HomeMy WebLinkAbout2015-R-07 - Tana E320 Landfill Compactor LoanRESOLUTION NO. 2015-07
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF STEPHENVILLE, TEXAS, PROVIDING
AUTHORIZATION TO ENTER INTO A LOAN AGREEMENT WITH CITY BANK TEXAS AND DESIGNATING
THE MAYOR OF THE CITY OF STEPHENVILLE TO EXECUTE NECESSARY DOCUMENTS TO EFFECT SAME;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Stephenville ("City") is a home rule city acting under its charter; and
WHEREAS, it is the intent of the City Council to purchase a Tana E320 Landfill Compactor; and
WHEREAS, the City desires to fund this purchase through a financial agreement with City Bank
Texas; and
WHEREAS, the summary of the funding agreement is set out in Exhibit "A"; and
WHEREAS, the Mayor of the City of Stephenville is the duly authorized official to execute the
documents.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STEPHENVILLE, TEXAS:
nSection 1. The City Council hereby authorizes the purchase of a Tana E320 Landfill Compactor.
i Section 2. The City Council hereby authorizes the funding of a Tana E320 Landfill Compactor
III through a financial agreement with City Bank Texas.
Section 3. The City Council hereby authorizes the Mayor of the City of Stephenville to execute all
documents.
Section 4. This resolution shall be effective upon its adoption.
PASSED AND APPROVED on this 7th day of April, 2015 by the City Council of Stephenville, Texas.
rJ 0
Jerry <. W I on II, Mayor
A EST:
Cindy L. S fford, City Se y
Revi—� Bridges,
City Administrator
Approved as to form and content by
Randy Thomas, City Attorney