HomeMy WebLinkAboutRES 97-40 r 2--
RESOLUTION NO.
WHEREAS, on Monday, January 27, 1997, bids were received for providing a three
(3) year financing agreement for the purchase of six (6) pieces of equipment; and,
WHEREAS, Member Bank Leasing submitted a bid for a three (3) year financing
agreement in the amount of 100 basis points below the yield of the 5 7/8% Coupon
Treasury Note maturing March 1999; and,
WHEREAS, City Council is of the opinion that the bid submitted by Member Bank
Leasing should be accepted;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the bid submitted by Member Bank Leasing for a three (3) year financing agreement
for the purchase of six(6) pieces of equipment in the amount of 100 basis points below the
yield of the 5 7/8% Coupon Treasury Note maturing March 1999 be accepted by the City
of Beaumont and the City Manager is hereby authorized to execute the financing
agreement.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the day of
r
1997.
Yy' M"�
- Mayor -