HomeMy Public PortalAbout2000.032 (03-07-00)._
_ ~ RESOLUTIONS NO 2000.32 ~ ~ -
- A 'RESOLUTION OF .THE LYNWOOD CITY COUNCII. OF THE .CITY . OF
~-=- LYNWOOD APPROVING AND AUTHORIZING THE CITY MANAGER AND THE- ~`~
` ~ 'DIRECTOR OF. FINANCE TO SELECT A FINANCING FIRM FOR .THE
`~.; ..~ LEA5E/PURCHASE OF. CITY. VEHICLES AND EQUIPMENT AND NEGOTIATE
...~ THE MOST FAVORABLE: -TERMS AND CONDITIONS UNDER THE
LEASE/PURCHASE AGREEMENT .
WHEREAS, many items in the City's fleet inventory of vehicles and equipment,
. are in need ~of replacement; and ~ ~ - ~ .
WHEREAS, maintenance costs. for these items have .increased as equipment
depreciated; and ~ -
'~ WHEREAS, staff has requested leasing financing proposals to obtain a'funding ~ -
source for replacement of these vehicles; and
WHEREAS,{ due to the continuous- changes in interest rates, the .interest iates
previously quoted may no longer be. in effect; and
WHEREAS, the Lynwood City Council desires to obtain a financing structure
for the replacement of vehicles and equipment that. is most beneficial to the City of Lynwood. ~ :
~r ~ ~ nw i oun it ,f f L n ;
1 ~,. NOW, THEREFORE, the Ly ood C ty C c o the. Crty o y ,wood does
:. hereby find, `order, and resolve as follows:
Section 1. The City Manager .is authorized to process and execute the necessary.
documents to obtain a.financing structure that is -most beneficial to the°City.
Section 2.. The City Manager and .Director of Finance is authorized , to negotiate the
most favorable terms and conditions possible under the lease/purchase agreement.
Section 3. That the firm selected be brought back to the Lynwood City Council for
ratification. .. - ~ .
Section 4. That~the Lynwood City Council will approve and. authorize the execution of
the. Lease/Purchase Agreement.
Section 5. This resolution shall go into .effect immediately upon its adoption.
..
.PASSED, APPROVED AND ADOPTED this 7th day of March. 2000:
~._
LOUIS .BYRD, Y R
F
ATTEST:
ANDREA L. HOOPER
City Clerk
APPROVED AS TO FORM:
ty Attorney
STATE OF CALIFORNIA )
SS.
COUNTY O,F LOS ANGELES , )
APPROVED AS TO CONTENT:
Ral .Davis III, City Manager
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 7th, day of March, 2000.
AYES:COUNCILMEN REA, REYES, RICHAROS, SANCHEZ,BYRD
NOES: ~ NONE
ABSENT: NONE
City Clerk, City of Lynwood
STATE OF CALIFORNIA - )
SS.
COUNTY OF LOS ANGELES )
. . .
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. 2000.32 on file in my office and that said
resolution was adopted on the date and by the vote therein stated.
Dated this 7th day of March, 2000.
City Clerk
resoluti/resobp2