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<br />S~C:djg-c 2/2/83 <br /> <br />ORIGINAL <br />FEB 7 1983 <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. <br /> <br />9300 <br /> <br />RESOLUTION APPROVING LEASE (WITH PURCHASE OPTION) OF FIRE <br />TRUCK; AND AUTHORIZING EXECUTION OF DOCUMENTS PERTAINING <br />THERETO <br /> <br />WHEREAS, pursuant to Resolution No. 9028, adopted December <br /> <br />21, 1981, this Council awarded a contract for the furnishing of a <br /> <br />replacement fire truck to Van Pelt Fire Trucks, Oakdale, Cali- <br /> <br />fornia; and <br /> <br />WHEREAS, pursuant to Resolution No. 9028 this Council further <br /> <br />determined that financing said equipment from financial <br /> <br />institutions for a lease with option to purchase may be more cost <br /> <br />advantageous then direct purchase, and authorized the Director of <br /> <br />Finance to solicit proposals for the tax-exempt lease-purchase <br /> <br />financing of said equipment; and <br /> <br />WHEREAS, pursuant to said resolution, the Director of Finance <br /> <br />has solicited proposals from several financing institutions for a <br /> <br />lease with an option to purchase said equipment; and <br /> <br />WHEREAS, the proposal of FMC Corporation, Oakdale, Cali- <br /> <br />fornia for 8 one year rental terms with option to purchase said <br /> <br />equipment thereunder at 8-~ percent simple interest, is the lowest <br /> <br />and best proposal; and <br /> <br />WHEREAS, this Council desires to accept such proposal and to <br /> <br />authorize execution of all necessary documents (subject to <br /> <br />approval of the City Attorney as to form) to perfect the <br /> <br />9300 <br />