Resolution 2015-11 - Laserfiche WebLink

Home Browse Search

RESOLUTION NO. 11 SERIES 2015 A RESOLUTION APPROVING A LEASE AGREEMENT BY AND BETWEEN THE CITY OF LOUISVILLE AND WELLS FARGO FINANCIAL LEASING, INC. WHEREAS, the City of Louisville, Colorado ( "City ") is a home rule municipality and the City Council of the City (the "Council ") desires to lease golf cars and a picker vehicle (collectively, "golf cars ") for use at the Coal Creek Golf Course; and WHEREAS, the City and Wells Fargo Financial Leasing, Inc. (the "Lessor ") have reached an agreement on the terms by which the Lessor will lease the golf cars to the City; and WHEREAS, the Council hereby finds and determines that the execution of an Lease Agreement for the purpose of leasing the golf cars is appropriate and necessary to the functions and operations of the Coal Creek Golf Course; and WHEREAS, the Lease Agreement does not include any option to purchase the leased property and the Lease Agreement shall not constitute a general obligation indebtedness of the City within the meaning of the Constitution and laws of the State or City Charter; and WHEREAS, the Lease Agreement does not create a multiple -fiscal year obligation of the City and is expressly subject to annual appropriation and a City right of termination in the event of non - appropriation. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: 1. The proposed Lease Agreement between the City of Louisville and Wells Fargo Financial Leasing, Inc. for the lease of golf cars is hereby approved in essentially the same form as the copy of such Lease Agreement accompanying this Resolution. 2. The City's payment obligations under the Lease Agreement are current expenditures of the City, payable in the fiscal year for which funds are appropriated for the payment thereof. The City's obligations under the Lease Agreement shall be from year to year only and shall not constitute a multiple - fiscal year direct or indirect debt or other financial obligation of the City within the meaning of Article X, Section 20 of the Colorado Constitution. 3. The Mayor is authorized to execute such Lease Agreement, and is hereby further granted the authority to negotiate and approve such revisions to said Lease Agreement as the Mayor determines are necessary or desirable for the protection of the City, so long as the essential terms and conditions of the Lease Agreement are not altered. Resolution No, 11, Series 2015 Page 1 of 2