HomeMy WebLinkAboutRES 93-084 RESOLUTION
WHEREAS,bids were received Monday,March 8, 1993,for lease purchase financing
arrangements for a 1993 Caterpillar Model 826C sanitary landfill compactor; and,
WHEREAS, Bank One Leasing Corp., Irving, Texas, submitted a bid at the rate of
53 basis points below the interest rate of the 6% Coupon Treasury Notes maturing in
November 1997 for a three (3) year term with annual non-appropriation; and,
WHEREAS, City Council is of the opinion that the bid submitted by Bank One
Leasing Corp., Irving, Texas, is the best bid meeting specifications and should be accepted;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the bid submitted by Bank One Leasing Corp., Irving, Texas, for lease purchase
financing arrangements for a 1993 Caterpillar Model 826C sanitary landfill compactor at the
rate of 53 basis points below the interest rate of the 6% Coupon Treasury Notes maturing
in November 1997 for a three (3) year term with annual non-appropriation, for an
approximate total payout of $291,181.50 including interest, be accepted by the City of
Beaumont.
BE IT FURTHER RESOLVED that the City Manager be and he is hereby
authorized to execute a lease purchase financing contract arrangement for a 1993 Caterpillar
Model 826C sanitary landfill compactor.
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PASSED BY THE CITY COUNCIL of the City of Beaumont this the ! day of
1993.
- Mayor -