HomeMy WebLinkAbout1990-07-23 90-273 ORDERDate 7- 23 90 V Item No. 90 23
Item/Subject: Authorizing Execution of Agreement with Caterpillar
Financial Services Corporation
Responsible Department: Legal
Commentary:
The lease/purchase of the new D6B Caterpillar tractor has
been approved by the Finance Committee. This matter requires
approval by the full Council because the lease term potentially
may be in excess of 3 years.
De r� i
M(,anager's Commenn:�, � K"k"^
'tyt ✓O Cr{� wsAA UMZU lasia 6Q 4i
Qe,,d.
ilwrt vd It" es.,& ar
ciy MvnaKdd e,
Associated Information:
Budget Approval:
tt Deroor AIR
Legal Approval:
Introduced For Cty-3er„ 1
Fissage page _of_
rst Reading
❑ Referral
90-273
Aeripted to Councilor Soaneud July 23, 1990
CITY OF BANGOR
(TITLE.) VtrUr ?utho i 9 Exec ti n of _Aare t with _
Caterpillar Financial Services Corporation
By tM CRY Cwroi! of W aty ofBsspor:
ORDERED,
TnT the City Manager is hereby authorized and directed,
on behalf of the City of Bangor, to execute an agreement with
Caterpillar Financial Services Corporation, a copy of which
is on file in the office of the City Clerk, providing for
the rental of a new Caterpillar D6H Track -Type Tractor for
a period of 60 consecutive months, with an option to purchase
said tractor at any during the same period, in accordance
with a schedule attached thereto.
90-273
�.
IN CITY COUNCIL 0 R 0 E R
July23, 1990
Passed
Title
CIT4 CL
Authorizing Execution of Agreement
............. 1ar F ......I Ser ices .
moth ratioillai Pinancial Services
Corpo
ation
.�................................
Cowcilman
90-3]3
®boa l . GTFNAI..,I yry e . gOREP.. IF
Y,cr Gn9.r gpminfa'uYn
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Role
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m' No
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I.
'n•�,m."Y°�'m��.'.`:AM My MAY., -M Hall:.°;ma::of" a AWAN aa':: �
LESSEEHUT
AUDI By no
ES°OT IIMAKE,MyA MMTA xNO WM.A.r.,E AN MURPHY RUDER AM l.n;s MUNIT MY ANY RESPEcr �^�
FOR A
Poll 4. �ESVOI "M"ECTIOM ARM THE PIUMPOSERS AND PAN OF Lynal OR ARM MEMICTI WE A�PMATE ��E�MON UP 112
."O. m. p�IT a. rannable me eyearmons pm .I.the ^.a..."..im,a�w,m. M,111I"ywnRf antal my MR. ow
IMF MR AT IN �' OF
_My ROOM '.om u'N".'°o��"..mow"o�mR'"��: ,d.°;s'.':'wan
MY 10 1 1 my UK EARN main�e III DEM wMA AMWAY ME, OF
of e� end IF .11 UPS FAR My Me FOR me Poll IM USA In p;Moneyea ornr Of Ad nowl Man NMI I ... An. .1
