Herons Glen Recreation District Resolution 2026-07 Golf Course Maintenance Equipment Lease
District approves five-year golf equipment lease financing
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Description
Herons Glen Recreation District approved a five-year Government Obligation Contract with Municipal Asset Management, Inc. to finance golf course maintenance equipment totaling $360,624.27, with annual lease payments of $84,156.80. The lease is funded from the 2025/2026 Golf Operations and Maintenance Budget and runs through November 24, 2030 with an option to own the equipment at the end of term.
Contract Details
Contract Amount
$84,156.80 per year; total principal $360,624.27
Vendor
MUNICIPAL ASSET MANAGEMENT INC
Agency
Herons Glen Recreation District, FL
Contract Type
EQUIPMENT
Document Date
March 16, 2026
Contract Term
Five-year government lease; first payment at closing then 4 payments per year from 02/24/2026 through 11/24/2030
Renewal Date
2030-11-24
Renewal Info
Fixed five-year amortizing lease under a Government Obligation Contract with no stated renewal terms; payment schedule assumes 20 quarterly payments culminating on November 24, 2030, after which the purchase option price is $0 if all payments are made.
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