HomeMy WebLinkAboutReso 92-038 - Rescinding Reso 91-492 authorizing a financing agreement between the COR & the Redding Bank of Commerce approving use of 1991 Equipment Financing proceeds to Purchase offset printing press RESOLUTION NO. �2-3f
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
RESCINDING RESOLUTION NO. 91-492 AUTHORIZING A FINANCING
AGREEMENT BETWEEN THE CITY OF REDDING AND THE REDDING
BANK OF COMMERCE APPROVING THE USE OF 1991 EQUIPMENT
FINANCING PROCEEDS TO PURCHASE OFFSET PRINTING PRESS.
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WHEREAS, on November 5, 1991, City Council approved the purchase of
an Offset Printing Press for the Print Shop, Model No. 3650, from Multigraphics
Corporation; and
iI WHEREAS, on November 19, 1991, City Council authorized the execution
and delivery of a lease/purchase agreement for the offset printing press to be
entered into between the City of Redding and the Redding Bank of Commerce; and
it WHEREAS, it having been determined that entering into the
lease/purchase between the City of Redding and the Redding Bank of Commerce is
no longer in the City's best interests and/or appropriate for the purchase of the
Offset Printing Press for the Print Shop;
NOW, THEREFORE, IT IS RESOLVED that City Council hereby rescinds
Resolution No. 91-492 and approves the use of 1991 Equipment Financing proceeds
to purchase the offset printing press; and the City Clerk is hereby authorized
to affix the official seal of the City to the documentation and attest the same.
I HEREBY CERTIFY that the foregoing Resolution was introduced and
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read at a regular meeting of the City Council of the City of Redding on the 4th
day of February , 1992 , and was duly adopted at said meeting by the
following vote:
AYES: COUNCIL MEMBERS: Arness, Fulton, Moss & Dahl
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
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MIKE DAHL, Mayor
ATTEST: FORM APPROVAL:
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CONNIE STROMIAYER, City er ALL A. HAYS, C ty torney
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