few asimal 95 AN FARM 0 my wool. End Law" And �OnOMMIulde�" LAW �"D "if nal
TAX now. I In "'y www P"a`"':.ai" olllfmu..`.. oea.'.JO "°.,. i.... ."' �"'"m'�...Fwaw
IF of A mu SEE ARMEPSE SES MR ADE TONAL TEPYS PN0 CON01TONS OF"RESONANT
IESSFE ALNNO WLEOGES NA%NO NECEryEO A FULLY COI W LEIEO ANO EXE WTEO DOFF OF THIS AOHFENENT
is
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• P6 1 90-273
E X H I B I T 2
Concluding Payment Schedule to
Governmental Agreement
Dated 19
Between Caterp ar Eanane al Services Corporation
and Cit, of Bmaor
CONCLUDING PAYMENT SCHEDULE
Description of Unit: One Vew Caterpillar D6H Track -Noe Tracor
t
BEGINNING
PAYMENT
CONCLUDING
I PER
PMT-
BALANCE
AMOUNT
INTEREST
PAYMENT
(+)
-
-
0
1
$62,340.00
$1,253.00
$O.DO
$61,087.00
1
2
$61,087.00
$1,253.00
$402.53
$60,236.53
2
3
$60,236.53
$1,253.00
$396.93
$59,380.46
3
4
$59,380.46
$1,253.00
$391.29
$580518.75
4
5
$58,518.75
$1,253.00
$385.61
$57,651.36
5
6
$57,651.36
$1,253.00
$379.89
$56,778.26
6
7
$56,778.26
$1,253.00
$374.14
$55,899.40
7
8
$55,899.40
$1,253.00
$368.35
$55,014.75
8
9
$55,014.75
$1,253.00
$362.52
$54,124.27
9
SO
$54,124.27
$1,253.00
$356.65
$53,227.92
10
11
$53,227.92
$1,253.00
$350.75
$52,325.67
11
12
$52,325.67
$1,253.00
$344.80
$51,417.47
12
13
$51,417.47
$1,253.00
$338.82
$50,503.29
13
14
$50,503.29
$1,253.00
$332.79
$49,583.08
14
15
$49,583.08
$1,253.00
$326.73
$48,656.81
15
16
$48,656.81
$1,253.00
$320.63
$47,724.44
36
17
$47,724.44
$1,253.00
$314.48
$46,785.92
17
18
$46,785.92
$1,253.00
$308.30
$45,841.21
- 18
19
$45,841.21
$1,253.00
$302.07
$44,890.29
19
20
$44,890.29
$1,253.00
$295.81
$43,933.09
20
21$43,933.09
$1,253.00
$289.50
$ 2 969.59
s 21
22
$42,969.59
$1,253.00
$283.15
$41,999.74
- 22
23
$41,999.74
$1,253.00
$276.76
$41,023.50
23
24
$41,023.50
$1,253.00
$270.33
$40,040.82
} 24
25
$40,040.82
$1,253.00
$263.85
$39,051.67
25
26
$39,051.67
$1,253.00
$257.33
$38,056.00
26
27
$38,056.00
$1,253.00
$250.7
$37,053.77
1 27
28
$37,053.77
$1,253.00
$244.317
$3,044.94
28
29
$3,044.94
$1,253.00
$237.52
$355,029.46
29
III
30
$355,029.46
$1,253.00
$230.83
$34,007.29
30
31
$34,007.29
$1,253.00
$224.09
$32,978.38
31
32
$32,978.38
$1,253.00
$217.31
$31,942.69
f 32
33
$31,942.69
$1,253.00
$210.49
$30,900.18
33
34
930,900.18
$1,253.00
$203.62
$29,850.79
F 34
35
$29,850.79
$1,253.00
$196.70
$28,794.50
i- 35
36
$28,794.50
$1,253.00
$189.74
$27,731.24
36'-
38
$26,731.97"
$1,253.00"'
$182:73
$26,880:9660797
37
38
$26,660.97.
