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J RESOLUTION NO. 2114 WHEREAS, the City Council of the Ci`y of Paris, did at its regular meeting on the 8th day of June, 1981, approve the advertisement for bids for the lease of One (1) New, Current Production Model Wheel Loader for one -year term with three (3) one -year options at a level monthly lease rate with option to purchase at the end of the primary term, and at the end of each option if option is exercised, with option to purchase for One Dollar ($1.00) in the event that all three (3) lease options are exercised, which bids were received until 10:00 o'clock A. M., Wednesday, July 8, 1981; and, WHEREAS, the best bid for such lease was made by Allen Machinery Company, Inc P. 0. Box 7389, Longview, Texas 75607, and it should be awarded the lease for furnishing said Wheel Loader; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, That the bid of Allen Machinery Company, Inc., for the lease of One New, Current Production Model Wheel Loader to be de- livered within fourteen (14) calendar days for a lease price per month of $1,191.28, with purchase option at the end of primary term of one year at $36,919.32, with purchase option at the end of first year option at $25,816,19, with purchase option at the end of second year option at $13,550.39, with purchase option at the end of third year option at $1.00, is hereby accepted and let, conditioned upon said bidder meeting all of the terms and specifications included in the bid docu- ments; and, 2.6; '3E IT FURTHER RESOLVED, That the City Manager of the City of Paris, Robert W. Sokoll, be, and he is hereby authorized to execute on behalf of the City of Paris a lease agreement incorpo- rating the terms set out in this resolution, with Allen Machinery Company, Inc. Passed and adopted this 13th day of July, 1981, 41Z'. ..! • ATTEST: H. C. Gree e, City Clerk APPROVED AS 0 FORM: - "'I'.- aynes- City Attorney