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1 RESOLUTION NO. 11,611
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO
4 ENTER INTO A LEASE TO PURCHASE AGREEMENT FOR
5 GOLF MAINTENANCE EQUIPMENT FROM STILLWATER
6 EQUIPMENT COMPANY; AND FOR OTHER PURPOSES.
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8 WHEREAS, Little Rock and Parks and Recreation Golf Courses have received
9 numerous, ongoing complaints about untimely and poor turf maintenance, and
10 WHEREAS, it was determined that old, and consequently, unreliable equipment
11 performance and a misapplied equipment replacement program were the causes, and
12 WHEREAS, Parks and Finance staff researched true lease, lease to purchase and
13 outright purchase options to address these causes, and
14 WHEREAS, it was determined that lease to purchase was the best option
15 because equipment can be updated more frequently, payments can be reduced and
16 equity can be recouped for new replacements, and
17 WHEREAS, true lease option provides continuing monthly payments and no
18 equity, and
19 WHEREAS, outright purchase option demands more funds than are available in
20 golf enterprises yearly operations budget.
21 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
22 THE CITY OF LITTLE ROCK, ARKANSAS:
23 Section 1. The City Manager is hereby authorized to enter into a lease to
24 purchase agreement for golf maintenance equipment from Stillwater Equipment
25 Company.
26 ADOPTED: October 7, 2003
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Re lutioo
Approval to Lean Col( Course Maintenance Equipment
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ATTEST:
tw Wool, City Clerk
Nan y Woo
APPROVED AS TO LEGAL FORM:
C
Thomas M. Carpenter, C y Attorney
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APPROVED:
Ji I ailey, Mayor
[PACE 2 OF 2]
Resolution
Approval to Lease Golf Course Maintenance Equipment