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FEB 10 1037 BOOK 6 7 ;. 151 The cost for a 48 month lease without full maintenance would be $59.63 per month, buyout at end of 1 year -$1967.13, for a total of $2682.69 each. The full maintenance would not be required because there is a 2 year warranty on parts and labor. 3. Recommendation Staff recommendation would be to go with a 48 month lease without maintenance and buyout at the end of the first year. Joe Baird and Thommy Thomas will review the lease submitted by Club Car and determine whether to go with their lease or seek outside financing. Chairman Scurlock pointed out that the bid tabulation mentions a 40 -month lease while staff's memo mentions it as a 48 -month lease, and OMB Director Joe Baird confirmed that it would be a 48 -month lease. Commissioner Wheeler asked if staff had the opportunity to see if we would be better off leasing or purchasing, and Tommy Thomas, Director of Intergovernmental Relations, advised that he and Director Baird will review the lease agreements so that we can negotiate the best possible lease, but stressed that we are not limited to taking their lease if we can find a better one. Commissioner Eggert understood that staff has investigated an outright purchase, and Director Thomas explained that if we purchase the golf carts outright, we would have to borrow money which would cause a shortfall. Commissioner Bird felt that a lease with an option to purchase gives us more flexibility, especially in a new operation, because we are not sure exactly how heavy our play is going to be and how many carts will be needed at various times. ON MOTION by Commissioner Eggert, SECONDED by Commissioner Bowman, the Board unanimously approved staff's recommendation of a 48 -month lease with no maintenance with an option to purchase from Club Car of Winter Park, Florida, and authorized staff to continue renegotiating on the best possible lease. 10