1184RESOLUTION NO. 1184
A RESOLUTION AUTHORIZING THE CITY OF MOSES LAKE TO ENTER A
LEASE/PURCHASE AGREEMENT
RECITALS:
1.The City of Moses Lake is interested in purchasing the following:
a.one Thermo-Lay Asphalt Patching Unit
b.one Ecolotec Street Sweeper
2.The City of Moses Lake is interested in financing the purchase of the equip
ment through a lease/purchase agreement.
3.Rauscher Pierce Refsnes Leasing,Inc.has offered financing to the City of
Moses Lake for purchasing the above mentioned equipment according to the
following terms:
a.Interest shall accrue at 10.25%per annum with the aggregate cost equal
ing $139,950 payable over a 5 year period.
b.The city has the right to terminate and cancel the agreement and the
city's obligations thereunder on each December 11 during the term of the
agreement.
c.The city has the right to acquire such asphalt patching unit and street
sweeper at such time and on such terms as set forth in the agreement.
IT IS RESOLVED:
1.The City of Moses Lake enter into the lease/purchase agreement which will be
dated May 11,1984 in the form presented by Rauscher Pierce Refsnes Leasing,
Inc.for the acquisition and possession of the above mentioned equipment upon
the above mentioned terms.
2.The City Manager is authorized,empowered,and directed to execute such docu
ments and to take such action as may be necessary or appropriate to consumate
the above described transaction and to perform fully and timely all of the
city's agreements and obligations in connection with the lease/purchase.
Adopted by the City Council on April 10,1984.
ATTEST AND CERTIFICATE:'
The undersigned being duly elected and acting Clerk of the City Council of the City
of Moses Lake,Washington hereby certifies that the foregoing resolution was duly
adopted by a vote of 7 in favor,0 against,and 0 abstaining at a meeting of said
City Council duly called and held on April 10,1984,at which meeting a quorum was
present and acting throughout,that such resolution has not been rescinded,amended,
or modified in any respect subsequent thereto and is in full force and effect as of
the date hereof.
In witness whereof,the undersigned has executed this Certificate on April 12,
1984.
fllJh>City Clerk