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four years versus six years, the benefits of financing the golf carts through the General Fund, and <br />the procedures/details of using a surplus auction instead of a reserve funding. <br />MOTION WAS MADE by Commissioner Davis, <br />SECONDED by Commissioner Wheeler, to authorize: <br />(1) the purchase of 154 golf carts and one (1) range cart <br />from Yamaha for a total net purchase price of $333,050 <br />representing a purchase price of $550,550 less trade-in <br />value of $217,500 for 144 golf carts and one (1) range <br />cart; (2) the Chairman to execute the Purchase Agreement <br />with Yamaha Golf -Car Company; (3) the County to hold <br />back ten (10) units for sale at County auction; and (4) <br />financing the purchase through an interfund loan from the <br />General Fund at an annual interest rate of 3.0% for a <br />period of six (6) years with regular principal and interest <br />payments due monthly. <br />Chairman O'Bryan summarized the Motion reiterating the exception of not selling the <br />carts using the auction reserve, but rather an absolute basis. He stated that there would be no <br />other transfers from the General Fund to make up shortfalls. <br />The Chairman CALLED THE QUESTION and the <br />motion carried unanimously. <br />6 <br />October 19, 2010 <br />