Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Equipment Financing topic
No spam. Unsubscribe anytime.
Commissioners authorize finance agreement for $354,500 landfill compactor purchase
Summary
Fayette County authorized a finance and purchase agreement for a 2004 Caterpillar 836G landfill compactor costing $354,500, with financing through Kansas State Bank: 3-year loan at 6.89%, 10% down, amount financed $319,050; total cost with interest $399,440.84.
The Fayette County Board of Commissioners authorized Jason Little, Fayette County Sanitary Engineer, to sign a finance loan purchase agreement May 26 for a 2004 Caterpillar Model 836G landfill compactor purchased through Best Equipment, Inc. The purchase price was $354,500.00; financing terms recorded in the minutes are a three-year loan at 6.89% interest with a 10% down payment. The amount to be financed was listed as $319,050.00, with an annual cost noted at $121,330.28 starting May 2027 and total cost including interest $399,440.84. The motion was moved by Commissioner Tony Anderson and seconded by Commissioner Donald L. Fleak and carried by unanimous roll call.
The minutes record the financing terms and the vendor (Best Equipment, Inc.) but do not show further discussion of alternatives or funding source in the text. The authorization enables the county sanitation department to proceed with the purchase under the specified financing arrangement.
