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RESOLUTION NO. 93-56
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF UKIAH
AUTHORIZING THE CITY MANAGER TO EXECUTE DOCUMENTS
TO REFINANCE MISCELLANEOUS CITY DEBT
WITH WESTAMER£CA BANK
WHEREAS, the City has entered into lease purchase agreements from
time to time to purchase a computer system, a caterpillar compactor, a
ladder truck, a copier, and a mailing machine; and
WHEREAS, interest rates have fallen from the 7% - 9.95% in the
existing debt; and
WHEREAS, the City has an opportunity to refinance these debts at
5.75%, for a savings of $14,000.
NOW, THEREFORE, BE IT RESOLVED that the City Manager is authorized to
execute documents necessary to refinance this debt with Westamerica Bank.
PASSED AND ADOPTED this 3rd day of March , 1993, by the
following roll call vote: and
AYES: Councilmembers Mas~in, Malone, Wat~enburger, Shoemaker
Mayor Schneiter
NOES: None
ABSENT: None
C
R:RES2
Res Debt
t~nY~7~aY
MAYOR Fre~' Sc~nelter