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DRAFT J:\Attorney\Lisa\Resolutions\CiJRRENT\PW Excavator Lease Purchase.wpd December 5, 2001 RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING THE PURCHASE OF A MODEL YEAR 2002, 4-WHEELED EXCAVATOR FOR USE IN PARKS AND RIGHTS-OF-WAY DIVISION OF THE PUBLIC WORKS DEPARTMENT; AUTHORIZING THE EXECUTION OF A LEASE PURCHASE AGREEMENT AND ANY AND ALL OTHER NECESSARY DOCUMENTS RELATED TO THE TRANSACTION APPROVED HEREIN; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris did heretofore, on the 12th day of November, 2001, in Resolution No. 2001-181, authorize the advertisement for bids for one (1) model year 2002, 4-wheeled excavator for use in the Parks and Rights-of-Way Division of the Public Works Department, said bids to be received unti13:00 p.m. on the 4th day of December, 2001; and, WHEREAS, the best bid for said equipment was made by Four Seasons Equipment ofDallas, Texas, and it should be awarded the bid for the same; and, WHEREAS, it is further deemed appropriate that the City Manager be authorized to execute a Lease Purchase Agreement for said equipment for a total purchase price of $169,958.00, plus interest at the rate of 5.48% and costs; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the City Manager be, and he is hereby, authorized and directed to execute, on behalf of the City of Paris, a Lease Purchase Agreement upon such terms and conditions as contained therein, at the price of $169,958.00, plus interest at the rate of 5.48% and costs, financing the purchase of one (1) model year 2002, 4-wheeled excavator for use in the Parks and Rights-of- Way Division of the Public Works Department. Section 3. That the City Manager, City Attorney, Finance Director, or other appropriate City official shall be, and they are hereby, authorized and directed to execute any and all other necessary documents related to the transaction approved herein.