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June 11,2002 <br /> <br />Baker, of 919 Hunting Ridge Road; James H. Johnson, Jr., of 1507 White Oak Court; <br /> <br />Kourtney Barker, of 1305 Mulberry Road; and Kevin Barrett Laine, of 1100 Cherokee <br /> <br />Trail. Chris Koumparakis, former City resident, spoke in opposition to the <br /> <br />reappointment of Mr. Davies. Mayor Crabtree declared the Public Hearing closed. <br /> <br />Council considered business from the floor. Mr. Crigger read a letter that he had <br /> <br />submitted to the Martinsville Bulletin complimenting the Electric Department. <br /> <br />Council received and reviewed the recycling staff report for the three-month <br /> <br />period of February through April 2002. <br /> <br />Council Member Roop moved to adopt the following Consent Agenda items; the <br /> <br />motion was duly seconded and carried by the following vote, with all members voting: <br /> <br />Vote 5 - 0; Yeas (5) - Crabtree, Dallas, Ferrill, Roop, Teague; Nays (0) - None: <br /> <br />A. Accept and appropriate in the General Fund for the FY02 Budget the <br /> following: $861 in Revenue into 01100908 480410 - Donations/Fire <br /> Department for Expenditure in 01321102 506014 - Miscellaneous/Fire <br /> Department <br />B. Adopt the following resolution authorizing the City Manager to enter into an <br /> equipment lease-purchase agreement dated June 14, 2002 between <br /> SunTrust Bank, as Lessor, and the City of Martinsville, Virginia, as lessee, in <br /> the principal sum of $332,204.00 for the purchase of a caterpillar 816F <br /> compactor and a caterpillar 963C truck loader: <br /> <br />WHEREAS, in its budget for the year 2001-2002 Martinsville City <br />Council authorized the purchase by the City of a caterpillar 816F <br />compactor for $183,373.00 and a caterpillar 963C truck loader for <br />the sum of $151,831.00; and <br />WHEREAS, the City Finance Director entered into negotiations, <br />which resulted in the purchase of the aforesaid equipment by the <br />City for the total sum of $332,204.00; and <br />WHEREAS, said equipment has been delivered and is now being <br />used by the City; and <br />WHEREAS, SunTrust Bank has offered to finance said purchase <br />by reimbursing the City the amount thereof and taking from the City <br />a lease-purchase agreement dated June 14, 2002 in the total <br />principal amount of $332,204.00 bearing interest at the rate of three <br />per centum (3%) per annum, which lease-purchase agreement will <br /> <br /> <br />