HomeMy WebLinkAboutRES 06-001 RESOLUTION NO. 06-001
WHEREAS, the Fiscal Year 2006 budget designated certain equipment to be
financed through lease purchase agreements; and,
WHEREAS,the Capital Expenditure Schedules for lease purchases include fifty(50)
golf cars, one (1) 1,500 gpm fire pumper, three (3) articulated dump trucks and the
upgrading of traffic signal lights to LED lights; and,
WHEREAS, a more competitive atmosphere would be created by seeking financing
of multiple items totaling large sums; and,
WHEREAS, reimbursement of capital expenditures from lease purchase proceeds
potentially result in lower interest rates and satisfies the IRS requirements for
reimbursement of funds from lease purchase agreement:
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the City of Beaumont hereby declares its intention to purchase the above listed
capital equipment and to have this expenditure reimbursed from lease purchase agreement
proceeds.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 10th day of
January, 2006.
Aw
OV
(� octet
y Mayor Guy N. Goodson -
��f