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RESOLUTION 2016-54R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS, APPROVING A VEHICLE TITLING ADDENDUM <br /> WHICH AMENDS THE LEASE-PURCHASE AGREEMENT BETWEEN <br /> THE CITY AND U.S. BANCORP GOVERNMENT LEASING AND <br /> FINANCE, INC., TO ADD THE LEASE-PURCHASE OF EIGHTEEN 2016 <br /> FORD INTERCEPTOR UTILITY VEHICLES FOR THE POLICE <br /> DEPARTMENT IN THE TOTAL AMOUNT OF $488,868.36 INCLUSIVE <br /> OF FINANCING COSTS; AUTHORIZING THE CITY MANAGER OR <br /> HIS DESIGNEE TO EXECUTE ALL APPROPRIATE DOCUMENTS <br /> ASSOCIATED WITH THIS TRANSACTION; AND DECLARING AN <br /> EFFECTIVE DATE. <br /> RECITALS: <br /> 1. On March 15, 2016 the City approved a Master Lease-Purchase Agreement with <br /> Bancorp Government Leasing and Finance, Inc. (the "Agreement") for the lease purchase of a <br /> Truck Mounted Gradall Excavator. <br /> 2. It is necessary to amend the Agreement in order to procure eighteen (18) Ford <br /> Interceptor Utility Vehicles in the total amount of$488,868.36 inclusive of financing costs. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS: <br /> PART 1. The attached Vehicle Titling Addendum which amends the Master Lease <br /> Purchase Agreement between the City of San Marcos and U.S. Bancorp Government Leasing and <br /> Finance, Inc., in the total amount of$488,868.36, inclusive of financing costs is approved. <br /> PART 2. The City Manager or his designee is authorized to execute all appropriate <br /> documents associated with this transaction on behalf of the City. <br /> PART 3. This Resolution shall be in full force and effect immediately from and after its <br /> passage. <br /> ADOPTED this the 19th day of April, 2016. <br /> P aniel GueI <br /> Mayor <br /> 1 <br />