Ordinance 1987-929 - Laserfiche WebLink

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'" ORDINANCE NO. ~ AN ORDINANCE AUTHORIZING THAT CERTAIN LEASE AND AGREEMENT BETWEEN FMC CORPORATION AS LESSOR, AND THE CITY OF LOUISVILLE, COLORADO, AS LESSEE, IN THE AGGREGATE PRINCIPAL AMOUNT OF $74,234.38 AND IN CONNECTION WITH PURCHASE OF A STREET SWEEPER PROVIDING FOR LEASE PAYMENTS; AND PRESCRIBING OTHER DETAILS IN CONNECTION THEREWITH. WHEREAS, the City of Louisville, Colorado, is a political subdivision of the State of Colorado and statutory City organized and existing under the Constitution and laws of the State of Colorado (the "City"); and, WHEREAS, pursuant to Section 31-15-801, C.R.S. , the City is authorized to enter into long-term leasehold agreements with an option to purchase; and, WHEREAS, the City Council of the City (the "Council" ) hereby finds and determines that the lease with the option to purchase certain equipment is appropriate and necessary for performing the authorized functions of the City and is in furtherance of the purposes of the City and the best interest of the residents thereof; and, WHEREAS, the Lease and Agreement shall not constitute a general obligation indebtedness of the City within the meaning of the Constitution and laws of the State of Colorado. NOW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. That the forms, terms and provisions of the Equipment Lease Purchase Agreement, be and are hereby approved in substantially the form set forth in the documents presently before the Council. That the City, acting through the Mayor, is hereby authorized and directed to enter into and execute and the Agreement in substantially the form set forth in the document presently before the Council, and the City Clerk is authorized and directed to affix the City's seal to and to attest and countersign such document, which document shall be available for public inspection at the offices of the City Clerk. That the Mayor and all other appropriate officers of the City are hereby authorized and directed to sign, file, or cause to be signed or filed, or approve, accept or concur in all necessary or appropriate documents for consummating the transactions contemplated by this Ordinance and the Agreement. That the City's obligation under said Agreement shall be annually renewable by the City and expressly subject to annual appropriation by the Council, and that such obligation under said Agreement shall not constitute a general obligation of the City or an indebtedness within the meaning of the Constitution and laws of the State.