Okaloosa County BOCC — November 16, 2013 — Motor Grader Attachment — reading text

Proceeds used to advance refund priorissues .......2..2.2.2.2..~.4i{ 28 29 Total (add lines 24through 28)... 2...) 29 30 __Nonrefunding proceeds of the issue (subtract line 29 from line 23 and enter amount here) 30 Description of Refunded Bonds. Complete this part only for refunding bonds. 31 Enter the remaining weighted average maturity of the bonds to be currently refunded > years 32 Enter the remaining weighted average maturity of the bonds to be advance refunded > years 33 Enter the last date on which the refunded bonds will be called (MM/DD/YYYY) > 34 Enter the date(s) the refunded bonds were issued ® (MM/DD/YYYY) For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 63773S Form 8038-G (Rev. 9-2011) Form 8038-G (Rev. 9-2011) Page 2 uae Miscellaneous 35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) . 35 36a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract (GIC) (see instructions) a 36a Enter the final maturity date of the GIC > Enter the name of the GIC provider > 37 Pooled financings: Enter the amount of the proceeds of this issue that are to be used to make loans to other governmental units soo 8 em Ra $8 @ 8 eR FT ee we ee we we | BF 38a If this issue is a loan made from the proceeds of another tax-exempt issue, check box ® [_] and enter the following information: b Enter the date of the master pool obligation > Enter the EIN of the issuer of the master pool obligation > Enter the name of the issuer of the master pool obligation >» 39 If the issuer has designated the issue under section 265(b)(3)(B)(i)(III) (small issuer exception), check box . o> 40 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . > Oo 41a If the issuer has identified a hedge, check here » L] and enter the following information: b Name of hedge provider > c Type of hedge > d_ Term of hedge > 42 Ifthe issuer has superintegrated the hedge, check box . nae a > 43 If the issuer has established written procedures to ensure that all nonqualified bonds of this issue are remediated according to the requirements under the Code and Regulations (see instructions), check box > 44 If the issuer has established written procedures to monitor the requirements of section 148, check box > oO 45a If some portion of the proceeds was used to reimburse expenditures, check here ® [1] and enter the amount ofreimbursement. ..........0P b Enter the date the official intent was adopted > Under penalties of perjury, | declare that | have examined this return and accompanying schedules and statements, and to the best of my knowledge Sig nature land belief, they are true, correct, and complete. | further declare that | consent to the IRS's disclosure of the issuer's return information, as necessary to iprocess this return, to the person that | have authorized above. and | Consent > Signature of issuer's authorized representative Date Type or print name and title Print/Type preparer’s name Preparer’s signature Date ; PTIN Paid A. ne = ferearemenryenicn — ES a Preparer H. Evan Howe zorRoni9 1208 0500 08/19/2013 ploy P01438994 Use Only Firm's Name » _ Baystone Financial LLC Firm's EIN > 48-1223987 Firm's Address » 5350 College Bivd., Overland Park, KS 66211 Phone no. (800) 752-3562 Form 8038-G (Rev. 9-2011)) Cowin Equipment Invoice Date: 08/01/2013 Make checks Payable to: BB&T Insurance Services Effective Bond Number Description Amount Due Date TBD TBD Buy-Back Performance Bond $3,128 Buy-Back Amount is $148,967 for 3 years $148,967 x 0.7% x 3 = $3,128 Total Cost of Bond Total Amount Due: $3,128 PLATTE RIVER INSURANCE COMPANY SURETY BOND FOR THE REPURCHASE OF EQUIPMENT Bond Number: Bond Effective Date: KNOWN ALL MEN BY THESE PRESENTS, that the Surety and the Principal under this Surety Bond are the parties named and identified as follows: Surety Principal Name: Platte River Insurance Company Principal's Name: Address: PO Box 5900 Madison, WI 53705 Primary address: Incorporated: Nebraska Telephone: (678) 528-6600 BY THIS SURETY BOND, the above named and Identified Surety and Principal are held and firmly bound to: in the amount of: ($ ) to the payment of which said sum of money, well and truly to be made and done, the Principal himself, his heirs, executors, administrators, successors and assigns, and the Surety binds itself, its successors and assigns, jointly and severally, firmly by these presents. WHEREAS, the above named and identified Principal has entered into a written Contract with the Obligee dated the day of to supply the following: , in accordance with specifications prepared by the Obligee which Contract is by reference made part hereof, and is herein after referred to as the "Contract" WHEREAS, the Contract provides for an established guaranteed repurchase price for the Equipment for a peroid until from date units are placed in service and upon compliance with certain stipulated conditions, and WHEREAS, the Obligee requires and the Principal