HomeMy WebLinkAbout2008 Elgin Pelican Street Sweeper Award LetterTHE CITY OF BOZEMAN
814 N. BOZEMAN AVE. P.O. BOX 1230 BOZEMAN, MONTANA 59771-1230
PHONE (406) 582-3200 FAX (406) 582-3201
CITY SHOP COMPLEX
Art Logan- Western Plains Machinery 11/25/08
1728 Old Hardin Road
Billings, MT 59107
Dear Art,
Thank you for your bid for the Elgin Pelican P Sweeper. Your bid of a 6 year "Bank Qualified" Dollar -Out Lease
has been accepted with annual advance payments of $27,899.99. The sweeper shall be delivered to the City of
Bozeman at 814 N. Bozeman that was specified in the bid. Please use 111-41101VD as a purchase order number
and consider this letter as a notice to proceed. Thank you for interest and bid.
Sincerely,`
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iohn Van Delinder
Street Superintendent
City of Bozeman, MT
Cc: Larry Ruhd, Street Foreman
Stacy Ulmen, City Clerk
Equipment File
HOME OF MONTANA STATE UNIVERSITY
GATEWAY TO YELLOWSTONE PARK
Attachment #1
Commercial Capital
NATIONAL CITY COMMERCIAL CAPITAL
995 Dalton Avenue
Cincinnati, OH 45140
LEASE PAYMENT PROPOSAL
Prepared by: Jim Butts
Phone: (513) 455-9164
Fax: (866) 596-4245
iim. buttsCa)_nationalcity. com
For: City of Bozeman Date: 11/10/2008
Attn: John Van Delinder
Phone:
Fax:
Email:
One Dollar Buyout Lease
This structure is similar to a loan but offers 100% financing and various soft costs can be included in
the lease. We can offer seasonal payments, step-up payments, skip payments, 90-day deferred, etc.
Please contact us for details about these options.
(Equipment Cost: $ 143,905
"Bank Qualified"
Dollar -Out Lease
Annual Payments (Advance)
Equipment Description: 2008 Elgin Pelican P
"Non -Bank Qualified"
Dollar -Out Lease
Annual Payments (Advance)
Years $32,409.99 $32,810.99
Years $27,899.99 $28,324.99
" Applicable freight will be added. Payments subject to credit approval and a one time $100.00 documentation fee.
* Quote assumes that your organization is tax-exempt municipality.
* Used/Demo equipment lease is only available with the One Dollar Buyout terms.
* The payment described in this quote has been calculated based on the current Cost of Funds (COF) for National City Bank.
If on the Commencement Date for the last item of Equipment prior to the beginning of the Initial Term, the COF
for National City Bank is greater or there is an adverse change in Lessee's credit standing, Lessor may adjust
the payment accordingly.
" Non -Bank Qualified means that they issue more than $10 Million in tax-exempt debt during the calendar year.