HomeMy WebLinkAboutRES 20-050RESOLUTION NO. 20-050
WHEREAS, the City of Beaumont declared an intent to acquire certain
equipment as a capital expenditure with reimbursement to be funded from proceeds of a
lease purchase agreement. The equipment hereinafter called "PROPERTY" is generally
described below:
; and,
One (1) Fire Pumper Truck $749,488.00
WHEREAS, the City of Beaumont may pay certain capital expenditures in
connection with the Property prior to its receipt of proceeds of the lease -purchase
agreement described below for such expenditures; and,
WHEREAS, the City of Beaumont reasonably anticipated that it would make
expenditures with respect to the Property in the principal amount not exceeding the
amount stated above for which the City may or expects to enter into one or more Lease -
Purchase Agreements with a financial institution; and,
WHEREAS, City Council is of the opinion that it is in the best interest of the
citizens of Beaumont to allow the City to reimburse itself out of the proceeds of the
financing for a fire pumper truck if payment is required prior to the lease purchase being
secured;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
Section 1.
THAT the statements and findings set out in the preamble to this resolution are
hereby, in all things, approved and adopted; and,
Section 2.
The City of Beaumont expects the City will pay certain capital expenditures in
connection with the Property prior to the receipt of the Lease Purchase Proceeds for the
Property.
Section 3.
The City of Beaumont hereby declares the City of Beaumont's official intent to
use the Lease Purchase Proceeds to reimburse itself for the above described Property
expenditures.
Section 4.
This Resolution shall take effect from and after its adoption.
The meeting at which this resolution was approved was in all things conducted in
strict compliance with the Texas Open Meetings Act, Texas Government Code, Chapter
551.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 17th day of
March, 2020.
GIs - Va or Becky Ames -
y
l