AN ORDINANCE PROVIDING FOR THE LEASE/PURCHASE OF A BACKHOE
NOW THEREFORE, BE IT ORDAINED by the Board of Alderman of the City of Rich Hill, Missouri that the following resolution is hereby adopted:
WHEREAS, the City of Rich Hill, Missouri is in need of a new back hoe for City maintenance work;
WHEREAS, the City has located a backhoe which it can acquire by a lease with an option to purchase from the Kansas State Bank of Manhattan (“Bank”); and
WHEREAS, the Bank has offered to lease the backhoe to the City with an option to purchase;
WHEREAS, the City has carefully reviewed its financing requirements for the current calendar year and reasonably expects that it will not issue more than $10 million of tax exempt obligations during the calendar year.
NOW THEREFORE, BE IT RESOLVED, that the City of Rich Hill be, and is hereby is, authorized to enter into the Lease with Option to Purchase with Bank for a period of four years in accordance with the form presented to and reviewed by the Board of Alderman, a copy of which is attached to the minutes of the meeting during which this Ordinance was adopted; and
BE IT FURTHER RESOLVED, that Mayor of the City of Rich Hill is hereby authorized, empowered and directed to sign on behalf of the City of Rich Hill to execute the Lease With Option to Purchase and all other agreements, addendums, schedules, financing statements or other instruments necessary in order to lease said backhoe and to execute the purchase offer granted thereunder.
EFFECT OF INVALIDITY ON ANY PART OR ORDINANCE
The invalidity of any section, clause, sentence or provision of this ordinance shall not affect the validity of any other part of this Ordinance which would then be given effect not withstanding such invalid part or parts.
EFFECTIVE DATE
This ordinance shall be in full force and effect from and after its passage and approval as provided by law.
READ TWO TIMES AND PASSED THIS 8TH DAY OF March, 2005.
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Sharon Miller, Mayor Pro Tem
ATTEST:
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Rose Entrikin, City Clerk
Ayes: Turner, heckadon, Miller
Nays: None
Tammy Williams and Don Steuck was absent
CERTIFICATION BY THE CLERK
STATE OF MISSOURI )
) AS
COUNTY OF BATES )
I, Rose Entrikin, Clerk of the CITY OF RICH HILL, in the County and State aforesaid, do hereby certify that the above and foregoing ordinance providing for is a true and correct copy of the Ordinance No.1228 duly adopted by the Board of Alderman of the CITY OF RICH HILL, Missouri at their regular meeting on the 8th day of March, 2005.
IN WITNESS WHEREOF, I hereby set my hand and affix the seal of the said City at my office in Rich Hill, Missouri.
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Rose Entrikin, Clerk of City of Rich Hill, Missouri
