19900626 r-90-24aRESOLUTION NO.
R-90-24A
FOAM TRUCK LEASE/PURCHASE
WHEREAS, the City is entering a State and Municipal
Lease/Purchase Agreement ("Lease"), for the purpose of purchas-
ing a fire department foam truck, dated June 29, 1990, with
Citicorp North America, Inc.;
WHEREAS, the City has carefully reviewed its financing
requirements for the current calendar year and reasonably
expects that it will not issue more than ten million dollars
($10,000,000) of tax-exempt obligations during the calendar
year;
NOW, THEREFORE, BE IT RESOLVED, that the City be, and
hereby is, authorized to enter into the Lease with Citicorp
North America, Inc., for a period of 60 months, subject to the
terms and conditions of the lease as set forth herein, and be
it further
RESOLVED, that the Director of Finance be, and hereby is,
authorized, empowered and directed to sign on its behalf the
Lease and any addenda, schedules, notes, UCC financing state-
ments or other instruments issued under the provision of the
Lease and any other instrument or document which may be
necessary or expedient in connection with agreement upon or
fulfillment of the provisions of the Lease.
RESOLVED, that the City shall not designate more than ten
million dollars ($10,000,000) of tax-exempt obligations during
the current calendar year as qualified tax-exempt obligations
and the City, together with its subordinate entities, does not
reasonably expect to issue more than ten million dollars
($10,000,000) of tax-exempt obligations during the current
calendar year.
Adopted this 26th day of June
, 1990.
ATTEST: