HomeMy WebLinkAboutRES 99-262 RESOLUTION NO.
BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF BEAUMONT:
WHEREAS, the City of Beaumont is the "grant holder" for a project titled Southeast
Texas Auto Theft Task Force; and,
WHEREAS, the State of Texas through the Automobile Theft Prevention Authority
has provided grant funding for operation of the Southeast Texas Auto Theft Task Force;
and,
WHEREAS, a portion of that grant funding provides for lease of police vehicles to
be operated by personnel assigned to the Southeast Texas Auto Theft Task Force; and,
WHEREAS, the City of Beaumont as project "grant holder" desires to enter into a
lease agreement with Government Capital Corporation for the purpose of securing a
vehicle to be used in operation of the Southeast Texas Auto Theft Task Force; and,
WHEREAS, the City of Beaumont desires to designate the lease agreement as a
"qualified tax exempt obligation" of the City for the purposes of §265(d)(3) of the Internal
Revenue Code of 1986 as amended.
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
That the City Manager of the City of Beaumont be, and is hereby, authorized to execute
all documents necessary to enter into a lease agreement with Government Capital
Corporation for the purpose of securing a police vehicle at a lease cost of Six-Hundred
($600) Dollars per month for the period of September 1, 1999 through and including
August 31, 2000.
BE IT FURTHER RESOLVED that the lease agreement between the City of
Beaumont and Government Capital Corporation is designated by the City as a "qualified
tax exempt obligation" for the purpose of§265(d)(3) of the Internal Revenue Code of 1986,
as amended.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 7M- day of
1999.
L,
- Mayor -