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RESOLUTION NO. 010484
Providing
authorization to proceed with the development of financing for the purchase of
golf course equipment under a master lease purchase agreement in the
approximate principal amount of $115,000.00; and declaring the intent of the
City to reimburse itself from the lease purchase proceeds for certain
expenditures.
WHEREAS,
the Parks and Recreation Department needs new golf course equipment in order to
complete the grow-in of the new 9-hole golf course at Blue River Golf Academy;
and
WHEREAS,
it is essential to acquire this equipment in a timely manner in order to be
available upon the opening of the new 9-hole golf course on June 2, 2001; and
WHEREAS,
the purchase of such equipment will be financed by a draw upon this master
lease purchase agreement; the payment of which will be made by annual
appropriation in the Parks Special Services Fund over a five year period; NOW,
THEREFORE,
BE
IT RESOLVED BY THE COUNCIL OF KANSAS CITY:
Section
1. That the Director of Finance is authorized to proceed with the development
of financing for the purchase of golf course equipment through a draw upon the
Master Lease Purchase Agreement with Banc of America Leasing & Capital, LLC
in the approximate principal amount of $115,000.00.
Section
2. That the City declares its intent to reimburse itself for certain
expenditures made within 60 days prior to or on and after the date of this
resolution with respect to the golf course equipment with the proceeds of the
lease purchase expected to be drawn upon the Master Lease Purchase Agreement
with Banc of America Leasing & Capital, LLC. The maximum principal amount
expected to be financed under the lease purchase is $115,000.00.
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