HomeMy WebLinkAboutRES-91-5462 (LEASE PURCHASE/BANC ONE)RESOLUTION NO. 91-5462
A RESOLUTION OF THE CITY OF HERMOSA BEACH, CALIFORNIA
AUTHORIZING A LEASH PURCHASE AGREEMENT WITH BANC ONE
LEASING CORPORATION AND DESIGNATION OF THE LEASE AS A
QUALIFIED TAX-EXEMPT OBLIGATION
WHEREAS, The City of Hermosa Beach, California has determined
that a true and very real need exists for the acquisition of the
Police vehicles described in the Lease Agreement with Banc One
Leasing Corporation and that the use of the property is essential
to the proper, efficient, and economic operation of the Police
Department; and
WHEREAS, City has taken the necessary steps, including any
legal bidding requirements, under applicable law to arrange for
the acquisition of such property under said Lease Agreement; and
,%so/ WHEREAS, City hereby designates the Lease Agreement as a
"qualified tax-exempt obligation" pursuant to and for purposes of
Section 265 (b) (3 ) of the Internal Revenue Code of 1986;
NOW, THEREFORE BE IT RESOLVED, that the terms of said Lease
Agreement are in the best interests of City and the City Council
designates the Mayor of the City of Hermosa Beach to execute and
deliver, and to witness or attest the Lease Agreement and any
related documents necessary to the consummation of the
transactions comtemplated by the Lease Agreement.
R 0 1
;10 YTIO 110 v
f
rae---1 70ir "r 'c-7! 1,
L!
r rA
jj,
- - -r: .- :1 -. .. . " ( d
r -v,
.,A ..J
C, j-
C, e
E t
D rs.
fr. ;;sro 9 -
a rse, t3r! j i.-,
ji-
goi k.`:
-.:;0 FIX
�.a 5 fT
er!,l 11)J
•
f
rae---1 70ir "r 'c-7! 1,
L!
r rA
jj,
- - -r: .- :1 -. .. . " ( d
r -v,
.,A ..J
C, j-
C, e
PASSED, APPROVED AND ADOPTED THIS25th, day of June , 1991.
ATTEST:
City_ Clerk
APPROVED AS TO FORM:
e4a6fA= L (/04e
City Attorney
`■r/
M
&"0-10
PRESIDENT of the City Council and MAYOR
of the City of Hermosa Beach, California
-2-
_i. s') .1 t s �� ���� �- •- C.�r.J..�l �.i��+�` :.�s`�� r�l�� ���lt�l�;.''i_�3. � �. s '�j�
•� r
Wit. �`.: la l'tI j i7 !^l. ✓l;:.f , �I J.r JJ qff: to 1. tit•, Ql P{0,P,
? 9H aQ `V��.�.1...' _7-:±..J 1
r' tw+f++ a•
yj
. M., o `3 .(J� ••: Pe_s
_t
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES }
CITY OF HERMOSA BEACH )
I, Naoma Valdes, Deputy City Clerk of the City
Council of the City of Hermosa Beach, California, do hereby
certify that the foregoing Resolution No. 91-5462 was duly and
regularly passed, approved and adopted by the City Council
of the City of Hermosa Beach at a Regular meeting of said
Council at the regular meeting place thereof on June 25,
1991.
l..►J The vote was as follows:
AYES: Creighton, Essertier, Wiemans, Mayor Midstokke
NOES: -None
ABSENT: Sheldon
ABSTAIN: None
DATED: June 27, 1991
JIF )tz., a
Deputy City Clerk