$1,253.00
$175.69
$25,583".66
PS 2 90-273
38
39
$25,583.66
$1,253.00
$168.58
$24,499.24
39
4D
$24,499.24
$1,253.00
$161.44
$23,407.68
40
41
$23,407.68
$1,253.00
$154.25
$22,308.93
41
42
$22,308.93
$1,253.00
$147.01
$21,202.93
42
43
$21,202.93
$1,253.00
$139.72
$20,089.65
43
44
$20,089.65
$1,253.00
$132.38
$18,969.03
44
45
$18,969.03
$1,253.00
$125.00
$17,841.03
45
46
$17,841.03
$1,253.00
$117.56
$16,705.59
46
47
$16,705.59
$1,253.00
$110.08
$15,562.67
47
48
$15,562.67
$1,253.00
$102.55
$14,412.22
48
49
$14,412.22
$1,253.00
$94.97
$13,254.19
49
50
$13,254.19
$1,253.00
$87.34
- $12,088.53
50
51
$12,088.53
$1,253.00
$79.66
$10,915.19
51
52
$10,915.19
$1,253.00
$71.93
$9,734.11
52
53
$9,734.11
$1,253.00
$64.14
$8,545.26
53
54
$8,545.26
$1,253.00
$56.31
$7,348.57
54
55
$7,348.57
$1,253.00
$48.42
$6,143.99
55
56
$6,143.99
$1,253.00
$40.49
$4,931.48
56
57
$4,931.48
$1,253.00
$32.50
- $3,710.97
57
58
$3,710.97
$1,253.00
$24.45
$2,482.43
58
59
$2,482.43
$1,253.00
$16.36
$1,245.78
59
60
$1,245.78
$1,253.00
$8.21
- $0.99
END OF
LEASE
$0.99
$1.00
___________
$0.01
___________
$0.00
TOTALS
$75,181.00
$12,841.00
(*) END OF PERIOD
(*) Does
not include
any rent
payment or other
amount then
due.
Initialed:
90-R]3
uWRP•r•=FNAN NES CORPORATION CAT RNANCNL'GO MMEMFAE'AGREE '
LEs$EE;
city, of Bangor LESSON, C9ryxW FNvoA
u BUNie.farWNyn
POORESB. 73 Marine street M401 gpgRE36:, I0630 LittlePatuxent Par4uey"
B gar, ME M401 '- '.:Colmhip' ID 31049,
Su[pn b Me Wrrm up wMlbw nl tint Mcw anp on M mvrr nwrol, Lwpt In Mem an taow'e We[Wm tl gb pulpnanl ppnlW
Mow Me!'WIY:a"NYI61. agnnp aR.:ln. bate ant tell tlN LM1bb Leve. anp Lsxe agrewb Me ant P
epLea
nWs t W IM4 awn he
a[aNIonNYnM MpnrMYNwYN aw RvcNes Pap
One He, Ca ep{ll ar O6R Track -Type Tactor SH 32FO1360 4 1,353.03 r 4 1 W'
M Nmbs • BYIbYI p septets 30 9 .1pas
LacagonAd UnWr 73 Marl 5 e t, Bangor, %,hobtaot County. NE
Tb®NanaalayPUM:w PruLLMISm'fIanfOle))pPuduee Oplinr(Secllpn lC(bU4TpIMaBNfo MCWMQIN kawL.
/:pa m PNe4bM. Notni tnetandI Section 3 of ,M Uses, Lea MH pay tLe 1
(including the pc«:rre
principal and Merest Party 1 n t of $ 1 35300
'60 con ectrI mantdlf installments, ncing on a date ae—in
ordance with a m R(a) o (b), Wlax.' •• "
Losses sill report this lease to the Internal ancestor Servby filing Form "5035-0..
Failure to ch so will cause the Wasme U, lase its tax-exempt statue. Lessee .
