HomeMy WebLinkAboutRES 94-064 RESOLUTION NO. R
WHEREAS, bids were received for providing lease purchase agreements on one (1)
fire pumper for the Fire Department and one (1) excavator for the Solid Waste
Management Department; and,
WHEREAS, Security Capital Corporation submitted a bid for the purchase of a fire
pumper at the rate of 52.5 basis points below the yield rate of the 4-3/4% Coupon Treasury
Notes maturing August 1998 for a five (5) year term with annual non-appropriation; and,
WHEREAS, First Interstate Bank submitted a bid for the purchase of an excavator
at the rate of 10 basis points below the yield rate of the 7-3/4% Coupon Treasury Notes
maturing March 1996 for a three (3) year term with annual non-appropriation;
WHEREAS, City Council is of the opinion that the bids submitted by Security Capital
Corporation and First Interstate Bank should be accepted;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the bid submitted by Security Capital Corporation for the lease purchase of one (1)
fire pumper for the Fire Department at the rate of 52.5 basis points below the yield rate of
the 4-3/4% Coupon Treasury Notes maturing August 1998 for a five (5) year term with
annual non-appropriation be accepted by the City of Beaumont.
BE IT FURTHER RESOLVED that the bid submitted by First Interstate Bank for the
lease purchase of one (1) excavator for the Solid Waste Management Department at the
rate of 10 basis points below the yield rate of the 7-3/4% Coupon Treasury Notes maturing
March 1996 for a three (3)year term with annual non-appropriation be accepted by the City
�� - �� ej
M r
of Beaumont.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the a2 'i,,4ay of
1994.
- Mayor-