RESOLUTION NO. RS2000-311
A resolution authorizing the Metropolitan Board of Public Education to incur debt in an amount not to exceed $90,921.00, for the lease/purchase of a printing press over a term of five (5) years.
Whereas, the Metropolitan Board of Public Education (the "Board") needs a new printing press for the use of Metropolitan Public Schools; and,
Whereas, after determining that sufficient funds were not available in its current budget to purchase a new printing press, the Board's staff requested the assistance of the Purchasing Agent to procure a lease/purchase of a printing press; and
Whereas, the Purchasing Agent issued an Invitation to Bid (I.T.B.) for a lease/purchase of a printer; and,
Whereas, Taylor Impressions submitted the lowest responsive bid, in the amount of $90,921.00, to be paid in monthly installments of $1,515.35 over a term of five (5) years; and
Whereas, this lease/purchase would be considered to be an assumption of debt by the Office of the Comptroller of the Treasury for the State of Tennessee; and,
Whereas, leases of equipment by the Board are not subject to approval by the Metropolitan Council under Section 5.04.020 of the Metropolitan Code; and,
Whereas, even though the Metropolitan Council would not approve the lease/purchase agreement with Taylor Impressions, the contract has not been executed because the Metropolitan Government cannot assume a debt without the approval of the Metropolitan Council; and,
Whereas, it is in the public interest that the Board proceed with the acquisition of a new printing press.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the assumption of debt in an amount not to exceed $90,921.00 for the lease/purchase of a printing press for the Metropolitan Board of Education over a term of five (5) years, said funds to be taken from the operating budget for the Metropolitan Board of Public Education, be and the same is hereby approved.
Section 2. That this Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Eileen Beehan
& Finance Committee
|Introduced:||August 15, 2000|
|Adopted:||August 15, 2000|
|Approved:||August 18, 2000|