agrees that if the appropriate form is not filed, tM transaction will be adjusted
to reflect an'equivalent taxable interest re". - : I •":.,::'•an
o » ". " TEAMS AND CONOIIIONS:OF LEASE• r. T, m
z. BExrFu: xEr LEASE: Duxnq IM I.uu Ixm.IcernaslWl perbLe®d. wAmww
utlreaearm[ mlmnn ¢bow [� Maum oPrerbaXm.aLawrmY
eavauY"Mom°n[n°r:na3. inp Oral Do's
o.ia b"M1[aaa"whin paemn In Un 0`
on[n irv. o.liL`�r�Dna°.,"araaminrdnne e.Yn nar:'li¢naa
saw
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te
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b¢ in'¢ Lean, aaa am
¢M1ell be epplietl bbd feel reMel payment rM Mreuntbt If
Loans
ate by l� ndeceMe ins Learn, sed dnouMrAl b
MumM b leswe.le¢ee An
WV I[ Lester. mdsmoMwashe. a Mle prymenldsga equtl lb the III
all
FA (armbnN or Am
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l bprepu[Ibn of eNwarty eeldlsNa[arefwiM MMrn wl:nelM1er aIs mnvrga%rose
mnany
Van answers or Just clam¢aleM
tore by Lessee apalnn I.uaor wmnawae Eaxw Osnnersleee yrev5vpmsNea nerem.IM1e cblln.liva¢n Lanwane Lae¢[.IxreunexeMll M
e: anttlM hV arvy aNM In a.mege b.lcsSol
rnisessun tt us. n.m uril.lpwewr mus M. ty Hq.11acnrrgm oI.M man
tt dMr uaYn Is my
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bmf.%ury pnaM m h:Lessee's use 011n0 Unl.orb.mallw[wsoI tamer umlAt daeunpW is ln. kiya'vlp. am FORM N future law
w[ omray llwaaln¢barms
3. WARRANIY DRCLAIMER: L ME ACKNMLEMM AND AOBEES THAT (A) EACH UNr IS OF A SPL, DESIGIN AND MANUFACTURE
SELECTED BY LESSEE AND IS SUITABLE FOR LESSEE'S PURMSE5 AND CO MM ALL SAFETY FEATURES DEEMED NECESSARY BY
-
LESSEER) LESSOR IS NOT A MANUFACTURER THEREOF,(a THE VEN°OR IS NOT AN AGENT OF LESSOR AND fa) LESSOR x NOT
MADEMERCNAM°ABRITY3 CONONION, OW OT HEREBY LI�DESCRIPTTIONA OI RASO IT' OR OR SVM'A61LFIT OF PRESS ANIY SUCH Nrt INAm RESPECTECT O MIS OROR INTITLE,
PPXECN WITH ME PURPOSES AND USES OF LESSEE. OR WITH RESPECT TO IDE APPROPRIATE CMACTE TION OF MIS
TNAR
SACDON FOR TAX, ACCOUmbD OR OTHER PURPOSES. Or; hung as M Even u De4M (m Iwe:uirer senate) Iw MCUs am IS
wNnping.(0amr a a to Usm, to the aXWta"hanNle any warranlua of he u«Wr of the Unb
o. PO85ESNDN. VSEgxO MNMENPNCE: Lwaee Nalnol(a3uae,gvN.mwlelnoesl«eerry Unll Ynpoprry.wrebs¢1y. unm4l/arinub4Wn
aMssaLWkablelawmregulaWn«ipantpurppaecrunh Nbempcod Levee'sbuairreee:SOabrvbn eMUniL fa)audma0ury VnIL MrmX
w am lift "Ou Mir lean luno a:a::ga ba use an UM I:an AM spemga' mins lend
D[wary spM.remanpePP4aYan
Survey assured nereW m anage m0lmalus al vry VM 40:A Inst a{adllM move, wXnoui mX pry when mnsenl of LessoA ar baeeY^ a tlpn w
Isr,a AM AW:renly a0abttauMP
xw(D ask ant lien,aklm,sauM lMere9 or ancumn«r✓nmany of is ngi•s Ym e yVM.
aM1e Vnis are arA tAall mmain persoralo pa011Mr u¢0pmamerMalucnmmu to reelry. Upon Fpor roli[e to le¢¢a. le¢wor lla
As
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han
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keelmi enUyM'ary mneu anV applYpwl�pbam UnNXdo wermss�w Nlmtlona aMi1 cwwla I and Itne ongnor ^al gu•ee br ms MILL Learn analM
'he
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Th
a ga:inaM paw On the Utah Lupn9ln, Term d Daft leu e.
SEE REVERSE SIDE FOR ADDIMONAL TERMS AND CONDMM OF AGREEMENT'
LESSEE ACKNOWLEDGES HAWNG RECEIVED A FULLY COMPLETED AND EKECMED COPY OF TMS AGREEMENT
M¢Lemeaat.oa.a
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