Res 2021-120/approving an addendum to the Master Lease-Purchase Financing Agreement with Santander, Inc. that adds three mowers for use by the Parks and Recreation Department to be financed under the agreement in the amount of $143,178.50

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RESOLUTION NO.2021-120R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS APPROVING AN ADDENDUM TO THE MASTER LEASE -PURCHASE FINANCING AGREEMENT WITH SANTANDER, INC. TO ADD THREE MOWERS FOR USE BY THE PARKS AND RECREATION DEPARTMENT TO BE FINANCED UNDER THE AGREEMENT IN THE AMOUNT OF $143,178.50, INCLUSIVE OF INTEREST, FOR A FIVE-YEAR TERM; AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO EXECUTE ALL APPROPRIATE DOCUMENTS ASSOCIATED WITH THIS TRANSACTION; AND DECLARING AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The Addendum to the Master Lease Purchase Financing Agreement (the "Addendum") with Santander, Inc. adding three mowers for use by the Parks and Recreation Department to be financed under the agreement in the amount of $143,178.50, inclusive of interest, for a five-year term is approved. PART 2. The City Manager or his designee is authorized to execute the appropriate documents associated with this transaction on behalf of the City. PART 3. This resolution shall be in full force and effect immediately from and after its passage. ADOPTED on July 6, 2021. eAl ane Hu hson 14t� g Mayor Attest: �,ammyj. Cook nterirnty Clerk