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ORD 1983-04 - CO BackhoeORDINANCE NO. 83 -4 AN ORDINANCE APPROVING CLAIM AND DELIVERY OF CERTIFICATE OF OBLIGATION; AND CONTAINING OTHER PROVISIONS RELATED HERETO. WHEREAS the City Council of the City of Huntsville, Texas (City), by Ordinance No. 82 -38, found that it was advisable for the City to purchase a tractor with backhoe and front loader attachments; and that a Certifi- cate of Obligation be issued by the City for all or any part of the cost of same; and WHEREAS the notice for said action was published at the times and in the manner required by law; and WHEREAS the City awarded a contract to Hyco Equipment Co., Inc. (Contractor), Houston, Texas, in the amount of $57,785.00 as the lowest and best bid for the purchase of a tractor with backhoe and front loader attachments; and WHEREAS the City Council wishes to authorize payment thereof and delivery of said Certificate of Obligation: THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS, that: Section 1: There is now due and owing to the Contractor the sum of $57,785.00. Section 2: The Certificate of Obligation herein authorized to be delivered shall bear interest at the rate of 7.90 % per annum from date of initial delivery shown on the face of such certificate. Section 3: There shall be executed and delivered to said Contractor a certificate of the City of Huntsville, Texas, Equipment Acquisition Certificate of Obligation, dated November 16, 1982. Section 4: The Mayor, City Secretary and other appropriate City officials are hereby authorized and directed to deliver said Certificate and to do any and all things necessary or convenient to carry out the terms of this ordinance. INTRODUCED, READ AND PASSED by the unanimous vote of the City Council of the City of Huntsville, Texas, on this the 4th day of January, 1983. William V. Nash, Mayork-- ATTEST: (I:1sir''(/ uth DeShaw, City Secretary APPROVED: Scott Bounds, City Attorney