HomeMy WebLinkAboutC.054.93011_0505 (2)Wayside Volunteer Fire Department
Financing Propos Is
5 ear amortization
7—year amortization
Annual
Closing
Prepayment
Total
Annual
Closing
Prepayment
Total
Interest
Costs
Penalty
Interest
Interest
Costs
Penalty
Interest &
Rate
& Costs
Rate
Costs
BB&T
3.61%
$ 587
01/.
$27,193
3.78%
$587
0%
$30,638
Bank of
4.501/.
-
2%
$33,350
4.75%
2%
$38,299
America
DaimlerChrysler
3.50%
-
0%
$25,776
3.80%
0%
530,210
(American
LaFrance
First Citizens
3.70%
$ 600
0%
$27,285
3.99%
$600
0%
$31,721
Bank
SouthTrust
3.61%
*
0%
$26,606
3.83%
*
0%
$30,449
Bank
+ costs
+costs
*Attorney's
opinion,
recording fees
No 5 amount
listed
United Financial
Did not submit a proposal
Note: United Financial is the company that Wayside initially contacted and entered into a
financing arrangement with on May 3, 2004.
Mrs. Blumenstein said it appeared the Daimler/Chrysler proposal would have
the lowest cost. She said the fire department officials had entered into a lease and
option agreement with United Financial in May of this year; however, she felt the
commitment would be nonbinding, especially if the county refused to offer a letter of
support. (Traditionally, United Financial has always requested letters of support from
the county when the VFDs obtained financings.)
Request for the Appointment of a Voting Delegate for the Legislative Goals
Conference Sponsored by the North Carolina Association of County
Commissioners Scheduled for Thursday and Friday, January 13-14, 2005, at the
Radisson Hotel, in High Point, NC: The board discussed the legislative conference
and decided to postpone any decisions until the December 21 meeting.
ADJOURNMENT: Chairman Tice adjourned the briefing session at 6:30 p.m.
Approved: Z"'4'
Clerk to the Board