HomeMy Public PortalAboutResolution No. 510-19 06-10-2019RESOLUTION S) lD r/
A RESOLUTION REGARDING A LEASE PURCHASE AGREEMENT FOR THE PURPOSE OF PROCURING
"SIGNALIZED INTERSECTIONS AND GPS VEHICLE KITS':
WHEREAS, City of Richland Hills desires to enter into that certain Lease-Purchase Agreement No.8691, by and between
Government Capital Corporation and City of Richland Hills, for the purpose of procuring a "Signs/ized Intersections and GPS
Vehic/e Kits': The City desires to designate this Agreement as a "qualified tax exempt obligation" of the City for the purposes
of Section 265 (b) (3) of the Internal Revenue Code of 1986, as amended. The City of Richland Hills desires to designate Eric
Strong, City Manager, as an authorized signer of the Agreement.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF THE CITY OF RICHLAND HILLS:
Section 1. That the City enters into a Lease Purchase Agreement with Government Capital Corporation for the purpose of
procuring "Signalized Intersections and GPS Vehic/e Kits".
Section 2. That the Lease Purchase Agreement No.8691, by and between the City and Government Capital Corporation is
designated by the City as a "qualified tax exempt obligation" for the purposes of Section 265 (b) (3) of the Internal Revenue
Code of 1986, as amended.
Section 3. That the City of Richland Hills designates Eric Strong, City Manager, as an authorized signer of the Lease Purchase
Agreement Number 8691, by and between the City of Richland Hills and Government Capital''C//--o~~rporation.~~
PASSED AND APPROVED by the Board of the City of Richland Hills in a meeting held on the day of -J (..ea-~'1-~.- ,
2019.
Lessee: y of Richland i1Fs
`! ~ ~ ~
dward Lopez~a.
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Witness Signature
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Cathy Bourg, ity Secretary
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TEXAS MUNICIPAL LEASE-PURCHASE AGREEMENT -PAGE 11