From
Chip Nami
Title
Resolution authorizing the City Manager to execute a lease agreement for lease # 1161345-3 for EZGO golf carts, EZGO GPS units, and Range Picker units for Tangle Ridge and Prairie Lakes golf courses
Presenter
Cheryl De Leon, Director of Parks, Arts and Recreation
Recommended Action
Approve
Analysis
Council approved the lease agreement for golf carts at Tangle Ridge and Prairie Lakes golf courses at the April 2, 2019 Council meeting. The leasing agent has requested that the resolution below be included as part of that agreement.
Financial Consideration
None
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER EQUIPMENT LEASE- PURCHASE AGREEMENT WITH PNC EQUIPMENT FINANCE, LLC, AS LESSOR, AND SEPARATE LEASE SCHEDULES THERETO FOR THE ACQUISITION, PURCHASE, FINANCING AND LEASING OF CERTAIN EQUIPMENT WITHIN THE TERMS HEREIN PROVIDED; AUTHORIZING THE EXECUTION AND DELIVERY OF OTHER DOCUMENTS REQUIRED IN CONNECTION THEREWITH; AND AUTHORIZING ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION.
Whereas, the City of Grand Prairie Texas, (the “Lessee”), a body politic and corporate duly organized and existing as a political subdivision, municipal corporation or similar public entity of the State of Texas is authorized by the laws of the State of Texas to purchase, acquire and lease certain equipment and other property for the benefit of the Lessee and its inhabitants and to enter into contracts with respect thereto; and
Whereas, the governing body of the Lessee (the City Council) has determined that a true and very real need exists for the acquisition, purchase and financing of certain property consisting of EZGO Golf Carts, EZGO GPS Units and Range Picker Units (collectively, the “Equipment”) on the terms herein provided; and
Whereas, in order to acquire such Equipment, the Lessee proposes to enter into that certain Master Equipme...
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