HomeMy WebLinkAboutordinance.council.092-75RECORD OF PROCEEDINGS
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ORDINANCE NO. 92
(Series of 1975)
AN ORDINANCE ADOPTED PURSUANT TO THE REQUIREMENTS OF SECTION
10.8 OF THE ASPEN HOME RULE CHARTER AND AUTHORIZING THE ENTRY
BY THE CITY OF ASPEN INTO AN INSTALLMENT PURCHASE AGREEMENT
WITH THE BANK OF ASPEN FOR THE ACQUISITION OF A COMPUTER SYSTEM;
7~ICH PURCHASE CONTRACT IS FOR THE AMOUNT OF ONE HUNDRED AND
TWENTY THOUSAND ($120,000.90) DOLLARS, PAYABLE IN MONTHLY IN-
STALLMENTS FOR A TERM OF FIVE (5) YEARS AT A RATE OF SIX (6%)
PERCENT SIMPLE INTEREST
WHEREAS, the City Council is advised by the City Manager
that installment purchase financing is desirable for the acqui-
sition by the City of Aspen of a complete computer system, and
WHEREAS, such installment purchasing is authorized by Sec-
tion 10.5 of the Aspen Home Rule Charter, but such provision
requires approval of installment purchasing only by ordinance,
and,
NOW, '£HEREFORE, 3E IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO:
~ection 1
That the City Council does hereby approve the entry by
the City of Aspen into an installment purchase agreement for
the acquisition of that computer system and components described
in Resolution No. 33, Series of 1975, of the City of Aspen with
the Bank of Aspen under the following conditions:
a. The installment purchase agreement shall be for an amount
not to exceed One Hundred Twenty Thousand ($120,000.Q0)
Dollars.
b. Such agreement shall be for a term not to exceed five
(5) years and shall cause ownership in the purchased
equipment(at the end thereof) to vest in the City.
c. The purchase price and interest shall be payable in
monthly installments, the first payment due not before
January 10, 1976, and each month thereafter.
RECORD OF PROCEEDINGS
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d. The interest imposed shall not exceed six (6%) per
cent (simple) interest per year.
e. There shall be pledged only the general revenues of
the City and no specific revenues shall be earmarked for
payment or other funds reserved therefore.
Section 2
That the mayor of the City of Aspen, Stacy Standley III,
is hereby authorized to execute such installment purchase agree-
ment on the part of the City of Aspen.
Section 3
If any provision of this ordinance or the application
thereof to any person or circumstance is held invalid, such
invalidity shall not affect other provisions or applications
of the ordinance which can be given effect without the invalid
provisions or applications, and to this end the provisions or
applications of this ordinance are declared to be severable.
Section 4.
A public hearing on this ordinance shall be held on the
22 day of December, 1975, at 5:00 P.M. in the City Council
Chambers, Aspen City Hall, Aspen, Colorado.
INTRODUCED, READ AND ORDERED published as provided by
law by the City Council
meeting held December 9,
ATTEST:
City Clerk
Deputy City Clerk
of the City of Aspen,
1975.
at its regular
STACY//ST2[NDLEY III, Hayor /
/ ~ ~ /
RECORD OF PROCEEDINGS
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READ, AND FINALLY APPROVED AS AMENDED by the City
Council of the City of Aspen, at its regular meeting held
December 22, 1975.
ATTEST:
City Clerk
Deputy City Clerk
RECORD OF PROCEEDINGS
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STATE OF COLORADO )
)
COUNTY OF PITKIN )
ss. CERTIFICATE
I, Kathryn S. Hauter, City Clerk of Aspen,
Colorado, do hereby certify that the above and foregoing
ordinance was introduced, read in full, and passed on
~~ reading at a regular meeting of the
Cit Council of the City of Aspen on ~~ ,
i97~ and published in the Aspen Ti~es, a weekly newspaper
of general circulation, published in the City of Aspen,
Colorado, in its issue of ~ ~~/ ./~ , 197 ,,~
and was finally adopted and approved at a regular meeting
of the City Council on /~ ~~
and ordered published as Ordinance No.
197 ~, of said City, as provided by law.
Series of
IN WITNESS WHEREOF, I have hereunto set my hand
and the seal of said City of Aspen, Colorado, this j~
day of ~L~.~. 197~.
Kathr~gh S. Hauter
City Clerk