HomeMy WebLinkAboutReso 91-093 - Authorize City Mgr to negotiate a lease/purchase agreement for the financing of 1 High Density Landfill Compactor to be purchased from SMA Equipment Inc RESOLUTION NO. tel_
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDI14G
AUTHORIZING THE CITY MANAGER TO NEGOTIATE A LEASE/PURCHASE
AGREEMENT FOR THE FINANCING OF ONE HIGH DENSITY LANDFILL
COMPACTOR TO BE PURCHASED FROM SMA EQUIPMENT, INC. IN THE
AMOUNT OF $261 , 820 . 00 , AND FURTHER AUTHORIZING THE CITY
MANAGER TO EXECUTE ALL NECESSARY DOCUMENTATION WHEN AVAILABLE.
WHEREAS, the City Council called for bids for one high density
landfill compactor in Bid Schedule No. 2435 ; bid opening held
February 12, 1991; and
WHEREAS, SMA Equipment, Inc. was awarded the low bid in the
amount of $261 , 820 . 00 ; and
WHEREAS, it is necessary to secure financing of the high
density landfill compactor.
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of
the City of Redding as follows:
1 . That the foregoing recitals are true and correct.
2 . That the low bid received from SMA Equipment, Inc. for
one high density landfill compactor in the amount of $261,820 . 00 is
hereby accepted.
3 . That the City Manager is hereby authorized and directed
to enter into negotiations for a Lease/Purchase Agreement with one
or more financing agents, and to secure favorable financing on
behalf of the City of Redding, not to exceed budgeted funds.
4 . That the City Manager is further authorized and directed
to all necessary documentation when available.
I HEREBY CERTIFY that the foregoing Resolution was introduced
and read at a regular meeting of the City Council of the City of
Redding on the 5th day of March , 1991, and was duly adopted
at said meeting by the following vote of Council:
AYES: COUNCIL MEMBERS: Arness, Dahl , Fulton, Moss & Buffum
NOES- COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
N NCY FFUM, t or
City f Redding
ATTEST:
ETHEL A. NICHOLS, City Clerk
FORM APPROVED:
RAdDALT- A. HAYS,
City Attorney
2