File #: 23-288   
Type: Resolution (Consent) Status: Passed
File created: 6/5/2023 In control: Financial and Management Services - Finance
On agenda: 6/13/2023 Final action: 6/13/2023
Enactment date: 6/13/2023 Enactment #: 2023-199
Title: Commissioner Hovis - Finance - To Amend BOC Res #2023-168, Adopted May 25, 2023, to Revise the County Payment Obligation Date and to Adopt a Resolution Authorizing Finance Terms for the Rolling Stock Bid Award
Sponsors: Bob Hovis
Attachments: 1. Adopted 2023-199, 2. Resolution (FY23 Vehicle Financing Pkg)
Related files: 23-219

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Commissioner Hovis - Finance - To Amend BOC Res #2023-168, Adopted May 25, 2023, to Revise the County Payment Obligation Date and to Adopt a Resolution Authorizing Finance Terms for the Rolling Stock Bid Award

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STAFF CONTACT

Tiffany Murray - Finance - 704-866-3032

BUDGET IMPACT
budget

The County is obligated to make payments on this debt through June 21, 2026.

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BUDGET ORDINANCE IMPACT

N/A

BACKGROUND

Resolution 2023-168 approved May 25, 2023, awarded the new vehicle financing package to Banc of America which listed the County's payment obligation date as December 2, 2024.  It should have been listed as June 21, 2026, as per the agreement with Banc of America.  This amendment is being made to correct the County's payment obligation date on the financing and approve the attached financing Resolution which was not included with the original Board Action.

POLICY IMPACT

N/A

ATTACHMENTS

Resolution