Resolution 10541CITY OF ALAMEDA RESOLUTION NO.
10541
AUTHORIZING EXECUTION OF AGREEMENTS WITH SECURITY
PACIFIC CAPITAL MARKETS GROUP FOR THE LEASE PURCHASE
OF A DATA PROCESSING SYSTEM
WHEREAS, the City entered into an agreement with the Warner
Group in March, 1984 to perform an analysis of the City's elec-
tronic data processing requirements; and
WHEREAS, said Group has recommended that the first phase
of the City's information system to be implemented be the
financial reporting system; and
WHEREAS, the most common method of financing this type
of acquisition is through a lease-purchase contract; and
WHEREAS, Security Pacific National Bank is experienced
in this field and has offered the most favorable terms; and
WHEREAS, a Municipal Lease and Option Agreement, an
Agency Aareement and an Escrow Agreement have been submitted
to the City and the Council is fully informed and aware of the
terms and conditions thereof; and
WHEREAS, it is in the best interests of the City of
Alameda that said agreements be entered into;
NOW, THEREFORE, BE IT RESOLVED by the Council of the
City of Alameda that the Mayor of the City of Alameda is hereby
authorized and directed to execute, for and on behalf of the
City, those certain agreements entitled Municipal Lease and
Option Agreement, Agency Agreement and Escrow Agreement by and
between the City of Alameda and Security Pacific Capital Markets
Group. a Division of Security Pacific National Bank, a National
banking association, for the lease purchase of a data processing
system. The City Clrk is authorized to attest to same.
I, the undersigned, hereby certify that the foregoing Resolution
was duly and regularly adopted and passed by the Council of the
City of Alameda in regular meeting assembled on the 5th of February, 1985,
by the following vote to wit:
AYES: Councilmembers Gorman, Hanna, Lucas, Monsef and President Diament - 5.
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this 6th day of February, 1985.
City C - -' of the aty of'Alamedp