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56. <br /> <br />RESOLUTION NO. 2003- 27 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, AUTHORIZiNG THE EXECUTION AND <br />DELIVERY OF A LEASE-PURCHASE AGREEMENT AND <br />RELATED INSTRUMENTS BETWEEN THE CITY AND WELLS <br />FARGO BROKERAGE SERVICES, LLC TO PROVIDE FUNDiNG <br />FOR THE PURCHASE OF EQUIPMENT FOR THE FIRE <br />DEPARTMENT; DETERMINING OTHER MATTERS iN <br />CONNECTION THEREWITH; AND DECLARING AN EFFECTIVE <br />DATE. <br /> <br />RECITALS: <br /> <br /> I. The City Council of the City of San Marcos (the "City") has determined that a need exists <br />for the purchase o£equipment (the "Property") for the Fire Department as described in the attached <br />Master Lease-Purchase Agreement and related documents (the "Agreement") with Wells Fargo <br />Brokerage Services, LLC (the "Bank"). <br /> <br /> 2. The City has taken the necessary steps, including those relating to any applicable legal <br />procurement requirements, to arrange for the acquisition of the Property. <br /> <br /> 3. The City Council finds and determines that the execution of the Agreement in a principal <br />amom~t not exceeding $128,823 (the "Principal Amotmt") for the purpose of acquiring the Property <br />is appropriate and necessary to the functions and operations of the City. <br /> <br /> 4. The City Com~cil anticipates that the City may incur certain capital expenditures in <br />cmmection with the Property prior to the City's receipt of proceeds of the Agreement. These <br />expenditures are not expected to exceed the Principal Amount. <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br /> PART 1. It is hereby found and determined that the terms of the Agreement in the form <br />presented to this meeting and attached to this resolution are in the best interest of the City for the <br />acquisition of the Property. <br /> <br /> PART 2. The Agreement is approved, and the City Manager is anthorized to execnte, <br />aclmowledge and deliver the Agreement with any changes, insertions and omissions therein as may <br />be approved by the City Manager, such approval to be conclusively evidenced by such execution and <br />delivery of the Agreement, and the City Clerk is authorized to affix the official seal of the City and <br />attest to the Agreement. <br /> <br /> PART 3. The proper officers of the City are authorized and directed to execute and deliver <br />any and all papers, instruments, opinions, certificates, affidavits and other documents and to do or <br />C:\TEMP\lease-purch~e K-Wells Fargo.doc <br /> <br /> <br />