HomeMy WebLinkAbout056 - 05/15/1979 - AUTHORIZING THE CITY TO ENTER INTO A LEASE PURCHASE AGREEMENT FOR THE ACQUISITION OF CERTAIN BUSINES ORDINANCE NO 56 , 1979
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY TO ENTER INTO A LEASE PURCHASE
AGREEMENT FOR THE ACQUISITION OF CERTAIN BUSINESS EQUIPMENT
WHEREAS, for the past several years, the Municipal Library has been
utilizing two IBM copiers on a lease basis, and
WHEREAS, in connection with said leases, the City has accumulated a
number of "rental credits" which would permit the City to purchase these
copy machines at a greatly reduced rate, and
WHEREAS, the City is authorized, under the provisions of Part 8,
Chapter 15, Title 31 , C R S 1973, as amended, to acquire necessary equip-
ment and other property for its governmental and proprietary purposes under
the provisions of a long term rental or lease hold agreement with an option
to purchase such equipment, and
WHEREAS, in the considered opinion of the Council of the City of Fort
Collins, it is in the best interest of the City to acquire title to the
aforementioned copy machines, said machines being identified as IBM Copier
II , Serial #0534254 and #0553299 Utilizing the "rental credits" referred
to above, the City would be required to pay, respectively, the sum of SEVEN
THOUSAND FOUR AND 93/100 DOLLARS ($7,004 93) for one machine and SEVEN
THOUSAND EIGHT HUNDRED SIXTY-SEVEN AND 82/100 DOLLARS ($7,867 82) for the
other, all over a period of three (3) years, with the 1979 installment for
both machines being FOUR THOUSAND NINE HUNDRED FIFTY-SEVEN AND 51/100
DOLLARS ($4,957 51 )
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager and City Clerk be, and they hereby are,
authorized and directed to execute a Lease Purchase Agreement with Inter-
national Business Machines Corporation, pursuant to the statutes cited
above for the purpose of leasing two IBM Copier II machines over a thirty-
six (36) month period with an option to purchase said machines
Introduced, considered favorably on first reading and ordered pub-
lished this lst day of May, A D 1979, and to be presented for final
passage on the 15th day of May, A D 1979
( YA
T Mayor
City C erk
Passed and adopted on final reading this 15th day of May, A D
1979
ST Major
City C erk �j