HomeMy WebLinkAboutResolution 1811irk ,y R,
A Resolution
VVF~REAS, the governing body has determined that a true and very real need exists for the acquisition
of the Equipment described in .the Master Municipal Lease and Option Agreement No. 1 (the
"Agreement") presented to this meeting; and
WHEREAS, the governing body of the lessee has taken the necessary steps, including any legal bidding
requirements, under applicable raw to arrange for the acquisition of such Equipment,
WHEREAS, the governing body hereby directs its legal counsel to review the Agreement and negotiate
appropriate modifications to said Agreement so as to assure compliance with state law and local statutory
law, prior to execution of the agreement by those persons so authorized by the governing body for such
purpose,
BE I'T RESOLVED, by the governing body of Lessee that:
Finding: Authorized Officers. The terms of said Agreement are in the best interest of lessee for the
acquisition of such Equipment and the governing body of lessee designates and confirms the following
persons to execute and deliver, and to witness (or attest,) respectively, the Agreement and any related
documents necessary to the consummation of the transactions contemplated by the Agreement.
RESOLVED, the acquisition of the Equipment, under the. terms and conditions provided for in the
Agreement, is necessary, convenient, in the furtherance of and will at all times be used in connection with
the lessee's governmental and proprietary purposes and functions and are in the best interest of the lessee
and no portion of the equipment will be used directly in any trade or business carved on by any person
other than a governmental unit of the State on a basis different from the general public.
RESOLVED, the Lessee covenants that it will perform all acts within its power which are or may be
necessary to insure that the interest portion of the Rental Payments coming due under the Agreement will
at all times remain exempt from federal income taxation under the laws and regulations of the United
States of America as presently enacted and construed or as hereafter amended.
City Manager
Director of Fiscal Services
Asst. Dir. of Fiscal Service
EXHIBIT A _
`i '~~ EQU I~PMENT LEASE
~~
Item Description Vendor
1 Vehicles Prestige Ford
Patrol Cars (32) Garland, Texas
M&C P-5376
Dtd. 12/19/91
2 Vehicles (17) North Loop Dodge
M&C P-5376 Fort Worth, Texas
Dtd. 12/19/91
3 Vehicles (13) Nichols Ford
M&C P-5376 Fort Worth, Texas
Dtd. 12/1.9/91
Amount Due Date Term
466,208.00 6/19/92 36
182,634.00 4/19/92 36
176,250.00 3/3/92 36
4 Vehicles (6) Hudiburg Chevrolet Inc. 111,476.25 4/19/92 36
M&C P-5376 Fort Worth, Texas
Dtd. 12/19/91
5 Tug Tractor Darr Equipment Co.
M&C P-5399 Fort Worth, Texas
Dtd. 1/7/92
6 Fork lift (4000 #) Darr Equipment Co.
M&C P-5400 Fort Worth, Texas
Dtd. 2/24/92
Sub-Total
7 4-Wheel Drive (2) AIS Continental Corp.
Rubber Tire Loader Dallas, Texas
M&C P-5427
Dtd. 1/21/92
8 Street Sweepers (2)STM Equipment
M&C P-5428 Tyler, Texas
Dtd. 1/21/92
9 Pressure Washer/ Summit White GMC
Vacuum Cleaning Dallas, Texas
Machine
M&C P-5429
Dtd. 1/21/92
Sub-Total
21,016.00 3/30/92 36
16,370.00 2/24/92 36
973,954.25
36
137,276.00 4/2G/92 48
188,144.00 4/5/92 48
158,043.00 7/20/9 48
•
483,463.00
4s
Total 1,457,417.25
-..r1.
EXHIBIT B
VENDOR
. 3 YEARS
MONTHLY
AMOUNT FINANCE
MONTHLY PMT
RATE
FACTOR
ANNUAL PMT
TOTAL PMT
FINANCING COST
VENDOR
4 YEARS
MONTHLY
AMOUNT FINANCE
MONTHLY PMT
RATE.
FACTOR
ANNUAL PMT
TOTAL PMT
FINANCING COST
TOTAL COST
`• OTHRR
TOTAL
PUBLIC FINANCE SANWA GEL
GROUP INC
OKLAHOMA CITY, OK DALLAS, TEX
'EaELECTED BID
ASSOC COMMERCI MUNICIPAL
CORP. SERVICE GROUP
DALLAS, TEX HOUSTON, TEX
973,954.25 973,954.25 973,954.25 973,954.25
29,713.40 29,859.59 29,638.40 29,660.47
6.19 6.52 6.02 6.07
0.030508 ~ 0.030658 0.030431 0.030454
356,560.76 358,315.08 355,660.80 355,925.64
1,069,682.27 1,074,945.24 1,066,982.40 1,067,776.92
95,728.02 100,990.99 93,028.15 93,822.67
483,463.00 483,463.00 483,463.00 483,463.00
11,416.30 11;485.38 11,380.76 11,69.66
6.28 6.59 6.12 6.07
0.023614 0.023756 O.G23540 0.023517
136,995.62 137,824.56 136,569.12 136,-435.92
547,982.49 551,298.24 546,276.48 545,~~~.68
64,519.49 67,835.24 62,81;1.48 62,28v.68
. 1,617,664.76 1,626,24'x.48 1,613,258.88 1,613,52.60
" 300.00
1,617,664.76 1,626,243.48 1,613,558.88 1,613,50.60
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