Res 667 12/12/1966RESOLUTION NO. 4 7
BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
Authority is hereby granted to the City Manager to
execute a contract between the City of Wichita Falls and
International Business Machines Corporation for lease-
purchase of the 1800 Traffic Computer System. Such contract
shall cover a period of five years, and shall provide for
the payment of monthly installments, with a total time sale
price of $136, 593.40. If and when this amount is paid,
title to such equipment shall vest in the City of Wichita
Falls. If at any time during the term of the contract the
Board of Aldermen should desire not to allocate funds for
payment of monthly installments beyond the current fiscal
year, there would be no obligation on the City to pay any
further amount on the contract, and the equipment could
be retained on a lease basis or could be returned to Inter-
national Business Machines Corporation.
PASSED AND APPROVED this the 12th day of December,
1966.
M A Y O R
A T T E S T:
A-44-7-ter )
City Clerk