R2009-162 - 2009-10-12RESOLUTION NO. R2009-162
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS, AWARDING A BID FOR LEASE/PURCHASE FINANCING.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That the City opened bids for lease/purchase financing for the
purchase of certain City equipment, and such bids have been reviewed and tabulated.
Section 2. That the City Council hereby awards the bid to Bank of America at a
seven (7) year fixed interest rate of 3.580%.
Section 3. The City Manager or his designee is hereby authorized to execute any
necessary documents required to complete the lease/purchase finance transaction.
PASSED, APPROVED and ADOPTED this the 12th day of October, A.D., 2009.
TOM REID
MAYOR
ATTEST:
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY