Resolution No. 5681
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RESOLUTION NO. 5681
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF VERNON APPROVING AND AUTHORIZING
THE EXECUTION OF THE FOLLOWING DOCUMENTS
RESPECTING THE LEASE OF TELELECT DIGGER
DERRICK FROM BAKER EQUIPMENT LEASING
COMPANY: (i) COMMITMENT LETTER; (ii)
ACKNOWLEDGMENT OF NOTICE OF ASSIGNMENT;
(iii) MASTER LEASE; (iv) LEASE INSURANCE
AUTHORIZATION LETTER; (V) CITY ATTORNEY
OPINION LETTER; AND (vi) UCC-l FORM
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WHEREAS, the City of Vernon wishes to lease one new
Telelect 6000 Digger Derrick from Baker Equipment Leasing
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Company, a Division of JGB Industries, Inc. pursuant to a Master
Lease of Personal Property No: 44242 dated as of August 29,
1989; and
WHEREAS, the City of Vernon will pay approximately
$3,615.00 per month for 60 months during the lease and will be
allowed to purchase the equipment for $1.00 at the end of that
period.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF VERNON AS FOLLOWS:
SECTION 1: The City Council of the city of Vernon
hereby finds and determines that the recital contained
hereinabove is true and correct.
SECTION 2: The City Council of the City of Vernon
23 hereby approves the Commitment Letter, Acknowledgment of Notice
24 of Assignment, Master Lease, Lease Insurance Authorization
25 Letter, City Attorney opinion Letter and UCC-l Form, copies of
26 which have been presented to the City Council concurrently with
. 27 this resolution and the City Council hereby orders said
28 documents to be received and filed by the City Clerk.
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SECTION 3: The city council of the City of Vernon
hereby authorizes the Mayor and the city Clerk to execute said
documents for, and on behalf of, the City of Vernon. .
SECTION 4: The City Clerk of the City of Vernon shall
certify to the passage of this resolution and thereupon and
thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 17th day of October, 1989.
A~ /p~r
BRUCE V. MALKENHORST, City Clerk
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STATE OF CALIFORNIA )
)ss
COUNTY OF LOS ANGELES )
I, BRUCE V. MALKENHORST, City Clerk of the City of
Vernon, do hereby certify that the foregoing Resolution, being
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Resolution No. 5681, was duly adopted by the City Council of the
City of Vernon at a regular meeting of the city Council duly
held on Tuesday, October 17. 1989 and thereafter duly signed by
the Mayor of the city of Vernon.
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BRUCE V. MALKENHORST, City Clerk
(SEAL)
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