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RESOLUTION NO. 2022-49R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS APPROVING A MASTER LEASE -PURCHASE <br />FINANCING AGREEMENT WITH U.S. BANK GOVERNMENT LEASING <br />AND FINANCE, INC. FOR THE FINANCING OF A DIGGER DERRICK, <br />TWO BUCKET TRUCKS, AND A WIRE TENSIONER FOR USE BY THE <br />ELECTRIC UTILITY DIVISION OF THE UTILITIES DEPARTMENT TO <br />BE FINANCED IN THE AMOUNT OF $911,760.86, INCLUSIVE OF <br />INTEREST, FOR A SEVEN-YEAR TERM; AUTHORIZING THE CITY <br />MANAGER OR HER DESIGNEE TO EXECUTE ALL APPROPRIATE <br />DOCUMENTS ASSOCIATED WITH THIS TRANSACTION; AND <br />DECLARING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. A Master Lease Purchase Financing Agreement with U.S. Bank <br />Government Leasing and Finance, Inc. for the financing of a digger derrick, two bucket trucks, <br />and a wire tensioner for use by the Electric Utility Division of the Utilities Department to be <br />financed under the agreement in the amount of $911,760.86, inclusive of interest, for a seven-year <br />term is approved. <br />PART 2. The City Manager or her designee is authorized to execute the 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 <br />its passage. <br />ADOPTED on March 23, 2022. <br />ane gh�soi <br />Mayor <br />JamA tI s t: <br />k' m Coo( <br />Cit'y111lerkc <br />