and Surety agree to provide this Surety Bond in support of the above stated guarantees NOW, THE CONDITIONS of this Surety Bond obligation are that, if the Principal shall promptly and faithfully keep his promises and perform his duties as required under the terms and conditions of his Contract with the Obligee, then this Surety Bond obligation shall be nuff and void: otherwise it shall remain in full force and effect. IT 1S FURTHER AGREED AND UNDERSTOOD THAT: (1) The liability of the Surety under this Surety Bond shall in no event exceed the Bond Amount shown above; (2) The Principal and the Surety have entered into a Bond Indemnity Agreement which governs their Tespective rights, duties and obligations to one another and limitations on such rights, duties and obligations; ; (3) Any suits at law or proceedings in equity for any clalm hereunder must be filed before the expiration of one year from which final payment under the Contract falis due; (4) No right of action shalt accrue on this Surety Bond to or for the use of any person or corporation other than the Obligee named herein, or the executors, administrators, successors or assigns of the Obligee SURETY Platte River Insurance Company PRINCIPAL Signature: _ Signature: x, a ts Print name: Rachel Fell Print name: Title: Attorney-in-Fact Title: Form 14016 (Rev 04/2003) Authorized Countersignature (Whefe Required) _ \COWIN| Mr. Don Amunds April 22, 2013 Okaloosa County Commission 302 N Wilson Street Crestview Fl 32536 Re: Buyback offer for Volvo Motor Graders Dear Mr. Amunds, | want to thank you for allowing us to offer Volvo G930B Motor Graders for your consideration. The following conditions will apply to the buyback of the units. 1. Each unit shall be in good working order and will be inspected by Cowin Equipment. Any repairs deemed necessary will be at the sole discretion of Cowin Equipment. All glass shall be intact and shall have no cracks. The sheet metal shall be in good condition and should only reflect normal wear and tear. The tires shall have at least 50% tread life remaining. All maintenance shall be performed in accordance with Volvo recommendations and Volvo filters shall be used. Preventive maintenance checklist will be provided for your use. Documentation of maintenance records will be required. 6. Each unit shall have less than 1500 hours per year of operation. For a three year buyback this will be 4500 hours. 7. Each unit shall be enrolled in 4 year/6000 hour Extended Warranty program. 8. Cowin Equipment will perform regular inspections at no cost to Okaloosa County. In the event one of the conditions is not met, the cost to remedy: will be deducted from the buyback amount. 9. It will be the responsibility of Okaloosa County to notify Cowin Equipment 90 days prior to the 36 month delivery anniversary. we WN Three year Buyback $148,967.00 Mr. Amunds, thank you for allowing us to continue to serve your needs. If you have any questions, please feel free to give me a call. Sincerely, John Edwards Governmental Sales Manager Cowin Equipment Company 850-685-7055 Okaloosa County Florida RESOLUTION NO. WHEREAS, OKALOOSA COUNTY HAS REQUESTED PROPOSALS FOR THE LEASE PURCHASE OF MOTOR GRADERS AND AFTER CONSIDERATION AND REVIEW OF THE SAME, THE DIRECTORS OF THE PURCHASING AND PUBLIC WORKS DEPARTMENTS HAVE RECOMMENDED THE ACQUISITION SUBJECT TO A SELL BACK OPTION. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA: 1. Determination of Need. The Governing Body of Obligor has determined that a true and very real need exists for the acquisition of the Equipment described on Exhibit A of the Lease with Option to Purchase Agreement dated as of August 19, 2013, between Okaloosa County Board of Commissioners (Obligor) and Kansas State Bank of Manhattan (Obligee). 1. Approval and Authorization. The Governing Body of Obligor has determined that the Contract, substantially in the form presented to this meeting, is in the best interests of the Obligor for the acquisition of such Equipment, and the Governing Body hereby approves the entering into of the Contract by the Obligor and hereby designates and authorizes the following person(s) to execute and deliver the Contract on Obligor’s behalf with such changes thereto as such person(s) deem(s) appropriate, and any related documents, including any Escrow Agreement, necessary to the consummation of the transaction contemplated by the Contract. Authorized Don R. Amunds, Chairman of the Board Individual(s): Don W. Howard, Clerk of Circuit Court (Printed or Printed Name and Title of individual(s) authorized to execute the Contract) 2. Adoption of Resolution. The signatures below from the designated individuals from the Governing Body of the Obligor evidence the adoption by the Governing Body of this Resolution. DULY PASSED AND ADOPTED in regular session this the 3rd day of September, 2013. OKALOOSA COUNTY, FLORIDA Don R. Amunds CHAIRMAN Attest: Board of County Commissioners DON W. HOWARD Clerk of Circuit Court