HomeMy WebLinkAboutRES 86-44RESOLUTION NO.86-44
A RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF
APACHE JUNCTION,ARIZONA,ENTERING INTO A LEASE PURCHASE
AGREEMENT FOR AQUISITION OF THE USE AND POSSESSION OF AN
IBM SYSTEM 36 COMPUTER SYSTEM .
BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF APACHE
JUNCTION,ARIZONA,AS FOLLOWS:
WHEREAS,that this City enter into a Lease Purchase Agreement,dated
as of the 19th day of December,1986,in the form presented to this meeting,
for acquisition of the use and possession of an IBM System 36 Computer System
described therein for an aggregate cost (including return on investment at the
rate of 9.0%per annum)of $62,978.04,payable over a period of five (5)years
in accordance with the terms of such Agreement,subject to the right of the
City to terminate and cancel such Agreement and the City's obligations thereunder
on each June 19th during the term of the Agreement and subject to the right of
the City to acquire such computer system at such times and on such terms as set
forth i n the Agreement;and
WHEREAS,that the appropriate officers of the City are authorized,
empowered and directed to take such actions and execute such documents as may be
necessary or appropriate to consummate the above described transaction and to
perform fully and timely all of the City's agreements and obligations in
connection therewith.
PASSED AND ADOPTED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF APACHE
JUNCTION,ARIZONA,THIS 2ND DAY OF DECEMBER ,1986.
ATTEST:
SIGNED AND ATTESTED TO THIS 4TH DAY OF DECEMBER ,1986.
KATHLEEN CONNELLY,ulty Ulerk
APPROVED AS TO FORM:
DAVID 11 1 C V 111411 CND
.MI_LAMHULM
City Attorney
NORMAN S.HILL ----- -
Mayor