HomeMy WebLinkAbout154 - 11/20/1984 - AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AMENDMENT TO THE LEASE AGREEMENT WITH MERIT FINANCIAL A
ORDINANCE NO. 154 , 1984
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY MANAGER TO ENTER INTO
AN AMENDMENT TO THE LEASE AGREEMENT WITH
MERIT FINANCIAL CORPORATION FOR THE
LEASE PURCHASE OF A PICKUP TRUCK WITH
CREW CAB FOR SURVEYORS
WHEREAS, the Department of Public Works needs to replace one of two
trucks used by City survey crews ; and
WHEREAS, said truck was originally scheduled for replacement in 1985;
and
WHEREAS, numerous breakdowns of this vehicle and subsequent impact on
the productivity of the survey crews have created the necessity of ac-
celerating replacement into 1984; and
WHEREAS, the City Council adopted Ordinance No. 41, 1982 authorizing
the City Manager to enter into an equipment lease agreement with Merit
Financial Corporation; and
WHEREAS, a replacement pickup truck with crew cab and necessary
equipment can be obtained by amendment to the existing lease purchase
agreement with Merit Financial Corporation ; and
WHEREAS, the estimated cost of this replacement is Ten Thousand Six
Hundred Eighty-Nine and 62/100 Dollars ($10,689.62) to be repaid over a
period of five (5) years at an interest rate of eight and six hundred
eighty-nine thousandths percent (8.689%) ; and
WHEREAS funds are available to meet the terms f the amendment t h> etem o met to
Lease Agreement.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager be, and he hereby is, authorized to enter
into an amendment to the Lease Agreement with Merit Financial Corporation
for the lease purchase of a pickup truck with crew cab and necessary
equipment for a price not to exceed Ten Thousand Six Hundred Eighty-Nine
and 62/100 Dollars ($10,689.62) to be repaid over a period of five (5)
years at an interest rate of eight and six hundred and eighty-nine thou-
sandths percent (8.689%) .
Introduced, considered favorably on first reading and ordered pub-
lished this 16th day of October, A.D. 1984, and to be presented for final
passage on the 20th day of November, A.D. 1984.
ayor
ATTEST:
ityG Ulerk
Passed and adopted on final reading this 20th day of November , A.D.
1984.
Mayor
ATTEST:
City Clerk
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