2002-016 Lease Purchase For Equipment & VehiclesRESOLUTION 16-2002
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A RF.SOLl1TION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM
BEACH, FLORIDA, AUTHORIZING AND DIRECTING THE MAYOR AND VILLAGE CLERK
7'O I;N77;R INTO AN EQUIPMENT LEASE/PURCHASE AGREEMENT AND ASSOCIATED
DOCUMIiNTS THERETO WITH FIRST UNION NATIONAL BANK, A NATIONAL BANKING
ASSOCIATION, ATTACHED AS COMPOSITE EXHIBIT "A", WHICH EQUIPMENT
1.1sASF,/1'URCILASF AGKF;EMENT' IS FOR THE PURPOSE OF VILLAGE SECURING Fl1NUS
l1P 7'O $588,000 FOR FINANCING ACQUISITION OF VARIOUS EQUIPMENT AND
VI?}IICI.I?S FOR THE VII,LAGL'; AND, PROVIDING FOR AN EFFECTIVE DATE.
BI'. IT' Ri;SOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA:
Section 1. The Village Council of the Village of North Palm Beach, Florida, does hereby approve
the Equipment Lease/Purchase Agreement and associated documents thereto with First Union
National Bank, a National banking association, attached as composite Exhibit "A", which equipment
lease/purchase agreement is for the purpose of village securing funds up to $588,000 for financing
acquisition of various equipment and vehicles for the Village.
Scction 2. The Village Council does hereby authorize and direct the Mayor and Village Clerk to
execute the Isquipment Lease/Purchase Agreement and associated documents with First Union
National Bank attached as composite Exhibit "A" for and on behalf of the Village of
North Palm Beach.
Scction 3. This resolution shall take effect immediately upon its adoption.
I'ASSF.U AND ADOPTED THIS ]4th DAY OF MARCH, 2002.
(Vi•.lage Seal)
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MAYOR