R90-09CITY OF KENNEDALE
RESOLUTION 90 -9
A RESOLUTION REGARDING A LEASE PURCHASE AGREEMENT FOR THE
PURPOSE OF PROCURING A FIRE TRUCK AND EQUIPMENT.
WHEREAS, The City of Kennedale ( "City ") desires to enter into that
certain Lease - Purchase Agreement dated as of October 24, 1990 by
and between the City and Consolidated Financial Resources, Inc. for
the purpose of procuring a Fire Truck and Equipment. The City
desires to designate this Agreement as a "qualified tax exempt
obligation" of the City for the purposes of Section 265 (b)(3) of
the Internal Revenue Code of 1986, as amended. The City desires
to designate Steve Radakovich, Mayor and Linda Jones, City
Secretary, as authorized signers of the Agreement.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
KENNEDALE:
Section 1. That the City enter into a Lease Purchase
Agreement with Consolidated Financial Resources, Inc, for the
purpose of procuring a Fire Truck and Equipment.
Section 2. That the Lease Purchase Agreement dated as of
October 24, 1990, by and between the City and Consolidated
Financial Resources, Inc, is designated by the City as a "qualified
tax exempt obligation" for the purposes of Section 265 (b)(3) of
the Internal Revenue Code of 1986, as amended.
Section 3. That the City designates Steve Radakovich,
Mayor and Linda Jones, City Secretary, as authorized signers of the
Lease Purchase Agreement dated as of October 24, 1990, by and
between the City and Consolidated Financial Resources, Inc.
PASSED AND APPROVED by the Council of the City of Kennedale in a
meeting held on the 18th day of October, 1990.
eve Radakovich �—
Mayor
ATTEST:
City ecretary $