87-40
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RESOLUTION
No. 87-40,
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A RESOLUTION OF THE CIT~ COMMISSION OF THE CIT~ OF
CLEARWATER, FLORIDA, AUTHORIZING THE FINANCE
DIRECTOR AND ASSIST~NT FINANCE DIRECTOR TO EXECUTE
INDIVIDUAL LEASE PURCHASE CONTRACTS WITH CITICORP
INDUSTRIAL CREDIT, INC. UNDER THE TERMS OF THE
LINE OF CREDIT AGREEMENT DATED OCTOBER 15, 19B 7,
FOLLOWING CITY COMMISSION APPROVAL OF THE PURCHASE
AND FINANCING OF INDIVIDUAL ITEMS OF ~OUIPMENT.
WHEREAS, the City Commission of the City of Clearwater has
entered into a line of credit agreement with Citicorp Industrial
Credit, Inc., ("Citicorp"), dated October 15, 1987; and
WHEREAS, Citicorp has requested a resolution of the City
Commission designating which officials will be authorized to execute
individual Lease Purchase contracts on behalf of the City:
NOW, THEREFORE BE IT RESOLVED B~ THE CITY
COMMISSION OF CITY OF CLEARWATER, FLORIDA:
Section 1. The Finance Di rector and Ass istant Finance Director,
whose names and signatures appear below, are hereby designated as
nappropriate officials" for the purpose of executing individual Lease
Purchase contracts with Citicorp Industrial Credit, Inc., under the
tenns of the ~ine of credit agreement dated October 15, 1987,
following the approval, by the Ci ty Commission, of the purchase and
the financing of individual items of equipment and the authorization
for nappropriate officials" to execute such contracts.
Section 2. Names and Signatures:
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Daniel J. oeignan
Finance Director
,
David H. Curtis
Assistant Finance Director
. Section 3. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 15th day of ,October,
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Mayor-Commissioner
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10-15-87