment Replacement Fund: Debt Proceeds account #302- <br />0000- 383.01 -00 - $30,000 and Heavy Equipment account #302 - 0740 - 539.67 -39 - $30,000. <br />BA # 16 -0027 <br />Explanation of Request: This item seeks City Commission approval for savings on budgeted Capital Lease <br />payments. Costs for budgeted capital were less than anticipated and resulted in a savings to the City. The <br />