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<br />RESOLUTION NO. 9I-O?7
<br />
<br />WHEREAS, the City Council of the City of Paris, did at
<br />its special meeting on September 24, 1990, approve the
<br />purchase of two rear-loading refuse compaction trucks and
<br />thereafter did advertise for bids for furnishing said
<br />rear-loading refuse compaction trucks, which bids were
<br />received until 10:00 o'clock A.M., Tuesday, December 4, 1990;
<br />and,
<br />
<br />WHEREAS, the best bid for such purchase was made by
<br />Southwestern Equipment Company, 3123 Ruder Street, Dallas,
<br />Texas, and the City Council of the City of Paris did by
<br />mot ion on December 10, 1990, award sa id bid to Southwes tern
<br />Equipment Company; and,
<br />
<br />WHEREAS, said Southwestern Equipment Company did by
<br />letter dated January 31, 1991, assign the right to arrange
<br />financing for the City of Paris to Consolidated Financial
<br />Resources, Inc., P. O. Box 962, Greenville, Texas 75401; and,
<br />
<br />WHEREAS, said Consolidated Financial Resources, Inc.,
<br />did by Acknowledgement of Assignment, assign the rights in
<br />and to the lease payments to GE Capital Public Finance, Inc.,
<br />Lock Box NW 9117, Minneapolis, Minnesota 55485; and,
<br />
<br />WHEREAS,
<br />Agreement for
<br />Exhibit A, and
<br />
<br />the form of said Municipal Lease-Purchase
<br />providing such trucks is attached hereto as
<br />such form should be approved; and,
<br />
<br />WHEREAS, the City of Paris desires to designate this
<br />Agreement as a "qualified tax exempt obligation" of the City
<br />for the purposes of Section 265(b)(3) of the Internal Revenue
<br />Code of 1986, as amended; NOW, THEREFORE,
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
<br />PARIS, that the Bid of Southwestern Equipment Company, for
<br />the lease purchase of two rear-loading refuse compaction
<br />trucks was accepted and let by motion on December 10, 1990,
<br />conditioned upon said Southwestern Equipment Company's
<br />meeting all of the terms and specifications included in the
<br />bid documents, and the same is hereby confirmed; and,
<br />
<br />BE IT FURTHER RESOLVED, that the Municipal Lease-
<br />Purchase Agreement by and between the City of Paris and
<br />Consolidated Financial Resources, Inc., is designated by the
<br />City as a "qualified tax-exempt obligation" for the purposes
<br />of Section 265(b)(3) of the Internal Revenue Code of 1986, as
<br />amended; and,
<br />
<br />BE IT FURTHER RESOLVED, that the City Manager of the
<br />City of Paris, Michael E. Malone, be, and he is hereby
<br />authorized and directed to execute on behalf of the City of
<br />PRr;R the Municioal Lease-Purchase Agreement, upon the terms
<br />
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