11-14-04-Resolution-Lease Purchase Agreement for Municipal Software System-11/01/2004RESOLUTION # 11-14-04
A RESOLUTION REGARDING A LEASE PURCHASE AGREEMENT FOR 'THE PURPOSE OF
PROCURING MUNICIPAL SOFTWARE SYSTEM
WHEREAS, City of Sanger (the "Lessee") desires to enter into that cep twin Lease-Pw chase Agreement dated as
of 10/14/2004 by and between the Lessee and Diversified Lenders, Inc. for the purpose of procuring any personal
property. The Lessee desires to designate this Agreement as a "qualified tax exempt obligation" of the Lessee for
the purposes of Section 265 (b) (3) of the Internal Revenue Code of 1986, as amended. The Lessee desires to
designate Tommy Kincaid, Mayor and Rosalie Chavez, City Secretary as authorized signers of the Agreement.
WHEREAS, this is for Hi -Tech Software available from only one source; therefore the bidding process is not
required.
NOW, BE TT THEREFORE RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANGER, TEXAS,
THAT:
1. The Less�.�,enters into a Lease Purchase Agreement with Diversified Lenders, Inc. for the
purpose of procuring: Municipal Software System.
2. That the Lease Purchase Agreement dated as 10/14/2004, by and between the Lessee and
Diversified Lenders, Inc. is designated by the Lessee as a "qualified" tax exempt obligation" for
the purpose of Section 265 (b) (3) of the Internal Revenue Code of 1986 as amended.
3. That the Lessee designate Tommy Kincaid, Mayor, Rosalie Chavez, City Secretary as authorized
signers of the Lease Purchase Agreement dated as of 10/14/2004, by and between the Lessee and
Diversified Lenders, Inc.
PASSED, APPROVED AND ADOPTED this the 15` day of November 2004
• fib,,
Rosalie
City Attorney