HomeMy WebLinkAboutRES 16-247RESOLUTION NO. 16-247
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 $652,000.00
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 Lessee 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.
The City of Beaumont finds and determines that the foregoing recitals are true
and correct.
Section 2.
The City of Beaumont expects the City of Beaumont will pay certain capital
expenditures in connection with the Property prior to the receipt of the Lease Purchase
Proceeds for the Property.
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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.
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This Resolution shall take effect from and after its adoption.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 6th day of
December, 2016.
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Mayo B6cky' AmeV -