HomeMy WebLinkAbout1984-07-12city council minutesBook 25 Page 157
SPECIAL MEETING
July 12, 1984
10:00 a.m..
The Special Meeting was called to order by Mayor McCluskey.
The Roll of the City Council was called with the following
members present: Carter, Mallea, Marcus, Cowles, Raymond, and
Norman. Absent: None.
(CONSIDERATION ON LEASE PROPOSAL FROM FIRST INTERSTATE BANK OF IDAHO)
The Mayor stated that the purpose of calling this Special City
Council Meeting was to give consideration to a lease proposal
from the First Interstate Bank of Idaho. The Caldwell City
Council shall provide First Interstate Bank of Idaho, N.A., with
a duly executed copy, with original signatures, of the Council
meeting minutes authorizing the lease financing. The minutes
shall also describe the equipment and its original cost, State
the lease term, payment amount and annual percentage rate,
Identify the individual authorized to sign the lease documents,
Indicate First Interstate Bank of Idaho, N.A., as Lessor, and
unanimous approval of the City Council is required and must be
stated on the meeting minutes.
The information was as follows:
1. Description: Described as 100 feet wide, by 125 foot long,
by 18 foot high (eve), Pre - fabricated, metal Industrial Building
with concrete slab floor. Building is equipped with electric
space heaters, lighting and a 1000 amp electrical distribution
panel. Building is insulated and restroom facilities along with
an on site waste disposal system is provided. Six large entrance
doors are included. Other than the bathrooms, no interior
-- partitioning has been included. The building is located on Lot 3
of the Survey of Airport Lease lots by Alpha Engineers, Inc.,
(Drawing No. 77 -34) dated 7/18/77, and is on file in the City
Engineer's Office. The anticipated final cost of the building
and site preparation is $154,000.00.
2. Lease term, payment amount and annual percentage rate:
Lessee will make seven (7) consecutive annual payments of
$28,407.35 each, first payment due in advance (9.49% APR).
3. A. H. "Al" McCluskey, Mayor of the City of Caldwell is
authorized to sign the lease documents.
4. The lessor is indicated as First Interstate Bank of Idaho, N.
A .
5. Unanimous approval designated in motion below.
MOVED by Carter, SECONDED by Norman that the Mayor of the City of
Caldwell be authorized to enter into a Lease Proposal with First
Interstate Bank of Idaho, N.A.
Roll call vote. Those voting yes,: Carter, Mallea, Marcus,
Cowles, Raymond, and Norman. Those voting no: none. Absent and
not voting: none.
MOTION CARRIED
(DISCUSSION - RON REDMOND ON AUCTION)
Mr. Redmond discussed with the City Council and received
permission to conduct an auction for the purpose of disposing of
various items of the Johansen judgment.
There being no further business, the Meeting was adjourned at
10:15 A.M.
Book 25 Page 158
written 17th
APPROVED AS THIS DAY OF
July 1984. — — -
.Mayor
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ATTEST: —
City Clefqe