1995-005-RES WHEREAS, CITY COUNCIL DID AT ITS SPECIAL MEETING ON SEPTEMBER 19, 1994
RESOLUTION NO.
95-005
WHEREAS, the City Council of the City of Paris, did at its special meeting on
September 19, 1994, in Ordinance No. 94-042, authorize the purchase of a 1995 Rear
Loading Refuse Compaction Truck for use in the Sanitation Department, and thereafter did
advertise for bids for furnishing said Rear Loading Refuse Compaction Truck, which bids
for such were received until 3:00 P.M., Tuesday, October 25, 1994; and,
WHEREAS, the best bid for such purchase was made by PEGUES-HURST
FORD, Post Office Box 3686, Longview, Texas 75606, and it was awarded the bid for
such equipment on November 14, 1994; and,
WHEREAS, the Lease/Purchase Financing Proposal with ASSOCIATES
COMMERCIAL CORPORATION for the purchase of one 1995 Rear Loading Refuse
Compaction Truck is attached hereto as Exhibit A, and such Agreement should be
approved; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that
the City Manager of the City of Paris, Michael E. Malone, be, and he is hereby authorized
and directed to execute on behalf of the City of Paris the Lease/Purchase Financing
Proposal upon the terms and conditions shown in Exhibit A attached hereto, with
ASSOCIATES COMMERCIAL CORPORATION, financing the purchase of a 1995 Rear
Loading Refuse Compaction Truck.
PASSED AND ADOPTED this 9TH day of January, 1995.
A~
ATTEST:
Mattie Cunningham, City Cler
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LEAS~PL.. .'::HASE FINANCING:PROPO,
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,: :';, PROPOSAL# 18709 (Revised)
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, ',OPTION #1
"PfiymElnts ,
: " N!-lInber ofPaym~nts '
'payment Timing ,
, ~aYlTlentArtlo~nt "
'Payment Factor ,
Total Amount,Furlged
'Ar1nual Percentage Rate
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'In,advan,ce
60
Monthly
,$1,163.13
, 0.019546
$59,506.39
6.69% .
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DOCUMENTATION AND FUNDING MUSTeE COMPLETED gV APRil 30, 1995 .,' ','
........~...+U"'....~.A U,,:I.~U U ...;.U~J,.I. J. ~ -'..A ~... U ......u...UEQ U IPMENT D gS,CRIPTION ~ ,.U.UlU'" A')'U"~J.4..UlU4~'U U,II.
QESCRIPTI~
, 199,5 ~ewCurrent,
Rear~Loadin9' '
, Refus~Compaction '
, .True/('" ,,'
~ANUFACTUREB QNTY., DELlVEBY
FO,rd ' ' 1 '3/95 "
, f..Q!.JIPMENT COST'
$67,006:39 '., "
,TOTAl-EQUIPMENT COST AFTER DOWNfTRADE: '$59,500,39
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.u.uu.i~................, ..........1.....,... ........."J.,lAU 1<....... J.1iJ.I-,U"'AqJ.,I.J." ...J...u.....lJ.,l, J.... ,.'lkA,LJ..L.aA AI, .10"'1.,4.".1. "loA .,......,1,." ....UU......UA.... ...,1.1... "J."l.l,i:...,,~,,~
The, ,abclve fina,ncing has been arranged by TM Associates, for submission io: '
, " ' the City of Paris, Texas
Tl'\isproPosalls for financing only and is subject to:.. '
1. Compietion, of mutually ~cceptable documentation substantially in the fomi of theenclOSl;ld
:ss(ripte d~ments. " ' " , '
, 2. A review of the' ptoposedessential use of the equipment and a final credit approval for "
", the Ci.t}i of paris, Texas, prior to funding." '
'3. No material:adve,rse ch~nge in the financial condition of the City of Paris, Texas, prio,rto ,
" funding. ' ' '
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4. Receipt of a copy c,f the ,last three years' audited financial statements and the curreht yel;lrs' .-'
budget for the City of Paris, Texas. ' "
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'11118/94 03:40 PM
1870S,WK4
I='YI-HRIT A
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". VE'NDOR 'INSTRUCTIONSFOR LEASe.PURCHASEFINANCING .
P.s
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ITEMS NEEDED FROM VENDOR
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.'.:Pleas:e san~ th.e follqwing items to Municipal Financial at the appropriate address listed belolJyi
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: Deal.~r'.s BiII.of Sale (buyer's order) addr~ssed to the municipality listing theequlpmentb~ing'
. . sold and all vehicle identification numbers. . . '.
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For cars. and trucks, a copy of the title/registration of the equipment indicating the
. MunIcipality as Registered .owner and designating .The Associates, 301' East Ca'rpe'nter
Freeway, Irving, Texas 75062-2726 as the FIRST LIENHOLDER. "
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3. ',' Instruq,tions on.yoUr COMPANY LETTERHEAD listing the f~lIowing so we:ean yvire transf~,r'
the' prqceeds tqyouraccounr: ,. ..
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NAME. ADDRESS AND TELEPH.oNE NuMBER .oF y.oUR BANK"
BANK R.oUTING NUMBER AND YOUR ACC.oUNTNUMBER AND ACC.oUN'T NAMe' '.
. SIGNATlIRE AND TITLE .oF THE PERSON SUPPLYING THE INFORMATION' .
. VEND.oR FEDERAL TAX 1.0. NUMBER
Note: Payment to. you will be made within five business days from the data we:
recehie an acceptable executed lease-Purchase Agreement.'with attachn1e~ts, the IR~ . . .'.
. r~pdi'~ing form (if applicable) and all six items outlined on this instruction page.
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. ITEMS NEEDED FROM. THE MUNICIPALITY
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The follOWing items arqequired at the time of delivery and shouldbc.mailed to Th~ Ass9t';iat.es~,
4,
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. F;irst payment check and dOCUmentation fee, jfapplicable.
;' A Certificate of Insuran~e covering the equipment or completed. Tempcir.ary .Insuran'ce 'Form
.' Whi~h."a's been p'ioviQed.' '. "',. .
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6: . '.SignflQ UCC-1.form (if applicable)
. . . Mail /Ill, .matedal concerning this transaction to the address below:
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MAILING INSTAUCTIONS
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Associates Commercia.1 Corporatlo'n
Attn:. Edward F'. Pletzke, II
Vice!>resident
300 East Carpenter. Frl!eway .
. Irving, TX 75062-2726
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i'~mediateIY .advise us (1 ~800-421 C4779) of any change In prices, equipment, terms;or
,L.EASE/PUR ~ASEFINANCING:PROPOS. FOR, ·
, m.W OF PARIS, tEXAS '
, ,:'PROf'OSAL#18709 (Revised) ,
5. 'No change in Federa! or applicable state Qr local tax law, regul~tions., case law, rulings"or,
, other interpretations by the Ihternal Revenue Servicethat'Wouldaffe91 adversely any ,
F~deral,~tate or loqal tax benefit assumed in determining the above proposal. '
IS. That the City of Paris, Texas, qualifies as a political subdivisi,on as defined in the Internal
, , 'Rev~n~e Code. ' ' " "
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.' 11/18/94 03;40 PM
18709,WK4
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