Legislation # 07-0417 Enactment Number none
Type Resolution Effective Date none
Introduction Date 7/18/2007
Title A Resolution Authorizing the Execution and Delivery of an Equipment Lease/Purchase Agreement and Related Instruments, and Determining Other Matters in Connection Therewith (to Finance the Lease Purchase of Golf Carts)
 
Legislation History 07-0417
DateNotice Of ActionDescription
7/18/2007 Adopted
7/11/2007 Received By Clerk's Office
 
View Attachments 07-0417
FileTypeSizeDescription
Golf Cart Scan.pdf Contract 464K Equipment Lease - Purchase Agreement
 
Legislation Text 07-0417

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 07-0417

 

Enactment Number: -

 

A Resolution Authorizing the Execution and Delivery of an Equipment Lease/Purchase Agreement and Related Instruments, and Determining Other Matters in Connection Therewith (to Finance the Lease Purchase of Golf Carts)

 

RESOLUTION

WHEREAS, the governing body of City of Hampton, Virginia (the City) has determined that a true and very real need exists for the replacement of certain equipment, specifically a fleet of golf carts (the Equipment) described in the Equipment Lease/Purchase Agreement (the Agreement) presented at this meeting; and

 

WHEREAS, City has taken the necessary steps, including those relating to any applicable legal competitive procurement requirements, to arrange for the acquisition of the Equipment; and

 

WHEREAS, City proposes to enter into the Agreement with Wells Fargo Financial Leasing, Inc. substantially in the form presented at this meeting; and

 

WHEREAS, City reasonably states that it may issue tax-exempt obligations in the face amount of more than $10,000,000 during the current calendar year.

 

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Hampton, Virginia as follows:

 

1. It is hereby found and determined that the terms of the Agreement in the form presented to this meeting and incorporated in this resolution, are in the best interest of the City for the acquisition of the Equipment.

 

2. That the City Manager or his authorized designee is hereby authorized to execute, acknowledge and deliver the Agreement with any necessary changes insertions and omissions therein as may be approved by the officers who execute the Agreement, such approval to be conclusively evidenced by such execution and delivery of the Agreement. The Clerk of Council or other officer of the City who shall have the power to do so is hereby authorized to attest to same; and

 

3. The proper officers of the City be, and each of them hereby is, authorized and directed to execute and deliver any and all papers, instruments, opinions certificates, affidavits and other documents and to do or cause to be done any and all other acts and things necessary or proper for carrying out this resolution and the Agreement.

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on July 18, 2007.

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council