HomeMy WebLinkAbout03-014 CITY OF LAKEVILLE
RESOLUTION
Date January 2l, 2003 Resolution No, 03-14
Motion By Rieb Seconded By Wulff
RESOLUTION AUTHORIZING THE EXECUTION OF ALEASE-PURCHASE
AGREEMENT WITH WELLS FARGO RELATING TO FINANCING THE
ACQUISTION OF A SEWER VACTOR
WHEREAS, pursuant to Minnesota Statutes, Sections 465.71 and 471.64, the City is authorized
to enter into leases of real and personal property, with an option to purchase, provided that the
City retains the right. to cancel said lease-purchase contract at the end of any fiscal year during its
term; and,
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota as follows:
The City .hereby approves the form of the Lease-Purchase Agreement and .Supplemental
Agreement with Wells Fargo relating to financing the acquistion of a sewer Vactor , a copy of
which are attached hereto. The Mayor and City Clerk are authorized and directed to execute, "
attest and deliver .the Lease on behalf of the City. All of the provisions of the Lease, .when
executed and delivered as authorized herein,. shall be deemed to be a part of this resolution as
fully and to the same extent as if incorporated verbatim herein and shall be in full. force and
effect from the date of execution and delivery thereof.
APPROVED AND ADOPTED this 21St day of January 2003.
CITY OF LAKEVILLE
By:
Robert D. Jo n, Mayor
TTEST: ~
harlene Friedges, City erk