R94 OFFICIAL C /TY
SECRETAR r'S COY
RESOLUTION # 94
WHEREAS, contingent upon the approval of the Attorney of City of Kennedale (the "City"), the City desires to enter
into that certain Lease - Purchase Agreement, as authorized by the Public Property Finance Act (Subchapter A,
Chapter 271, Local Government Code), dated as of April 14, 1999, by and between the City and Consolidated
Financial Resources, Inc., for the purpose of financing a Fire Truck. 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 levy, as authorized by the Public Property Finance Act (Subchapter A,
Chapter 271, Local Government Code), for each year in which "Lease Payments" (as defined in the Lease - Purchase
Agreement) come due, an ad valorem tax within the limits prescribed by law that is sufficient (together with other
funds lawfully available to the City and applied to the purpose) to provide timely payment of the Lease Payments
payable during such year. The City desires to designate Mark Wright, Mayor, and Ted Rowe, City Manager, as
authorized signers of the Agreement.
NOW THEREFORE, BE IT RESOLVED BY CITY OF KENNEDALE:
Section 1. That the City will enter into a Lease Purchase Agreement as authorized by the Public
Property Finance Act (Subchapter A, Chapter 271, Local Government Code), with Consolidated Financial
Resources, Inc., for the purpose of fmancing a Fire Truck.
Section 2. That the Lease Purchase Agreement dated as of April 14, 1999, 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, for each year in which Lease Payments come due, there is hereby levied, as
authorized by the Public Property Finance Act (Subchapter A, Chapter 271, Local Government Code), an ad valorem
tax within the limits prescribed by law that is sufficient (together with other funds lawfully available to the City and
applied to the purpose) to provide timely payment of the Lease Payments payable during such year.
Section 4. That the City will designate Mark Wright, Mayor, and Ted Rowe, City Manager, as
authorized signers of the Lease Purchase Agreement dated as of April 14, 1999, by and between the City and
Consolidated Financial Resources, Inc.
PASSED AND APPROVED by City of Kennedale on the 13 day of May , 1999.
• SIGNATURE: //it (4,
NAME: Mark S. Wright
(name typed or printed)
TITLE: Mayor
(title typed or printed)
ATTEST:
SIGNATURE: /� %
I
NAME: Ted Rowe
(name typed or printed)
TITLE: City Manager
(title typed or printed)
CERTIFICATE OF ACCEPTANCE OFFIC9AL CETY
SECRETARY'S COPY
Municipal Lease - Purchase Agreement (the "Agreement ")
By and Between
CONSOLIDATED FINANCIAL RESOURCES, INC. (Lessor)
and
CITY OF KENNEDALE (Lessee)
Dated as of: April 14, 1999
1. ACCEPTANCE: In accordance with the Agreement, Lessee hereby certifies that all of the Property described herein (i) has been
received by Lessee, (ii) has been thoroughly examined and inspected to the complete satisfaction of Lessee, (iii) has been found by Lessee to be
in good operating order, repair and condition, (iv) has been found to be of the size, design, quality, type and manufacture specified by Lessee,
(v) has been found to be and is wholly suitable for Lessee's purpose, and (vi) is hereby unconditionally accepted by Lessee, in the condition
received, for all purposes of the Agreement.
2. PROPERTY:
Fire Truck
3. USE: The primary use of the Property is as follows:
Fire Protection
4. PROPERTY LOCATION:
Fire Station
100 Clover Lane
Kennedale, Texas 76060
5. PAYMENTS: Invoicing shall be to the following address:
City of Kennedale
Attn: Accounts Payable
PO Box 268
Kennedale. Texas 76060
6. INSURANCE: Lessee certifies that property and liability insurance have been secured in accordance with the Agreement and
such coverage will be maintained in full force for the term of the Agreement. Lessor will be designated loss payee until Lessee is
notified, in writing, to substitute a new loss payee.
X Company insured
Elect to self - insure in accordance with Section 10 of the Agreement
7. In accordance with Section 6 of the Agreement, Lessee agrees to, at its own expense, service, repair and maintain the Property for the
term of the Agreement as follows:
Maintenance contract
X Elect to self - maintain
LESSEE` ITY OF KENNE
BY: I.A.)
M k Wright, Mayor
ACCEPTED the 14 day of May , 1999.