HomeMy Public PortalAbout85-026 (03-19-85)RESOLUTION NO. 85-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LYNWOOD AUTHORIZING THE LEASE PURCHASE OF A FIRE
PUMPER FROM EMERGENCY ONE, INC., FOR THE SUM OF
ONE HUNDRED FIFTY THOUSAND, SIX HUNDRED EIGHTY-
FOUR DOLLARS AND NINETEEN CENTS, ($150,684.19)
WHEREAS, the life of the present Fire Pumper has been
overextended, (18 years), and is due for replacement, and,
WHEREAS, the City Council finds that the acquisition
of a Fire Pumper can be more economically and efficiently
effected through a negotiated Lease Purchase, and,
WHEREAS, the terms and payment schedule of lease purchase
are as follows:
Purchase
Payment amount applied to price
Payment Payment ~ (remaining)
number amount Interest Principal balance)
Sales price $150684.19
Down payment $25000.00 $25000.00 125684.19
1 30091.46 $ 0.00 30091.46 95592.73
2 30091.46 9463.68 20627.78 75964.95
3 30091.46 7421.53 22669.93 52295.02
4 30091.46 5177.21 24914.25 27380.77
5 30091.46 2710.70 27380.46 0.00
NOW, THEREFORE, the City Council of the City of Lynwood
does hereby find, determine, order and resolve as follows:
SECTION 1. The lease purchase of a Fire Pumper can be
~' more economically and efficiently effected through a negotiated
i ~ lease purchase agreement, and the lease purchase from San Diego
Fire Equipment Co., Inc., is thereby approved. The Mayor is
authorized to execute the form of lease and option agreement
provided to the City Council, subject to the approval of the
City Attorney.
SECTION 2. This resolution shall become effective
immediately upon its adoption.
PASSED, APPROVED and ADOPTED this 19th day of
March _, 1985. -~
i~~,~
JOI~ D. BYORK, Mayor
City of Lynwood
ATTEST:
ANDREA L. HOOPER, City C erk
City of Lynwood APPROVED AS TO CONTENT:
APPROVED AS TO FORM: ~ ~~
,r~~ JO H Y. W N , -.E.
(// Dim for of ublic Works ity Engineer
City Attorney ;/_
1Y~'l , --
BARBARA FIKEL, Accounting Manager
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
i~
I, the undersigned, City Clerk of the City of
Lynwood, do hereby certify that the foregoing Resolution
was passed and adopted by the City Council of the City of
Lynwood at a regular meeting held on the 19th day of
March 1985.
AYES: COUNCILMEN HENNING, ROWE, THOMPSON, BYORK
NOES: NONE
ABSENT: COUNCILMAN MORRIS
I
ANDREA L. HOOFER, City Clerk
City of Lynwood