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Commission approves lease-purchase to finance courthouse HVAC at 5.11%
Summary
The Elk County Commission approved resolution 25-05 to enter a lease-purchase agreement with Farmers Bank & Trust (Great Bend) to finance a courthouse HVAC upgrade at a quoted rate of 5.11% over 20 years; closing is scheduled for May 8, 2025.
The Elk County Board of Commissioners on April 28 approved resolution 25-05 to enter a lease-purchase transaction with Farmers Bank & Trust of Great Bend to finance the courthouse HVAC replacement. Mitch Walter of DA Davidson told the board the best interest rate found was 5.11% with a 20-year term; closing was scheduled for May 8, 2025.
Commissioner Jake Liebau moved and Commissioner Perry Russell seconded approval of the resolution and the related equipment lease purchase agreement, which includes a transcript of proceedings, counsel opinions and an escrow agreement, subject to KCAMP approval; the motion carried 3-0. The documents approved by the board vest authority to complete the lease closing and describe the parties and required certifications.
