Marshall County Highway Administrator Laurie Baker presented the commissioners with lease financing and tax exempt paperwork for the county’s new paver.
County Attorney Jim Clevenger went over a resolution indicating that the county is entering into the lease purchase and agreement is approved substantially. A requirement to verify insurance was also included which was already complete. A list of all proposals considered by the commissioners has to be submitted and that the process was competitive.
Clevenger said the agreement also asks that the county attorney note that the sale is exempt from federal taxes. He said it is to the best of his knowledge. He was also asked if sufficient funds are available at the time the lease is signed. The county council approved an additional appropriation last week to cover the first payment of the paver.
With that, the commissioners approved all of the paperwork to be signed to be sent to Caterpillar Financial.
The first payment is $42,498.51.
Baker asked the commissioners what they should do with the old paver. It was suggested that they prepare the old paver and other equipment that may not be of any use to the highway department for a county auction. All other county departments will be able to put items in the sale as well. The highway department will make the arrangements for the sale to be held in August or September.
If the paver isn’t sold it will go into a consignment sale.