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County manager moving to terminate Cat Financial lease; Yancey Brothers to buy back paving equipment
Summary
County staff told commissioners they plan to terminate a December 2024 lease-purchase with Cat Financial for paving equipment; Yancey Brothers will buy back the equipment for $458,000, leaving an $88,755 payment obligation under the contract, and staff said terminating is permitted under a budget-appropriation clause.
County management told the board on June 17 that a lease-purchase agreement entered in December 2024 for paving equipment (total contract $546,755) will be terminated under a contract clause allowing termination if funds are not appropriated. County staff said Yancey Brothers has agreed to buy back the equipment for $458,000, leaving a net…
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