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RESOLUTION 2010 -67R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING A THREE YEAR GOVERNMENTAL EQUIPMENT LEASE - PURCHASE AGREEMENT WITH CATERPILLAR FINANCIAL SERVICES CORPORATION FOR NECESSARY FUNDING FOR THE PURCHASE OF TWO GENERATORS; APPROVING THE PURCHASE OF TWO GENERATORS FROM HOLT POWER SYSTEMS FOR THE PUBLIC SERVICES DEPARTMENT, WASTEWATER DIVISION IN THE TOTAL AMOUNT OF $103,840.89 THROUGH THE TEXAS LOCAL GOVERNMENT PURCHASING COOPERATIVE ( "BUYBOARD "); AUTHORIZING THE CITY MANAGER TO EXECUTE THE LEASE PURCHASE AGREEMENT WITH CATERPILLAR FINANCIAL SERVICES CORPORATION ON BEHALF OF THE CITY; AUTHORIZING THE CITY MANAGER TO EXECUTE THE APPROPRIATE PURCHASING DOCUMENTS WITH HOLT POWER SYSTEMS ON BEHALF OF THE CITY AND DECLARING AN EFFECTIVE DATE. RECITALS: • 1. The City wishes to purchase two generators as described in the attached quote from Holt Power Systems and the Governmental Equipment Lease - Purchase Agreement from Caterpillar Financial Services Corporation through the Buyboard in the total amount of $103,840.89 2. The City has taken the requisite steps, including those related to the applicable legal procurement requirements to arrange for the purchase of the Generators. 3. The City finds that the execution of the Governmental Equipment Lease Purchase Agreement with Caterpillar Financial Services Corporation for a term of three years for acquiring the Generators is appropriate and necessary for the function and operation of City business. 4. The City wishes to purchase the Generators from Holt Power Systems through the Buyboard. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The purchase of two generators from Holt Power Systems through the Texas Local Government Purchasing Cooperative in a total amount of $103,840.89 is approved. • 1