Resolution No. 5803
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RESOLUTION NO. 5803
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A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF VERNON APPROVING AND AUTHORIZING
THE EXECUTION OF THE FOLLOWING DOCUMENTS
RESPECTING THE LEASE OF ONE HI-RANGER
BUCKET TRUCK FROM BAKER EQUIPMENT COMPANY:
( i) COMMITMENT LETTER AGREEMENT; ( i i)
ACKNOWLEDGMENT OF NOTICE OF ASSIGNMENT;
(iii) LEASE INSURANCE AUTHORIZATION
LETTER; (iv) CITY ATTORNEY OPINION LETTER;
AND (V) UCC-1 FORM
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WHEREAS, the City of Vernon wishes to lease one new Hi-
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Ranger bucket truck from Baker Equipment Leasing Company, a
Division of JGB Industries, Inc. pursuant to an existing Master
Lease of Personal Property No. 44242 dated August 29, 1989,
which was approved by City Council Resolution No. 5681 on
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October 17, 1989; and
WHEREAS, the City of Vernon will pay approximately
$2,323.68 per month for forty-eight (48) months during the lease
and will be allowed to purchase the equipment for $1.00 at the
end of that period.
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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 recitals contained
hereinabove are true and correct.
SECTION 2: The City Council of the City of Vernon
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hereby approves the Commitment Letter Agreement, Acknowledgment
of Notice of Assignment, Lease Insurance Authorization Letter,
City Attorney Opinion Letter and UCC-1 Form, copies of which
have been presented to the City Council concurrently with this
resolution and the City council hereby orders said documents to
be received and filed by the City Clerk.
SECTION 3: The City Council of the City of Vernon
hereby authorizes the Mayor and the City Clerk to execute said
Commitment Letter Agreement and all applicable supporting
documents for, and on behalf of, the City of Vernon.
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certify to the passage of this resolution and thereupon and
SECTION 4: The City Clerk of the City of Vernon shall
thereafter the same shall be in full force and effect.
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ATT;Y
BRUCE V.
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APPROVED AND ADOPTED this 18th day of September, 1990.
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MALKENHORST, City Clerk
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-- LE.ONIS C. MALB. G, Ma r
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