2016-007 - Municipal Lease Agreement with Liberty National Bank for fire truck

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RESOLUTION 2016 -007 A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF AN EQUIPMENT LEASE/PURCHASE AGREEMENT WITH RESPECT TO THE ACQUISITION, PURCHASE, FINANCING AND LEASING OF A FIRE TRUCK; AUTHORIZING THE EXECUTION AND DELIVERY OF DOCUMENTS REQUIRED IN CONNECTION THEREWITH; AND AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION. WHEREAS, the City of Paris, Texas (the "Lessee'), a body politic and corporate duly organized and existing as a political subdivision, municipal corporation or similar public entity of the State of Texas, is authorized by the laws of the State of Texas to purchase, acquire and lease personal property for the benefit of the Lessee and its inhabitants and to enter into contracts with respect thereto; and WHEREAS, the Lessee desires to purchase, acquire and lease certain equipment with a cost not to exceed $1,000,000 constituting personal property necessary for the Lessee to perform essential governmental functions (the "Equipment"); and WHEREAS, in order to acquire such equipment, the Lessee proposes to enter into that certain Municipal Lease Agreement (the "Agreement') with Liberty National Bank (or one of its affiliates)(the "Lessor3, the form of which has been presented to the governing body of the Lessee at this meeting; and WHEREAS, the governing body of the Lessee deems it for the benefit of the Lessee and for the efficient and effective administration thereof to enter into the Agreement and the documentation relating to the financing of the Equipment for the purchase, acquisition and leasing of the equipment to be therein described on the terms and conditions therein provided; NOW, THEREFORE, BE IT AND IT IS HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS AS FOLLOWS: Section 1. Approval of Documents. The form, terms and provisions of the Agreement are hereby approved in substantially the forms presented at this meeting, with such insertions, omissions and changes as shall be approved by the Mayor of the Lessee or other members of the governing body of the Lessee executing the same, the execution of such documents being conclusive evidence of such approval; and the Mayor of the Lessee is hereby authorized and directed to execute, and the City Clerk of the Lessee is hereby authorized and directed to attest and countersign, the Agreement and any related Exhibits attached thereto and to deliver the Agreement (including such Exhibits) to the respective parties thereto, and the Mayor and City Clerk of the Lessee are hereby authorized to affix the seal of the Lessee to such documents.