HomeMy Public PortalAbout90-144 (08-21-90)RESOLUTION NO. 90-144
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD,
CALIFORNIA, AUTHORIZING STAFF TO APPLY FOR $381,818 =N
ICLFA FUNDS BE USED FOR THE PURCHASE OF EQUIPMENT AND
THAT A PORTION OF THE GARAGE FUND BE USED TO PROVIDE
DEBT PAYMENT
WHEREAS, on May 1, 1990 at their regularly scheduled
eeting, the City Council approved the purchase of a fire pumper,
loader, mower and refurbishment of a snorkel truck, with an
Independent Cities Lease Financing Authority (ICLFA) loan; and
WHEREAS, the City working together with ICLFA is
proposing to proceed with a lease financing application for
$381,818 to purchase said equipment through the Exempt Lease
Variable Interest Securities (ELVIS) Program of ICLFA; and
WHEREAS, a portion of the Garage Fund will be used to
provide debt service payment for the ELVIS loan;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Lynwood, California, as follows:
SECTION 1. That the City Manager or his designee is authorized
to process and execute all documents necessary to proceed in
accordance with this resolution.
SECTION 2. The City Clerk shall certify to the passage and
adoption of this resolution, and it shall thereupon be in full
force and effect.
' PASSED, APPROVED
Auaust 1990.
AND ADOPTED this 21st day of
ayor, City of Lynw
A ST:
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City Clerk
APPR VED TO FORM:
Ci orney
ty of Lynwood
APPROVED AS TO CONTENT:
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City Manager
City of Lynwood
'
r:elvisres
1
STATE OF CALIFORNIA )
) ss.
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, do
hereby certify that the foregoing resol.ution was passed and
adopted by the City Council of the City of Lynwood at a regular
meeting held on the 21st day of August, 1990 by the following
vote:
AYES: COUNCILMEMBERS HEINE, REA, RICHARDS, WELLS, HENNING
NOES: NONE
ABSENT: NONE
~~~-~-~'-~~ ~~; s~/~~J
City Clerk, City of Lyn od
STATE OF CALIFORNIA )
) ss.
COUNTY OF LOS ~NGELES )
I, the undersigned City Clerk of the City of Lynwood and
Clerk of the City Council of said City, do hereby certify that
the above and foregoing is a full, true and correct copy of
Resolution No. 90-144 on file in my office and that said
resolution was adopted on the date and by the vote therein stated.
Dated this 24th day of August, 1990.
~~~~ :~si ~.-~~
City Clerk