LETTER - ESSENTIAL USE/SOURCE OF FUNDS - UNISYS FINANCE CORP.
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ESSENTIAL USE/SOURCE OF FUNDS LETTER
Unisys Finance Corporation
One Unisys Place
Detroit, MI 48232
Re: Equipment Lease Agreement No.
Gentlemen:
This confirms and affirms that the Equipment described in the Equipment Lease Agreement
referred to above (the "Agreement") is essential to the function of the undersigned or to the
service we provide to our citizens.
Further, we have an immediate need for, and expect to make immediate use of, substantially
all such Equipment, which need is not temporary or expected to diminish in the foreseeable future.
Such Equipment will be used by us only for the purpose of performing one or more of our
governmental or proprietary functions consistent with the permissible scope of our authority.
Specifically, such Equipment was selected by us to be used as follows: processinq of
payroll and related required reports for all 1500 city employees and 250
80741-02
city pensioners.
The estimated useful life of such Equipment based upon manufacturer's representations and
our projected needs is S eve n Yea r s
Our source of funds for payments of the rent due under the Agreement for the current fiscal
year is charqes to all departments based on number of employees. Enterprise
fund charqes are raised throuqh user fees and qovernmental fund charqes are.
raised primarily from property, franchise, and utility taxes.
We expect and anticipate adequate funds to be available for all future payments of rent due
after the current fiscal year for the following reasons: Rent will be included in the
annual budqets and commission policy has always been to set user fees and
taxes as necessary to cover all budqeted expenditures.
Very truly yours,
Lessee
By
Contract
--' 77
e Director
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D. R. Perkins, Payroll Services Manager
Form No. 3029608 Rev 7i87
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