Westlake Uses LaMATS Cooperative Program for Golf Course Equipment Acquisition
The City of Westlake has secured funding through a LaMATS cooperative lease purchase program for equipment additions at the city-operated National Golf Club of Louisiana. The new golf course turf maintenance equipment, financed by Government Capital Corporation (GCC), consists of a fairway aerifier, a John Deere Progator with a chemical/fertilizer sprayer, several heavy duty debris blowers and top dressers and rollers for greens maintenance.
“The tax exempt lease purchase structured by Government Capital Corporation was the perfect solution," stated Westlake City Clerk Andrea Mahfouz. "The financing options offered provided the budget flexibility we needed. Additionally, the process was quick, easy and enabled us to bundle purchases from multiple vendors into one financing, taking delivery of the equipment on our schedule. [GCC] walked me through each step of the process and responded quickly to our questions and needs so that the funding was completed in a timely manner.”
LaMATS Executive Director Cliff Palmer stated, “When any municipality is considering a lease-purchase of moveable equipment, our cooperative lease purchase program with Government Capital is a great option.”
The City of Westlake is situated in Calcasieu Parish, northwest of Lake Charles and bordered by the Calcasieu River. Westlake has grown considerably with the regional industrial expansion of recent decades. Community improvements have taken place rapidly and include the 600 acre, 18-hole championship golf course at the north end of Westlake and surrounding subdivisions currently under development. One such development, Augusta Village, offers lots available now.
About Louisiana Municipal Advisory and Technical Services Bureau (LaMATS): The Louisiana Municipal Advisory and Technical Services Bureau (LaMATS) was established in 1998 and is a wholly-owned subsidiary of the Louisiana Municipal Association (LMA). The mission of LaMATS is to inform, support and empower Louisiana's local governments. LaMATS offers a variety of services and programs including: the LaMATS Purchasing Services Network, Millage Management consulting, Municipal Debt Recovery, Insurance Premium Tax Collection Program, Occupational License Program, and etc. For more information: www.lamats.net
About Government Capital Corporation: Government Capital Corporation is a leading public finance firm providing professional financial services to municipalities, parishes, fire districts, schools and other local governmental entities. Since its founding in 1992, the company has successfully completed thousands of project financings in Louisiana and across the country. For more information, contact Marti Sauls, 800-883-1199, Direct 817-722-0227, Marti.Sauls@govcap.com