Return
to Town Hall PageSpecial Town Meeting
Tuesday - February 2, 1999 - 7 PM - Prospect Firehouse
Vote to approve Lease/Purchase of new Pumper/Tanker
At this meeting, the new
Pumper Tanker was unanimously
approved by the approximately 50 residents who attended.
PROSPECT NOTICE
SPECIAL TOWN MEETING
Notice is hereby given to those persons eligible to vote at a Town Meeting in the Town of Prospect, that the Special Town Meeting will be held on February 2, 1999 at 7 P.M. at Prospect Fire Headquarters, 26 New Haven Road in Prospect for the purpose of considering and acting upon a proposal for a lease/purchase agreement for a 1999 Pumper/Tanker, in substantially the form as that on file in the office of the Prospect Town Clerk.
AGENDA ITEMS
1. To authorize the execution, delivery and performance of a lease of
a new Pierce Tanker/Pumper Truck substantially in the form of the lease/purchase agreement
as on file in the office of the Prospect Town Clerk, at a maximum principal cost of
$338,600.00, payable as a $50,000 down payment and the balance to be financed through the
lease over a term of not more than five (5) years at an interest rate not to exceed 5.05%
per annum.
2. Whereas, it is deemed to be in the best interest of the Town of Prospect, Connecticut
(the ’’Town’’) to authorize the execution, delivery and performance of
a lease of a new Pierce Pumper/Tanker Truck (the ’’Truck’’) for and on
behalf of the Town;
Whereas, it proposed that the acquisition of the Truck be made pursuant to the Master
Lease/Purchase Agreement by and between the Town and Banc One Leasing Credit Corporation
(the ’’Agreement’’), a copy of the draft Agreement being presented to
this meeting.
NOW, THEREFORE, IT IS HEREBY RESOLVED:
1. That the Town be and hereby is, authorized to acquire the Truck
for and on behalf of the Town, at a maximum principal cost of $338,600.00 payable as a
$50,000 down payment and the balance to be financed at not more than 5.05% per annum, over
not more than five years.
2. That the Town acting through the Mayor be, and hereby is authorized to execute and
deliver the Agreement in substantially the same form as is on file in the office of the
Prospect Town Clerk.
3. That the Town is authorized to retain the law firm of Carmody & Torrance LLP as
counsel in connection with the execution and delivery of the Agreement and to render a
legal opinion in connection therewith pursuant to the terms of the agreement.
4. That the Mayor and Treasurer be, and hereby are authorized to do any and all other acts
that it deems necessary or appropriate in furtherance of the foregoing resolutions,
including the right to determine the amount, date, rate of interest or other payments,
term and other particulars with respect to the lease financing.
5. That the Mayor and Treasurer, acting alone or with the concurrence of the Town Council
are authorized to designate, if appropriate, the Agreement as qualified tax exempt
obligation for purposes of Internal Revenue Code Section 265(b)(3).
Dominic N. Moschella
Chairman, Town Council
Dated this 22nd day of January, 1999
At Prospect, Connecticut
JANUARY 23, 1999