<br />RESOLUTION NO. 2000-113
<br />
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
<br />PARIS, TEXAS, APPROVING THE LEASE PURCHASE FINANCING
<br />PROPOSAL FROM THE WELLS FARGO BROKERAGE SERVICES FOR
<br />A 2000 MODEL HORIZONTAL CUTTER MILL; AUTHORIZING THE
<br />EXECUTION OF A LEASE PURCHASE AGREEMENT; MAKING OTHER
<br />FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND
<br />PROVIDING AN EFFECTIVE DATE.
<br />
<br />WHEREAS, the City Council of the City of Paris did heretofore, on the 27th day of
<br />September, 1999, in Ordinance No. 99-066, authorize the purchase of one new horizontal cutter
<br />mill for use in the Sanitation Division of the Public Works Department, and thereafter did
<br />advertise for bids for furnishing said horizontal cutter mill, which bids for same were received
<br />until 3:00 p.m., Tuesday, the 27th day of June, 2000; and,
<br />
<br />WHEREAS, the best bid for such purchase was made by Poston Equipment, Inc. of
<br />Pearland, Texas, and the City Council of the City of Paris did, on July 10, 2000, award the bid
<br />for the same; and
<br />
<br />WHEREAS, it is further deemed appropriate that the City Manager be authorized to
<br />execute a Lease Purchase Agreement for said equipment for a total purchase price of $225 ,000.00,
<br />plus interest at the rate of 6.42 % and costs, through Wells Fargo Brokerage Services, LLC;
<br />NOW, THEREFORE,
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS,
<br />TEXAS:
<br />
<br />Section 1. That the findings set out in the preamble to this resolution are hereby in all
<br />things approved.
<br />
<br />Section 2. That the City Manager be, and he is hereby, authorized and directed to execute,
<br />on behalf of the City of Paris, a Lease Purchase Agreement, upon such terms and conditions as
<br />contained therein, and as contained in the financial proposal attached hereto as Exhibit A, at the
<br />price of $225,000.00, plus interest at the rate of 6.42 % and costs, with Wells Fargo Brokerage
<br />Services, LLC, financing the purchase of one 2000 Bandit Beast Horizontal Cutter Mill, for the
<br />Sanitation Division of the Public Works Department, from Poston Equipment, Inc.
<br />
<br />Section 3. That the City Manager, City Attorney, Finance Director, or other appropriate
<br />City official be, and they are hereby, authorized and directed to execute any and all other
<br />necessary documents related to the transaction approved herein.
<br />
<br />Section 4. That this resolution shall be effective from and after its date of passage.
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