HomeMy WebLinkAbout1979, Jan 17 LEase Agreement=__, a
A regular meeting of the City Council of the City
of Rexburg, Idaho, held January 17, 1979, at 7:30 o'clock
P.D1. at the City Hall was called to order by Mayor John C.
Porter. There were present the following Council Members:
Nile Boyle, Jim Morris, Morgan Garner, Warren Porter, Darlene
Blackburn and Barton Jensen. Also present, City Clerk Rose
Bagley.
Barton Jensen was recognized by the Mayor and pre-
sented to the Council the following Resolution:
RESOLUTION
WHEREAS, the City of Rexburg is desirous of leasing
from the Rexburg Motor Company, as lessor, and the Idaho First
National Bank of Rexburg, Idaho, as the Financing Entity, the
following described equipment:
1979 Ford Garbage Truck Model N800,
Serial $N80B VDG 8189 with Heil Mark IV
refuse body 20 cubic yard 2; cubic yard
hopper.
~/ AND WHEREAS, the original cost of said equipment is
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$n-~~-G :'00 , and
WHEREAS, the proposed term of lease is for the period
of three years commencing January 30, 1979, and ending January
30, 1981, the payment schedule being as follows:
January 30, 1979, $9,077.00;
January 30, 1980, $9,077.00; and
January 30, 1981, $9,077.00.
AND b9HEREAS, said Lease Agreement will contain the
usual and customary terms and shall provide, among other things,
that if the lessee shall comply with all of the provisions of the
lease that title to the equipment therein described will vest
in and become the property of the lessee and the lessor will
transfer title to the lessee by good and sufficient Bi11 of
Sale, and
WHEREAS, a copy of said Lease Agreement is attached
to this Resolution and made a part of the minutes of this meeting
tdOW, THEREFORE, BE IT RESOLVED that the City of
Rexburg enter into said Lease Agreement dated January 30, 1979,
by and between the Rexburg Motor Company as lessor and the City
of Rexburg as lessee, and the Idaho First National Bank,
Rexburg, Idaho., as the financing entity, wherein and whereby
the City of Rexburg is leasing the equipment heretofore des-
cribed on the terms and conditions heretofore set forth; that
a copy of said Lease Agreement is attached to this Resolution
and by reference thereto made a part hereof.
BE IT FURTHER RESOLVED that the Mayor be, and he is
hereby authorized and directed to sign said Lease Agreement,
and the City Clerk is authorized and directed to attest the
same.
It was moved by Nile Boyle and seconded by Warren
Porter that such Resolution be adopted and that the Resolution
be spread upon the minutes. Upon the call for question, the
vote taken was: For - 6; Against - 0. Whereupon. the Mayor
declared the Resolution duly adopted.
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Mayer-;!John C. Porter.
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ATTEST 7 ~- i
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City C1erk,~Ros~a~gley.
CERTIFICATE
THIS IS TO CERTIFY that the foregoing is a true and
correct copy of that portion of the minutes of a regular
meeting of the Rexburg City Council held January 17, 1979,
pertaining to said equipment Lease Agreement.
Dated:
-^ ~ 7
Rose Bagley, Cites Cl~a=nlt.