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CASSELBERRY CITY COMMISSION Minutes of March 10, 2014 —Regular Meeting Page 3 of 11 Note: This item was removed from the Consent Agenda and considered separately. C. Resolution 14-2586 — Changing Accounting Policy Defining a Capital Asset "A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, CHANGING THE DEFINITION OF A CAPITAL ASSET FROM AN EXPENDITURE COSTING $1,000 OR MORE AND HAVING A USEFUL LIFE OF ONE YEAR OR MORE TO AN EXPENDITURE OF $5,000 OR MORE WITH A USEFUL LIFE OF TWO YEARS OR MORE; PROVIDING FOR CONFLICTS, SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE." Introduction: Resolution 14-2586 changes the policy defining a capital asset to an expenditure that costs $5,000 or more and has a useful life of two years or more effective October 1, 2014. Budget Impact: There is no immediate impact to the City's budget. Recommendation: The City Manager and the Finance Director recommended approval of Resolution 14- 2586 to establish and implement a capital asset definition. D. Resolution 14-2587 — Temporary Public Right -of -Way Easement Agreement for Ensign Court, Parcel ID #26-20-30-5AR-OD00-1300 "A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING THE ACCEPTANCE AND EXECUTION OF A TEMPORARY PUBLIC RIGHT-OF-WAY EASEMENT AGREEMENT WITH AMPOL HOLDINGS, INC. FOR THE WESTERN HALF OF ENSIGN COURT, PARCEL ID #26-20-30-5AR-OD00-1300; PROVIDING FOR CONFLICTS, SEVERABILITY, AND AN EFFECTIVE DATE." Introduction: Resolution 14-2587 approves and accepts the Temporary Public Right -of -Way Easement Agreement for the western half of Ensign Court for Parcel ID #26-20-30-5AR-OD00-1300 with A1npol Holdings, Inc., and authorizes the Mayor to execute said document on behalf of the City. Budget Impact: There is no impact to the City Budget. Recommendation: The City Manager and the Community Development Director recommended approval of Resolution 14-2587.