HomeMy WebLinkAboutRES 96-236 RESOLUTION NO. 9� �
WHEREAS, on Monday, September 16, 1996, bids were received for providing a
three (3) year financing agreement for the purchase seven (7) pieces of equipment for the
Water Utilities Department; and,
WHEREAS, Bison Leasing Texas, L.P. submitted a bid for a three (3) year financing
agreement in the amount of 90 basis points below the yield of the 5 1/8% Coupon Treasury
Note maturing December 1998; and,
WHEREAS, City Council is of the opinion that the bid submitted by Bison Leasing
Texas, L.P. should be accepted;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT-
THAT the bid submitted by Bison Leasing Texas, L.P. for a three (3) year financing
agreement for the purchase of seven (7) pieces of equipment for the Water Utilities
Department in the amount of 90 basis points below the yield of the 5 1/8% Coupon
Treasury Note maturing December 1998 be accepted by the City of Beaumont and the City
Manager is hereby authorized to execute the lease purchase agreement.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the &�t day of
1996.
- Mayor -