HomeMy WebLinkAboutResolution_40-13_11/14/2013 RESOLUTION NO. 40-13
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AMENDING
RESOLUTION NO 32 -13 AND APPROVING A TAX EXEMPT
LEASE PURCHASE AGREEMENT WITH SUNTRUST
EQUIPMENT FINANCE & LEASING CORP. FOR THE PURCHASE
ONE NEW PUMPER TRUCK IN THE AMOUNT OF $432,843.54 AT
AN ANNUAL INTEREST RATE OF 2.423% TO BE FINANCED
OVER NINE (9) YEARS WITH TEN (10) PAYMENTS, AND
AUTHORIZING THE VILLAGE MANAGER TO EXECUTE THE
APPLICABLE CONTRACT ON BEHALF OF THE VILLAGE;
PROVIDING AN EFFECTIVE DATE, AND FOR OTHER
PURPOSES.
WHEREAS, the Village of Tequesta desires to finance the purchase of its new fire
pumper truck, which is deemed essential for the Village to perform its governmental
functions related to the provision of fire rescue services; and
WHEREAS, three bids to finance the purchase of said fire pumper truck were
received by the Village, with First Capital Equipment Leasing Corporation, acting on
behalf of SunTrust Equipment Finance and Leasing Corporation being the bidder who
offered the lowest interest rates; and
WHEREAS, the Village Council desires to finance the purchase of said fire
pumper truck through SunTrust Equipment Finance and Leasing Corporation.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF
THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS
FOLLOWS:
Section 1: The Village Council hereby adopts Resolution #40 -13 amending
Resolution #32 -13 and approving a tax exempt lease purchase agreement with SunTrust
Equipment Finance & Leasing Corporation for the purchase of a new pumper truck in the
amount of $432,843.54.
Section 2: The Village Manager is authorized and directed to execute any and
all applicable contracts and other documents on behalf of the Village as necessary to
effectuate the intent of this Resolution.
Section 3: This Resolution shall take effect immediately upon adoption, and
shall further serve as authorization for documents previously executed by the Village
Manager for the purposes of effectuating the intent of this Resolution.
The foregoing Resolution was offered by Council Member Paterno who moved its adoption.
The motion was seconded by Vice -Mayor Arena and upon being put to a vote, the vote was as
follows:
For Adoption Against Adoption
Mayor Abby Brennan X
Vice -Mayor Vince Arena X
Council Member Steve Okun X
Council Member Tom Paterno X
Council Member Frank D'Ambra Absent
The Mayor thereupon declared the Resolution duly passed and adopted this 14` day of
November 2013.
MAYOR OF TEQUESTA
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SEAL Abigail reran
ATTEST: - INCORPORATED
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Lori McWilliams, MMC
Village Clerk
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