HomeMy WebLinkAboutReso 1972-6694RESOLUTION NO. 6694
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA
VISTA ACCEPTING BIDS AND AWARDING CONTRACT FOR THE
LEASE-PURCHASE AGREEMENT OF A MODEL B-2510 BURROUGHS
COMPUTER AND CONSENTING TO ASSIGNMENT OF SAID AGREEMENT
TO THE BANK OF AMERICA
The City Council of the City of Chula Vista does hereby
resolve as follows:
WHEREAS, the following four bids were received and opened
on the 14th day of December, 1972, in the office of the Director of
Finance of the City of Chula Vista for the acceptance of a lease-
purchase agreement with Burroughs Corporation for a Model B-2510
Burroughs computer, and consenting to the assignment of said lease-
purchase agreement:
Security Pacific National Bank 3.90
Bank of America NT & SA 3.98740
Wells Fargo Bank 4.100
United California Bank 4.625%
and
WHEREAS, the terms of the seven-year lease call for an
initial down payment of $16,000.00, budgeted in Account No. 01-1430-
5271, Rentals and Leases and equal payments of $31,906.71 will be due
July 1 during the terms of the lease, which amount includes both
interest and principal, and
WHEREAS, the low bid received from Security Pacific National
Bank included modifications of the proposed lease-purchase agreement
which were unacceptable to the City and did not qualify said bidder
as the lowest responsible bidder, and
WHEREAS, it has been recommended that said contract be
awarded to Bank of America NT & SA, a financial institution chartered
by the State of California, who can produce an acceptable performance
bond.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the
City of Chula Vista does hereby accept said four bids, and does hereby
award the contract for lease-purchase of a model B-2510 Burroughs
computer and consenting to assignment of said agreement to Bank of
America NT & SA, to be completed in accordance with the specifications
as approved by the Director of Finance of the City of Chula Vista.
BF IT FURTHER RESOLVED that the Mayor of the City of Chula
Vista be, and he is hereby authorized and directed to execute said
contract for and on behalf of the City of Chula Vista.
Presented by Approved as to form by
Gor on Grant, i ector o George ~. Lindberg, City Atto ey
Finance
ADOPTED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
CHULA VISTA, CALIFORNIA, this 19th day of December r 19~2-
by the following vote, to-wit:
AYES: CGUnC~..~men Hyde, Egdahl, Scott, Hobel, Hamilton
NAYES : CG unC~.~men None
ABSENT: Counc~..~men None
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