RESOLUTION 2019-5

RESOLUTION AUTHORIZING SPECIAL PURCHASE OF 2013 GRADALL WITH WARRANTY AND AUTHORIZATION FOR BANK FINANCING
	
	WHEREAS, the Clay County Commissioners received an opportunity to purchase a 2013 Gradall XL3100IV from Southeastern Equipment Co., Inc, 4951 West 96th St., Indianapolis, IN 46268 for the price of $220,000.00 for which the Clay County Commissioners believe such purchase price to be substantially under the market value of such equipment;

	WHEREAS, such offer also included a warranty.

	WHEREAS, such 2013 Gradall XL3100IV has had approximately 1600 hours of operation and that the Clay County Commissioners believe that such 2013 Gradall XL3100IV has an approximate market value of $260,000.00, being $40,000.00 less than the purchase price;   

	WHEREAS, the Clay County Commissioners have concluded that such purchase is in the best interest of Clay County, Indiana; that such purchase price is substantially below market value; and that requiring the soliciting of bids would be of no value to Clay County, Indiana and would likely result in such equipment being sold to another party;

	WHEREAS, such offer is determined to be a unique opportunity to obtain such equipment at a substantial savings to Clay County, Indiana as authorized under I.C. 5-22-10-5;

	WHEREAS, it will be necessary to finance such prompt purchase through relatively short term bank financing and to appoint a Commissioner representative to procure such prompt bank financing.

	NOW, THEREFORE, be it resolved by the Board of Commissioners of Clay County, State of Indiana:

	That the Board of Commissioners of Clay County, State of Indiana hereby designates the purchase of the Gradall XL3100IV from Southeastern Equipment Co., Inc. as a “special purchase” under the provisions of I.C. 5-22-10 et seq and specifically I.C. 5-22-10-5 and that the soliciting of bids is not practical under the circumstances.

	That it is necessary to promptly finance such special purchase, and the Clay County Commissioners authorize and approve the Commissioner President, Bryan Allender, to obtain a loan through Terre Haute Savings Bank, on behalf of the Clay County Commissioners, through a 1 year Note for $145,000.00 at the approximate interest rate of 2.75% with the option to pay off such obligation early.  Commissioner President, Bryan Allender, is further authorized to sign the appropriate financing documents on behalf of the Clay County Commissioners in order for the County to procure such prompt financing.     

	SIGNED AND SEALED this 3rd day of July, 2019.
BOARD OF COMMISSIONERS, CLAY COUNTY, INDIANA:

                                	______________________________
							Bryan Allender, Commissioner 
							President

							______________________________
							Paul Sinders, Commissioner

							______________________________
							Marty Heffner, Commissioner

ATTEST:

______________________________
Jennifer M. Flater
Auditor, Clay County, Indiana