HomeMy WebLinkAboutRES 93-014 RESOLUTION
WHEREAS, on January 11, 1993, bids were received for the lease purchase
financing of two (2) pumper trucks (Units A and B); and,
WHEREAS,First Bank and Trust of Groves submitted a bid on Unit A at a fixed
rate of 5.50% with annual payments in advance for a total payout of $279,460.16 including
interest; and
WHEREAS, First Bank and Trust of Groves submitted a bid on Unit B at 54
basis points below index at the time of closing with annual payments in advance for an
approximate total payout of $258,056 including interest; and,
WHEREAS, the City Council is of the opinion that the bids submitted by First
Bank and Trust of Groves are the lowest and best bids and should be accepted;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the bids submitted by First Bank and Trust of Groves for the lease purchase financing
of two (2) pumper trucks at a fixed rate of 5.50% with annual payments in advance for Unit
A and 54 basis points below index at the time of closing with annual payments in advance for
Unit B be accepted by the City of Beaumont.
3
BE IT FURTHER RESOLVED that the City Manager be and he is hereby
authorized to execute a lease purchase financing contract with First Bank and Trust of Groves
for the purchase of two pumper trucks for use by the Fire Department.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the Lqt/ day
of 1993.
Mayor -
Pro Tem
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