HomeMy WebLinkAboutAgenda Statement 1979/05/15 Item 08CITY OF CHULA VISTA
' ~ Item No. 8
COUNCIL AGENDA STATEMENT
For meeting of 5/15/79
ITEM TI LE Resolution Approving Lease-Purchase Agreement for Library
Computer
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SUBMITT D ~~ Director of Finance
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ITEM EX LANATION (4/5TH'S }DOTE REQUIRED YES. NO X )
n January 9, 1979 the City Coun it approved Resolution 9451 accepting the
id of DataPhase Systems, Inc., ~or an automated library circulation system.
t that time staff recommended tat the computerized circulation system be
financed in the same manner as t e City previously financed the Burroughs
-2500 computer.
he approved terms stipulated the City would make a down payment of $20,000
'n the current budget year and the remaining cost would be financed on a
-year lease-purchase agreement ~vith seven equal annual payments of approximately
24,980 at 6 1/2% interest beginning July 1, 1979.
he Bank of America was the only', bank of five major banks contacted that was
filling to provide a seven-year Tease-purchase agreement with a guaranteed
'nterest rate of 6 1/2%.
ow that the final agreement has. been adopted with DataPhase Systems, Inc.,
nd Resolution 9586 was approved'~on May 8, 1979, we are ready to submit the
lease-purchase agreement with the Bank of America to finance the approved
system. '~,
he down payment of $20,000 has dot changed, but the annual payment due
each July 1, as indicated on the attached, will be $24,022.34.
E HIBITS
A reement~ Resolution Qrdinance Plat Notification List
0 her ENVIRONMENTALjDOCUMENT: Attached Submitted on
FINANC AL IMPACT
$20,000 has been budgeted in Acc~bunt 100-1660-5271, Rentals and Leases -
Library Circulation.
STAFF ~tECOMMENDATION
Approve Resolution.
;OMMISSION RECOMMENDATION
N/A
COUNCIL ACTION
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Form No. F-229
12/73
CERTIFICATE OFICITY/DIRECTOR OF FINANCE
Certification cbf Unappropriated Balance
I HEREBY CERTIFY that the money required for the
appropriation of funds fork the purpose set forth in the attached
resolution is available i~p the Treasury, or is anticipated to
come into the Treasury, aid is otherwise unappropriated.
Amount $ I_ Fund
Purpose
Bidder
Director of Finance
The City of Chula Vista
Date By
Certificationlof Unencumbered Balance
I HEREBY CERTIFI~ that the indebtedness and obligation
to be incurred by the conttract or agreement authorized by the
attached resolution can b$ incurred without the violation of any
of the provisions of the charter of the City of Chula Vista, or
the Constitution or the lbws of the State of California, that
sufficient monies have begin appropriated for the purpose of said
contract, that sufficientmonies to meet the obligations of the
contract are actually in the Treasury, or are anticipated to come
into the Treasury to the credit of the appropriation from which
the same are to be drawn,'~,and that said monies now actually in
the Treasury, together wii~h the monies anticipated to come into
the Treasury, to the credit of said appropriation are otherwise
unencumbered.
00-1660-9
Amount Not to Exceed S 20'000.00
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271 ~~~- /~ _.
Director of Finance
The City of Chula Vista
Date 5/15/79 gy
Fund General !, Dept./Activity Library
Purpose Lease-Purchase Agreement for Library Computer
Bidder DataPhase Systems, Inc.
Certificate No. 83 ^~~
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