HomeMy WebLinkAboutRES 13-226 RESOLUTION NO.13-226
WHEREAS, on April 9, 2013, the City Council of the City of Beaumont, Texas
passed Resolution No. 13-083 accepting the bid submitted by SunTrust Equipment
Finance & Leasing Corp., of Towson, Maryland, for a seven (7) year financing agreement
for a fixed interest rate of 1.56% to finance the water meter infrastructure project; and,
WHEREAS, the City and SunTrust Equipment Finance & Leasing Corp. have yet
to complete such agreement, but the City has incurred expenditures that need to be
reimbursed; and,
WHEREAS, City Council is of the opinion that costs incurred prior to the execution
of the SunTrust Equipment Finance & Leasing Corp. financing agreement should be
reimbursed;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the statements and findings set out in the preamble to this resolution are hereby, in
all things, approved and adopted; and,
THAT reimbursement of costs incurred prior to issuance of SunTrust Equipment
Finance & Leasing Corp. is hereby authorized by the City of Beaumont.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 15th day of
October, 2013.
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