Posted: March 17, 2023
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF032923 03

Agenda Item Title:

Authorize the Mayor and Finance Director to sign loan documentation with Black Hills Community Bank for Meadowbrook Golf to purchase various pieces of grounds equipment in the amount of $246,325.00

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
03/29/2023
City Council Hearing Date:
04/03/2023
Staff Contact:
Tracy Davis, Interim Finance Director
Agenda Item Summary:
Meadowbrook Golf is a purchasing the following grounds equipment: GreensPro 1260 Roller, Groundsmaster 3500D, Groundsmaster 4000D, Reelmaster 3575D, and a Workman GTX EFI through National IPA pricing (all equipment was approved by the Council at the March 6, 2023 Council meeting). This loan is for 6 years at 5.5% interest.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

Attachments & Links to Download:

pdf LF032923 03 BH Community Bank golf loan 031523

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