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December 30, 2003 <br /> <br /> At the conclusion of this CloSed SesSion, each member of COuncil certified that <br />(1) only public business mb.~fs exer~Pt f~rn b~)bn mebiiiig requirements were <br />discussed in said Closed Session; and (2) only those business matters identified in the <br />motion convening the Closed SesSion ~wrb heard, all, busSed, or cOhsidered during said <br />Session. Upon return to Open Session, Council tOok the following action: <br /> <br /> A. Council Member Ferrill moved to instruct the City Attorney to <br /> contact the Mercer Group, Inc., of Atlanta, Georgia, to finalize an <br /> agreement for executive search services for the position of City <br /> Manager; the motion was duly seconded and carried by the <br /> following vote, with all members Voting: Vote 4 - 0 - 1; Yeas (4) - <br /> Cobbe, Ferrill, ROop, Teague; Nays (0) - None; Abstention (1) - <br /> Dallas. <br /> <br /> Vice Mayor Roop moved to adopt the following Resolution; the motion was duly <br />seconded and carried by the following vote, with all members voting: Vote 5 - 0; Yeas <br />(5) - Cobbe, DallaS, Ferrill, Roop, Teague; Nays (0) - None: <br /> <br /> WHEREAS, the City of Martins~/ille ~ssued a RFP seeking <br /> proposals regarding the purchase of a City owned street sweeper; <br /> and <br /> WHEREAS. the City entered into negotiations with Sun Trust Bank, <br /> for the purchase of a street sweeper for a sum not to exceed <br /> $127,000.00; and <br />WHEREAS, SunTrust Bank has, offered to finance said purchase <br />by reimbursing the City the aYriouht thereof and taking from the City <br />a lease-purchase agreement in the total pnncipal not to exceed <br />$127,000.00 bearing interest at the rate of three and twenty-five <br />one-hundreds per centum (3.25%) per annum, which lease- <br />purchase agreement wilJ obligate the City of Martinsville to repay <br />the aforesaid indebtedness in sixty (60) consecutive monthly <br />installments of not more than Two Thousand Two Hundred Ninety- <br />six Dollars and Sixteen Cents ($2,296.16) each commencing on the <br />fifth day of February 2004 and on the first day of each succeeding <br />month thereaft~i' uhtil said principal and interest are fully paid, at <br />which time SuqTru§t ~hall convey title to said equipmbnt to the City; <br />and <br />WHEREAS, SunTrust Bank has requested that this transaction be <br />approved by a resolution of City Council, and that the execution of <br /> <br /> <br />