Resolution 92-06
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RESOLUTION NO.
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A RESOLUTION OF THE CITY OF WYLIE, TEXAS REGARDING THE LEASE
PURCHASE AGREEMENT FOR THE PURPOSE OF FINANCING A COMPUTER
SYSTEM.
WHEREAS, the City of Wylie (the "City") desires to enter into
that certain Lease-Purchase Agreement dated as of
August 25, 1992 by and between the City and Affiliated
Corporate Services, Inc. for the purpose of financing
the purchase of a Computer System; and
WHEREAS, the City desires to designate this Agreement as a
"qualified tax exempt Obligation" of the City for the
purpose of section 265 (b) (3) of the Internal Revenue
Code of 1986, as amended; and
WHEREAS, the City desires to designate Steven P. Norwood, City
Manager, and Brady E Snellgrove, Finance Director, as
authorized signers of the Agreement;
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS, AS FOLLOWS:
section 1
That the City will enter into a Lease Purchase Agreement with
Affiliated Corporate services, Inc. for the purpose of financing
the purchase of a Computer System.
section 2
That the Lease Purchase Agreement dated as of August 25, 1992, by
and between the City and Affiliated Corporate Services, Inc. is
designated by the City as a "qualified Tax exempt obligation" for
the purposes of Section 265 (b) (3) of the Internal Revenue Code
of 1986, as amended.
section 3
That the City will designate steven P. Norwood, City Manager, and
Brady E. snellgrove, Finance Director, as authorized signers of
the Lease Purchase Agreement dated as of August 25, 1992, by and
between the City and Affiliated Corporate Services, Inc.
PASSED AND APPROVED by the City Council of the City of Wylie,
this 25th day of August, 1992.
APPROVED:
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,ohn W. Akin, Mayor
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