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[CABARRUSCOU Ih'J <br /> <br />TO: <br /> <br />JOHN V, WITHERSPOON <br />COUNTY MANAGER <br /> <br />FROM: <br /> <br />DATE: <br /> <br />BLAIR BENNETT <br />FINANCE DIRECTOR <br /> <br />JANUARY 13~ 1992 <br /> <br />SUBJECT: AWARD AND LEASE FINANCING FOR EQUIPMENT <br /> <br /> Cabarrus County requested proposals from First Union National <br />Bank and Wachovia Bank & Trust for lease financing of equipment. <br />The following equipment is subject to lease financing totaling <br />$627,487.00. <br /> <br />Equipment Amount <br /> <br />(1) Electronic Plotter <br />(1) Power Station <br />(2) Work stations @ 18,976 <br />(1) Communication consoles <br />(1) AS 400 Computer system <br />(2) Work station Digitizers @ 3,750 <br /> <br />$ 37,500 <br />112,530 <br />37,952 <br />350,505 <br />81,500 <br />7,500 <br /> <br />Total $627,487 <br /> <br /> It is my recommendation that the County accept the Wachovia <br />Bank & Trust proposal which has the lowest rate of 5.01% fixed, <br />with payments being semi-annual for five (5) years using an escrow <br />funding arrangement. <br /> <br /> Additionally, it is requested that Madam Chairman, Carolyn <br />Carpenter, be authorized to execute the finalized lease agreement <br />and that the attached copy of the Governing Body Resolution be <br />approved by the Board of Commissioners. <br /> <br />BB:jys <br /> <br />cc: Ken Carpenter <br /> Tim Crist <br /> <br /> Finance Department <br /> <br />P.O. Box 707 · Concord, NC 28026-0707 · {704) 788-8104 <br /> <br /> <br />