JANUARY 18, 2014

MINUTES OF THE RANDOLPH CITY COUNCIL

SPECIAL MEETING

JANUARY 18TH, 2014

3:00 P.M.

A special meeting of the Randolph City Council was held at the Randolph City Hall at 3:00 p.m. on January 18th, 2014, and was called to order by the Mayor, Gary Farwell.

The following council persons were present: Mike Berger, Al Marshall, Dustin Moreland, and Claude Perkins. Megan Foster, City Clerk

Absent: Brian Hardy

Visitors: none

The topic for discussion regarding the special meeting was regarding the town possibly getting a new tractor. Councilman Marshall let the council know about a couple of quotes that he had received regarding a new tractor for the town. The council reviewed the two quotes that had been received. The one they decided to go with was a used tractor that was in good shape and has 1,500 hrs. on it. It is a 2009 model with a new loader included with it for $43,500. The town would also need to purchase a new blade, and the one that the council agreed upon was $2,750. The council would also try to sell our tractor that we own now and apply it toward the loan on the tractor. Marshall said that it was a very reasonable price and with some discussion, Marshall motioned that we purchase the tractor for $43,500 and the blade for $2,750 totaling $46,250. Seconded by Moreland. All ayes. The tractor is to be purchased by a lease agreement with Tri-Valley Bank. Annual payments of $5,100 a year are to be made with the interest rate being 2% effective Feb. 1st, 2015. The town will then be able to purchase the tractor for the sum of $4,625.00, plus interest at 2% after Feb. 1st, 2023.

The council also spoke of opening up a savings account just for the tractor and put away a monthly sum of $500 into the account and then making payments from that account when the time comes.

On proper motion, and second, the meeting was adjourned at 3:05 p.m.

Powered by BlogEngine.NET 3.3.5.0 - Eco Theme by n3o Web Designers