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RESOLUTION NO. R2015-56 <br /> RESOLUTION AUTHORIZING THE CITY MANAGER <br /> TO ENTER INTO AN AGREEMENT WITH PNC EQUIPMENT FINANCE TO LEASE PURCHASE <br /> TEN (10)2015 FORD POLICE INTERCEPTOR MID SIZE UTILITY VEHICLES <br /> AND VEHICLE ACCESSORY EQUIPMENT PACKAGE <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DECATUR, ILLINOIS: <br /> Section 1. That the City Manager be, and he is hereby, authorized to enter into a 24-month lease <br /> purchase agreement with PNC Equipment Finance, a subsidiary of PNC Bank, to purchase ten (10) 2015 <br /> Ford Police Interceptor Mid Size Utility Vehicles and accessory equipment package, with terms and <br /> conditions as acceptable to the City. <br /> Section 2. That the annual interest rate will be 1.278%, the quarterly payments will be$36,456.00 <br /> and the total cost over two years will be$291,648.00. <br /> PRESENTED and ADOPTED this 18th day of May, 2015. <br /> IC AE T. McE , MAYOR <br /> ATTEST: <br /> 44 &1�L <br /> CITY CLERK <br />