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<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. <br />