HomeMy WebLinkAboutordinance.council.055-80RECORD OF PROCEEDINGS
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ORDINANCE NO.
(Series of 1980)
AN ORDINANCE APPROVING THE TERMS AND CONDITIONS OF A LEASE AND
OPTION AGREEMENT BETWEEN JINCO LEASING CORP. AND THE CITY OF ASPEN
WHICH AGREEMENT PROVIDES FOR ONE ADVANCE PAYMENT OF $10,000 AND 20
CONSECUTIVE QUARTERLY PAYMENTS OF $5,043.64 AT A SIMPLE INTEREST
RATE OF 9 1/4%
WHEREAS, the City Council is required, by reason of Section
10.8 of the home rule charter, to ratify all long-term lease
agreements by ordinance, and it wishes to do so with respect to
an outstanding agreement between Jinco Leasing Corp. and the City
of Aspen,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF ASPEN, COLO-
RADO:
Section 1
That it does hereby ratify and approve that lease agreement
between Jinco Leasing Corp. and the City of Aspen for the lease of
a John Deere 772 A Six Wheel Drive Motor Grader, with 14 foot mold
board with heavy duty cutting edges, other equipment included and
12 foot Henke snow wing, Serial No.. ~-/
which agreement provides for one advance payment of $10,000 and 20
consecutive quarterly payments of $5,043.64 at a simple interest
rate of 9 1/4%. All insurance on this vehicle is to be maintained
by the City. All such other common contract provisions as are
specified in the agreement itself (on file in the office of the
Director of Finance of the City of Aspen) are also hereby ratified
and approved.
Section 2
The provisions of this ordinance shall become effective
November 1, 1980.
RECORD OF PROCEEDINGS
100 Leaves
STATE OF COLORADO )
) ss
COUNTY OF PITKIN )
CERTIFICATE
I, Kathryn S. Koch, City Clerk of Aspen, Colorado,
do hereby certify that the above and foregoing ordinance was
introduced, read in full, and passe~ on ~
reading at a regular meeting of the City Council of the
City of Aspen on ~~.4~:,~? , 1~ and published
in the Aspen Tines a weekly newspaper of general circul-
ation, published in the City of Aspen, Colorado, in its
issue of ~~-c~ ~ , 1~C3, and was finally adopte
and approved, at a regular meeting of the City Council on
-J~ /_~ , 1~', and ordered published as
Ordinance No. ~-- Series of
provided by law.
1~, of said City, as
IN WITNESS WHEREOF, I have hereunto set my hand and
the seal of said City of Aspen, Colorado, this /~%~
day of ~ , 1~.
SEAL
Kate, City Clerk
Deputy City Clerk
RECORD OF PROCEEDINGS
Section 3
1 O0 Leaves
If any section, subsection, sentence, clause, phrase or
portion of this ordinance is for any reason held invalid or
unconstitutional by any court of coInpetent jurisdiction, such
portion shall be deemed a separate, distinct and independent
provision and such holding shall not affect the validity of the
remaining portions thereof.
Section 4
A public hearing on the
day of ~~
~, 1980, at 5:00 P.M.
City Council Chambers, Aspen City Hall, Aspen, Colorado.
INTRODUCED, READ AND ORDERED published as provided by law by
the City Council of the City of Aspen, Colorado, at its regular
meeting held on the _~7~--~day of ~~ , 1980.
ATTEST;
ordinance shall be held on the ~0~-~
in the
He rr~an Ed~l
Mayor
Kathryn S RochA
City Cler~
FINALLY adopted, passed and approved
ATTEST:
on the ./~ay of
, 1980.
He'rman Edel
Mayor
~athryn S~/Kock/
City Cler~