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RESOLUTION N0. 2114 <br />WHEREAS, the City Council of the City of Paris, did <br />at its regular meeting on the 8th day of June, 1981, approve <br />the advertisement for bids for the lease of One (1) New, <br />Current Production Model Wheel Loader for one-year term with <br />three (3) one-year options at a level monthly lease rate <br />with option to purchase at the end of the primary term, and <br />at the end of each option if option is exercised, with option <br />to purchase for One Dollar ($1.00) in the event that all three <br />(3) lease exercise, bids until <br />10:00 o'clock , <br />WHEREAS, the best bid for such lease was made by Allen <br />Machinery Company, Inc „ P. 0. Box 7389, Longview, Texas 75607, <br />and it should be awarded the lease for furnishing said Wheel <br />Loader; NOW, THEREFORE, <br />BE IT RESOLVED BY THE CITY COUNCIL QF THE CITY OF PARIS, <br />That the bid of Allen Machinery Company, Inc., for the lease <br />of One New, Current Production Model Wheel Loader to be de- <br />live.r.ed within fourteen (14) calendar days for a lease price <br />pet _-fonth of $1,191.28, with purchase option at the end of <br />Driniary term of one year at $36,919.32, with purchase option <br />at the end of first year option at $25,816.19, with nur.chase <br />option at the end of second year option at $13,550.39, with <br />purchase option at the end of third year option at $1.00, is <br />hereby accepted and let, conditioned upon said bidder meeting <br />all of the terms and specifications included in the bid docu- <br />ments; and, <br />BE IT FURTHER RESOLVED, That the City Manager of the City <br />of Paris, Robert W. Sokoll, be, and he is hereby authorized to <br />execute on behalf of the City of Paris a lease agreement incorpo- <br />rating the terms set out in this resolution, with Allen Machinery <br />Company, Inc. <br />Pa.ssed and adopted this 13th day of July, 1981. <br />ABl e BurnettATTEST: <br />H. C. Gree e, City Clerk <br />APPROVED AS 0 FORM: <br />/ <br />. . aynes, City Attorney <br />