[RivCompanions] Vote needed

Tue Jun 24 13:49:48 UTC 2014

I vote yes, but I do want to be clear about the internal loan status - 
This is my understanding from what Susie wrote: When we buy the tractor, our debt (to ourselves) will be approximately $60,000.                                                                                                                                                                                                                                                                            We will have approximately $15,000 left in the development fund which will only slowly recover.                                                                                                                          That leaves us no financial wiggle-room should something else come up.
What I do not see is the total amount of the MONTHLY loan repayment, for all three loans.
I'd like to be reassured that whatever it is, that the monthly total will not exceed what we can comfortably re-pay ourselves.
Cathy

-----Original Message-----
From: Claudia & Joe Porter <porter45 at bellsouth.net>
To: Companions of the Rivendell Community <RivCompanions at justus.anglican.org>
Sent: Mon, Jun 23, 2014 8:25 pm
Subject: Re: [RivCompanions] Vote needed

Yes -- from Claudia and Joe -- good choice of tractor!

On Jun 23, 2014, at 12:57 PM, Susie Danielsson <susiedanielsson at gmail.com> wrote:

Dear All,

This is going only to the professed voting members (I think) plus Bp Barry, who is interested in what we are doing.

The consensus seems to be that we should buy the new Kabota tractor.  I've been in to the dealer again this morning and talked with Tim Vaughn who seems to be the one person who isn't trying to sell me the biggest, best tractor, and who is friendly in our small town way, answers all my questions, and is just a nice guy.

Oh, by the way, I had a brain phart when I gave you all the first quote on the L4600.  It is actually $24,860 after the $1000 cash discount. I subtracted rather than added. <blush>

So, the L3800 is a bit smaller in horse power and it comes with a 5' front loader rather than a 6'.  It will still do the work we need.  Powerful enough to grade the lane of all the pot holes and ruts.  It will pull a 6' brush hog and it does not have cruise control. 

The L3800 seems to be just right for our needs and the cost, tax-exempt and with the cash discount is $20,945.00.  That's a significant difference!

I propose we purchase the L3800 taking an internal loan from the Development account, repaying it over five years as if we were getting financing from Quarles Kabota. We could include the $1,000 discount as interest.  That would be a monthly payment to ourselves of $365.75. Of course, if anyone wants to pay into it that would help.

If you remember from the financial report (I didn't, why would you?) we have an outstanding loan balance for the cottages of $53,883.52, although that doesn't include the June payment. There is also an outstanding loan balance of $5200 on loan B.  We will have a balance in the Development account of $15,121.00 after taking the $20,945.  

My motion is to buy the Kabota L3800 at a cost of $20,945.00 using the Development account funds, to be repaid monthly over 5 years at $365.75 per month.  

We are desperate now that we've had rain to get working!  Please vote ASAP by replying to this email. Please do not reply to me personally.  The whole Community of professed members should see the vote.  

Much love,

Susie

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