I. Council Action Requested.
Title
WHEREAS, on September 10, 2024, pursuant to Order 24-171, the Town Council of the Town of Windham (the "Town") authorized the Town Treasurer to negotiate the terms of an equipment lease purchase and related documents to provide financing of an estimated $915,000 for the purchase of the following: 1.) public works trackless sidewalk tractor; 2.) public works dump truck; 3.) public works non-CDL rated dump truck; and 4.) public works one-ton pickup (collectively the "Equipment"); and
WHEREAS, on December 9, 2024, the Town issued a Request for Proposals for financing of the Equipment (the "RFP"); and
WHEREAS, the Town received three proposals in response to the RFP and the Treasurer accepted a proposal from TD Equipment Financing dated December 16, 2024, for the financing of the Equipment in an amount not to exceed $896,651;
NOW, THEREFORE, IT IS HEREBY ORDERED, that
1. The Treasurer, on behalf of the Town, is authorized to enter into one or more lease purchase, loan or other financing agreements for the Equipment provided that (a) the principal amount of any such agreement or agreements will not exceed $896,651 in the aggregate; (b) the term of each such agreement will not exceed seventy-two (72) months; and (c) any obligation of the Town to make lease or loan payments pursuant to each such agreement is subject to annual appropriation by the Town Council of the Town.
2. The Treasurer, acting on behalf of the Town, is authorized from time to time to further negotiate, enter into, execute, deliver and cause to be performed, and to approve, any and all agreements, instruments, certificates and other documents, and to grant security interests in all or any portion of the Equipment, upon such terms, conditions, limitations and undertakings, which the Treasurer determines necessary and proper for the acquisition and financing of the Equipment. Without limiting...
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