HomeMy Public PortalAbout2000.053 (03-21-00),r
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RESOLUTION NO._ 2000.53
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD~'
APPROVING THE SELECTION OF BANC ONE LEASING CORPORATION TO r
FINANCE THE. CITY'S CAPITAL EQUIPMENT PROGRAM.
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WHEREAS, a major portion of the City's fleet inventory is beyond thel ~
service life and is in need of replacement; and .
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WHEREAS, high maintenance costs, and questionable safety has ~
resulted due to the extended life of the vehicles and equipment; and . i
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WHEREAS, staff requested and received . proposals for thei l
lease/purchase for financing of City vehicles and equipment, and I'
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WHEREAS, the City Council at its March 7, 2000 meeting, authorized staffs i
to select a financing firm for the lease/purchase of City vehicles and equipment j
and negotiate favorable terms. ! i
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NOW, THEREFORE, the City Council of the City of Lynwood does. hereby
find, order and resolve as follows:
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Section .1. That the selection of Banc One Leasing Corporation is
approved. ~ ~ ;
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Section 2. That Banc , One .Leasing is authorized to process the
appropriate documents to finance approximately $1.6 million for the
lease/purchase of capital-equipment. ~ ~ ~'
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Section 3. This resolution shall take effect immediately upon its adoption.
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PASSED, APPROVED AND ADOPTED this 21st day of March 2000.
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L UIS BYRD, MAYO
ATTEST:
Andrea L. Hooper, City Clerk
APPROVED AS TO FORM:
Assistant City Attorney Glenn Ward Cal sada
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APPROVED AS TO CONTENT: !'
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Ra ~ .Davis III ~ I
City Manager ~ ~
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STATE OF CALIFORNIA )
SS.
COUNTY OF LOS ANGELES )
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 21ST day of March, 2000.
AYES: COUNCILMEN REA, REYES, RICHARDS, SANCHEZ, BYRD
NOES: NONE
ABSENT: NONE
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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. 2000.53 on file in my office and that said
resolution was adopted on the date and by the vote therein stated.
Dated this 21ST day of March, 2000.
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City Clerk
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