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Logan County approves lease-purchase agreements with Cat Financial for five graders
Summary
The board unanimously approved lease-purchase agreements with Cat Financial for five 140-15AWD Cat graders (listed by district) at $323,377.00 each, with a monthly payment listed at $3,250.00 per unit. The motion was made by Commissioner Mark Sharpton and seconded by Commissioner Floyd Coffman.
Logan County commissioners on July 6 approved lease-purchase agreements with Cat Financial to acquire five 140-15AWD Cat graders, with each unit recorded at a purchase price of $323,377.00 and a listed monthly payment of $3,250.00. The items were recorded by district (three listed for District 1 and two for District 3) with serial numbers shown in the minutes; Commissioner Mark Sharpton moved approval and Commissioner Floyd Coffman seconded. The motion passed unanimously (Piearcy-AYE, Sharpton-AYE, Coffman-AYE).
The meeting minutes list each grader with the same model and per-unit price; they also include serial numbers as recorded for each line item. The record does not include financing term length, interest rate, or the total long-term payment schedule; those details are not specified in the minutes and would be available in the lease documents.
