HomeMy WebLinkAbout 934 Approv LP for Rotary MowerORDINANCE N0.934
AN ORDINANCE APPROVING A LEASE -PURCHASE AGREEMENT
FOR A NEW ROTARY MOWER
WHEREAS, the Town is authorized by applicable law, including but not limited to
C.R.S. § 3145-801 et sec., to acquire equipment and to enter into leases for the same, which
leases may include an option to purchase and acquire title to the leased property; and
WHEREAS, the Board of Trustees deems it necessary and desirable for the efficient and
proper functioning of the Town and for the health and safety of the Town's inhabitants to acquire
a new rotary mower; and
WHEREAS, the Board of Trustees has determined it is in the best interest of the Town
and its inhabitants to enter into the lease contemplated herein for the lease with option to
purchase of a new Toro Groundsmaster 4000-1) rotary mower to be used by the Town public
works department;
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE, COLORADO.
Section 1. The Governmental Lease -Purchase Agreement between the Town and
TCF Equipment Finance, a division of TCF National Banlc (the "Lease") for lease and
acquisition of a new Toro Groundsmaster 4000-D rotary mower, which Lease includes an option
to purchase and acquire title to the mower, is hereby approved in essentially the same form as the
copy of such Lease accompanying this ordinance.
Section 2. The Mayor and Town Clerk are authorized to execute the Lease on behalf
A the Town, except that the Mayor is further hereby granted the authority to negotiate and
approve such revisions to said Lease as determined necessary or desirable for the protection of
the Town, so long as the essential terms and conditions of the Lease are not altered. The Lease
shall be in a principal amount not to exceed $64,832.00, will bear interest at a rate not to exceed
4.91 % per annum and the aggregate of the initial term and all renewal terms shall not exceed
three years. The Lease shall contain an option to purchase by the Town as therein set forth.
Section 3. The Mayor and Town Clerk are authorized to execute the Lease on behalf
of the Town. The Mayor, Town Clerk, Town Attorney, and Town staff are further authorized to
execute such other documents as are necessary to implement the Lease, and Town staff is
authorized and directed to make payments under the Lease for which funds are legally available.
Section 4. All financial obligations of the Town under the Lease shall be subject to
annual budgeting and appropriation, and nothing herein shall be deemed to authorize, or
construed to authorize, any multiple -fiscal year direct or indirect obligation whatsoever.
Section 5. If any article, section, paragraph, sentence, clause, or phrase of this
ordinance is held to be unconstitutional or invalid for any reason, such decision shall not affect
the validity or constitutionality of the remaining portions of this ordinance. The Board of
Trustees hereby declares it would have passed this ordinance and each part or parts hereof
irrespective of the fact that any one part or parts be declared unconstitutional or invalid.
Section 6. All actions heretofore taken by Town employees, officers and members of
the Town Board of Trustees, not inconsistent with the provisions of this ordinance, are hereby
ratified, approved and confirmed,
Section 7. All other ordinances or portions thereof inconsistent or conflicting with
this ordinance or any portion hereof are hereby repealed to the extent of such inconsistency or
conflict.
INTRODUCED, READ, ADOPTED, APPROVED, AND ORDERED PUBLISHED IN
FULL this 13t" day of June 2018.
TOWN OF FIRESTONE, COLORADO
ATTEST:
I
w
Leah Vanarsdall, Town Clerk