HomeMy WebLinkAbout13. 12-518
OCTOBER 23, 2012 12-518 RESOLUTION
(CARRIED___7-0_____LOST________LAID OVER________WITHDRAWN________)
PURPOSE: APPROVE PURCHASE OF GOLF CARTS FOR PARKS
DEPARTMENT/LAKESHORE MUNICIPAL GOLF COURSE FROM
LIBERTY BANK & TRUST COMPANY ($25,655.11)
INITIATED BY: PURCHASING DEPARTMENT
WHEREAS, the current lease for golf carts at Lakeshore Municipal Golf Course will
expire on November 1, 2012; and
WHEREAS, the lease provides the City with the option to purchase the leased carts
at the expiration of the lease for the amount of $25,655.11; and
WHEREAS, the current local market value of the golf carts exceed their purchase
price as described in the lease; and
WHEREAS, it is reasonably anticipated that these golf carts can thereafter be sold
at a sales price in excess of their purchase price.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Oshkosh that the proper City officials are hereby authorized and directed pursuant to
Section 12-11 of the Oshkosh Municipal Code to purchase the 34 golf carts identified in
the City’s expiring lease from:
LIBERTY BANK AND TRUST COMPANY
6600 Plaza Drive
New Orleans, LA 70127
Total: $25,655.11
BE IT FURTHER RESOLVED that the proper City officials are hereby authorized
and directed to enter into an appropriate agreement for the purpose of same. Money for
this purpose is hereby appropriated from:
Acct. No. 5517-0630-7210-00000 Golf Fund – Motor Vehicles
CITY HALL
215 Church Avenue
P.O.Box 1130
Oshkosh,Wisconsin
54903-1130 City of Oshkosh
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TO: Honorable Mayor and Members of the Common Council
FROM: Jon Urben, General Services Director
DATE: October 15, 2012
RE: Approve Purchase-Golf Carts for Lakeshore Municipal Golf Course
BACKGROUND
Since 2007 the City of Oshkosh has leased golf carts from Tiziani Golf Cars for our Lakeshore
Municipal Golf Course. The current lease is set to expire on November 1, 2012 and has a buy-out
option for the 34 golf carts listed at$25,655.11.
ANALYSIS
City staff has concluded that the current market value of the golf carts exceeds their buy-out
value. As such, City staff has determined it is in the City's best interest to exercise the buy-out
option of the current lease, solicit offers to purchase the carts as one lot, and then utilize the
dollars from the sale towards another multi-year golf cart lease program for Lakeshore Municipal
Golf Course effective in 2013.
FISCAL IMPACT
The payoff amount for the buy-out option for the 34 carts is $25,655.11. Funding for this item
would be charged to A/N#517-630-7210-00000.
RECOMMENDATION
Purchasing recommends the Common Council exercise the buy-out option of the current golf cart
lease program for 34 golf carts for$25,655.11 to Liberty Bank and Trust Company.
Respectfully Submitted, Approved:
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Jon Urben, General Services Manager Mark Rohloff, City Manager
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