Res 227-84 11/20/1984F
RESOLUTION NO. c.'7
RESOLUTION AUTHORIZING THE CITY MANAGER
TO EXECUTE A LEASE-PURCHASE AGREEMENT TO
FINANCE THE PURCHASE OF A REPLACEMENT
TELEPHONE SYSTEM
WHEREAS, it is essential to the continued efficient operation of the City to
replace its current telephone system; and
WHEREAS, a multi-year lease-purchase of a new system will allow the City to pay r
for such system from annual operating revenues; and
WHEREAS, the City desires to execute a lease-purchase agreement with the most
advantageous terms to the City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS, THAT
The City Manager is hereby authorized to execute a lease-purchase agreement for
an amount sufficient to cover the cost of a replacement telephone system. The City
Manager shall have the option of placing the lease-purchase agreement with the
financing institution which, in his opinion, offers the City the most favorable
terms.
PASSED AND APPROVED this the 20th day of November, 1984. ,
MAYOR
ATTEST:
City Clerk
Page 2 of 2 Pages
Agenda Item No. 9.b.
RECEIVED IN
CITY CLERK'S OFFICE
Date
By