HomeMy WebLinkAboutReso 91-492 - Authorize execution & delivery of a Lease/Purchase agreement for an offset printing press, between COR & The Redding Bank of Commerce RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE EXECUTION AND DELIVERY OF A LEASE/PURCHASE
AGREEMENT FOR AN OFFSET PRINTING PRESS, NOT TO EXCEED
$20,600.00, TO BE ENTERED INTO BETWEEN THE CITY OF REDDING AND
THE REDDING BANK OF COMMERCE.
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
WHEREAS, many avenues of financing were explored, and it was found that the
Redding Bank of Commerce offered the most attractive rate; and
WHEREAS, it is the recommendation of staff that Council authorizing financing the
lease/purchase of the Offset Printing Press through the Redding Bank of Commerce;
NOW, THEREFORE, IT IS HEREBY RESOLVED that the City Council of the City of
Redding hereby authorizes the City Manager to execute, acknowledge, and deliver a
lease/purchase agreement through the Redding Bank of Commerce, not to exceed
$20,600.00, and any additional and subsequent documentation relating thereto, upon
approval thereof by the City Attorney; 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 read at a
regular meeting of the City Council of the City of Redding on the 19th day of November,
1991, and was duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Arness, Buffuun, Noss & Dahl
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Fulton
ABSTAIN: COUNCIL MEMBERS: None
MIKE DAHL, Mayor
City of Redding
i
ATTEST: FORM PPROVED:
.Coir !
ETHEL A. NICHOLS, City Clerk R ALL A. HAYS, City Attorney
�N
t
Rescinded by Resolution No. 92-38