R-2012-159-2012-11-12 RESOLUTION NO. R2012-159
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS, AWARDING A LEASE/PURCHASE BID FOR THE PURCHASE OF
CERTAIN CAPITAL EQUIPMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That the City opened bids for lease/purchase financing of certain
capital equipment, and such bids have been reviewed and tabulated.
Section 2. That the City Council hereby awards the bid to Chase Equipment
Finance, to finance up to $1,179,413.39 at a fixed rate of 1 .29% for seven (7) years.
Section 3. The City Manager or his designee is hereby authorized to execute any
necessary documents for the Lease/Purchase of certain capital equipment.
PASSED, APPROVED and ADOPTED this the 12th day of November, A.D., 2012.
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TOM REID
MAYOR
ATTEST:
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APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY