1972/01/03 City Council ResolutionThe Rohnert Park City Council does hereby resolve as
follows:
1. It is necessary and proper for City purposes for the
City to lease one Massey-Ferguson MF-20 Tractor, one Jacobsen
7-Gang Fairway Mower and one Jacobsen Sod Master Sod Cutter
for City purposes in maintaining City property.
2. The Council has determined that the sum of $212.80
is a reasonable sum for monthly rental of this equipment for use
by the city, on an annual lease of $2,553.60.
3. It is further determined in the best interests of
the City that said lease agreement provide for certain rental
option periods not to exceed a total of three years, at the
conclusion of which time the City has the option to acquire
said equipment and receive a bill of sale therefor as provided
in said agreement.
4. That the agreement attached hereto entitled Lease
Option Agreement by and between North Bay Tractor Co. and the
City of Rohnert Park is reasonable and proper to meet the best
needs of the City and the City does hereby consent to the
assignment of said lease to the Exchange Bank, a California
corporation, of Santa Rosa, California, by said lessor, and
authorizes the Mayor to execute said attached Lease Option
Agreement on behalf of the City.
Duly adopted this 3rd day of January, 1972.
AYES: (5) Councilmen Buchanan, Flores, Roberts,
Smith, and Hopkins
NOES: (0) None
ABSTAIN: ( 0) None
ABSENT:
(0) None
�
ATTEST:
Deputy y C'# Cler
2/
R
LEASE OPTION AGREEMENT
TH IS AGRUMFNT, m��(Jle and entered into the day of January
19 72 , by and between North nay Tractor C", hereinafter cal led "Lessor"
and City of Rohnert Park in the County of Sonoma, State of California,
hereinafter called "Lessee."
WITNESSETH:
That Lessor hereby leases unto he Lessee and Lessee hereby hires of and
from Lessor, the following described property, to wit:
1. One Massey-Ferguson MF - -20 Tractor
2. One Jacobsen 7 -Gang Fairway Mower
3. One Jacobsen Sod Master Sod Cutter
for the por i od of one year from and including the 15th
day of January , I �2 to and including the 14 th day of January
1973 , for the xa mAWxzk annual payment of
Doi I ars ($ 2,553.60) which rental for said period is to be paid 'in per iodic
payment � s follows: Monthly payments commencing 1/15/72 and monthly
thereafter of $212.60 each.
by said Le sue to said Lessor.
In consideration of said rentals and of sIrict performance of the agreements
on the part of Lessee hereinafter contained, Lessee shall have and is hereby
granted an irrevocable option to renew this lease for the period of one year—,
f turn rrnn l including I lw 15 day of January , 19 73 , In and i nc i ud-
i nq I lw" 14 d,1y of January 10 74 f<,r 14, =kxImmix annual payment
(9:2,553.60) provided naKj nl Iii tw p<ii(! 1(-) hr -,;o
in periodic payment as fol lows: Monthly payments commencing 1/15/73 and
-- monthly thereafter of $212.80 each.
alld an i r r r_:wowW o epA ion to renew .:mc for cH101 4'r
period 1horenfler, from and including the 15
19 74 , to and including the 14 day of
one year-
dny of January ,
January 19 75 for
(2)
j[jr_, annual payment of
2,553.60
provided s<jme <miount to be paid Lessor in per iodic payrnen-l- as follows:
Monthly payments commencing 1/15/74 and monthly thereafter
of $212.80 each.
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