FY 2021 Installment Financing Contract with Banc of America Public Capital Corporation for Equipment

Item 11 - Consideration of FY 2021 Installment Financing Contract with Banc of America Public Capital Corporation for Equipment ($4,434,000 - fixed interest rate of 0.7617% for a 59-month term) and Resolution Approving Proposal: - 59-month term ($4,434,000) • $1,285,000 – Transformers at Old Mill Road Point of Delivery Station • $2,400,000 – Wastewater Treatment Plant Generation System • $167,000 – Tar River Reservoir Raw Water Aeration System • $582,000 – Wastewater Treatment Plant Switch Gear & Motor Control Center

Recommended Actions - Adopt Resolution (authorizes execution and delivery of installment financing agreement and such certificates and documents necessary; and authorizes the Mayor, Finance Director and City Manager, or any one of them, to execute necessary documentation on behalf of the City)

Votes
Knight - Y
Blackwell - Y
Joyner - Y
Walker - Y
Daughtridge - Y
Bullock - Y
Miller - Y