HomeMy WebLinkAboutResolution 95-78 11/06/1995
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CITY OF SPRINGFIELD, OREGON
RESOLUTION NO. 95-78
A RESOLUTION ESTABLISHING THE CITY'S INTENTION TO REIMBURSE
EXPENDITURES WITH THE PROCEEDS OF A FUTURE MASTER LEASE FINANCING.
WHEREAS, the Common Council of the City of Springfield, Oregon has determined that from
time to time a need exists to acquire capital equipment through a Master Lease Agreement; and
WHEREAS, the City will take the necessary steps, including compliance with its legal bidding
requirements, under applicable law to arrange for the acquisition of such equipment; and
WHEREAS, the holder of the Master Lease will reimburse the City for such purchase costs, and,
the' City will then relinquish title to the equipment to the Master Lease holder upon receiving such
reimbursement; ,
BE IT FURTHER RESOL YED, that this Resolution is a declaration of intent under United States
Treasury Regulation Section 1.103-18.
Adopted by the Common Council and approved by the Mayor of the City of Springfield, Oregon
this 6th day of November, 1995.
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Mayor
ATTEST:
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City Recorder
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