08-27-1984-Resolution-Resolution-Certificate of Obligation for the Purchase of Materials & Equipment for Sanger Electric-08/27/1984RESOLUTION AUTHORIZING CERTIFICATES OF OBLIGATION
FOR THE PURCHASE OF MATERIALS AND EQUIPMENT
FOR SANGER ELECTRIC SYSTEM
WHEREAS, the City of Sanger will be taking over the
operation and maintenance of its Sanger Electric System
on September 1, 1984, and
WHEREAS, it will be necessary fo.Lai the City of Sanger
to purchase equipment and materials in order to properly
maintain and repair the Sanger Electric System to assure
its customers of adequate power, and
WHEREAS, the Brazos Electric System has operated the
Sanger Electric System for the City of Sanger for the past
fourteen years (1970-1984) and desires to sell their equip-
ment and materials to the City of Sanger at their costs.
NOW THEREFORE BE IT RESOLVED by the City Council of the City
of Sanger, Texas, that:
Paragraph l: The issuance of Certificates of Obligation
in the amount of Ninety Six Thousand Five Hundred Dollars
($96,500) shall be in the same is hereby authorized for
a period of six (6) years at an interest rate of twelve
and one half percent (12 %), and
Paragraph 2: These funds shall be used to pay for equip-
ment and materials in the following manner:
1. To purchase at bid a
estimated at $11,500.
3/4 ton pickup with tool bed
2. To purchase from Brazos Electric Cooperative:
a. 1970 Pitman Device, Model HS-41 MA-21 (basket
unit) mounted on a 1970 Model Ford 600 truck
(40,373 miles as of 8-2-84) for $12,795,
b. 1975 Pitman Pole Cat, Model 650-2-NT (digger
derrick) mounted on a 1975 Ford F600 truck
(26,775 miles as of 8-2-84) for $12,245,
c. One lot of materials inventoried by City of
Sanger and Brazos Personnel for $48,558.
3. To purchase transformers presently on order which
have not been allocated for payment in 2-C above
for $9,478,
4. To purchase a variety of materials on order which
have not been received as of change over date
September 1, 1984 for $2,082,
Paragraph 3: The Mayor and City Manager are hereby
authorized to sign the Certificates of Obligation for
and in behalf of the City of Sanger, Texas,
PASSED AND APPROVED at a regular meeting of the City Council
on this day of 1984.
ATTEST
ty Secretary