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<br />'\ <br /> <br />DES:yc:2/20/81 <br /> <br />OR I G , ~\, A L <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />8799 <br /> <br />FEB 2 3 1981 <br /> <br />RESOLUTION APPROVING LEASE (WITH PURCHASE OPTION) OF <br />DATA PROCESSING EQUIPMENT, AND AUTHORIZING EXECUTION <br />OF DOCUMENTS PERTAINING THERETO <br /> <br />WHEREAS, pursuant to Resolution No. 8779, adopted January 26, <br /> <br />1981, this Council approved and authorized execution of an agreement <br /> <br />with Computer Resources Management Corporation ("CRMC") for the <br /> <br />design, furnishing and installation of an integrated on-line <br /> <br />municipal information system; and <br /> <br />WHEREAS, pursuant to the proposal and bid submitted by CRMC <br /> <br />(which proposal and bid are dated June 30, 1980, and incorporated <br /> <br />by reference into the aforesaid agreementJ acquisition of the <br /> <br />data processing "hardware" equipment as described in the bid <br /> <br />documents could, at the option of the City, be by purchase, lease, <br /> <br />or lease-purchase; and <br /> <br />WHEREAS, the Director of Finance has determined that leasing <br /> <br />said equipment with an option to purchase is more economical than <br /> <br />direct purchase, and has therefore solicited proposals from financial <br /> <br />institutions for a lease with an option to purchase said equipment; <br /> <br />and <br /> <br />WHEREAS, the proposal of First Continental Leasing Corporation, <br /> <br />Dallas, Texas, for a five-year lease with option to purchase said <br /> <br />equipment thereunder at 9.95 percent interest, payable in five <br /> <br />annual installments of Fifty-two Thousand Eight Hundred Sixty-nine <br /> <br />and 44/100 Dollars ($52,869.44), is the lowest and best proposal; <br /> <br />and <br /> <br />WHEREAS, this Council desires to accept said proposal and to <br /> <br />authorize execution of all necessary documents (subject to approval <br /> <br />of the City Attorney as to form) to perfect the acquisition of <br /> <br />said equipment through lease-purchase arrangement in accordance <br /> <br />with the aforesaid proposal; <br /> <br />8799 <br />