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Commissioner Russell approves $420,000 John Deere 672G roadgrader purchase for Precinct 4, plans $190,000 financing
Summary
Commissioner Casey Russell told the court he is buying a John Deere 672G roadgrader for $420,000, applying $230,000 in trade-ins and proposing $190,000 financed by First National Bank. The court approved the purchase and financing by majority vote.
Commissioner Casey Russell told the Parmer County Commissioners on May 13 that he is purchasing a John Deere 672G roadgrader for use in Precinct 4 at a total cost of $420,000.
Russell said he is applying $230,000 in trade-in value from two older pieces of equipment and plans to finance the remaining $190,000 from First National Bank. He provided the court a lease/finance package for the purchase. Commissioner Kenny White moved to approve the purchase and proposed financing; Commissioner Charles Wilkins seconded and the motion passed by majority vote.
The minutes list the total cost, trade-in value and proposed financing amount but do not record the finance term, interest rate or repayment schedule. The attached lease is referenced in the minutes for additional details.
