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104 <br /> <br />A RESOLUTION AUTHORIZING THE PURCHASE OF FIFTEEN SCHOOL <br />BUSES, NINE TRUCKS, ONE AUTOMOBILE, ONE TRACTOR AND OTHER <br />MAINTENANCE EQUIPMENT FOR THE PORTSMOUT~ PUBLIC SCHOOLS. <br /> <br /> WHEREAS, Portsmouth Public Schools has made arrangement <br />to acquire fifteen school buses, nine trucks, one automobile, <br />one tractor and other maintenance equipment to replace the <br />existing fleet and maintenance equipment; and <br /> <br /> WHEREAS, the method of purchase thereof is by <br />conditional sales agreement to be issued by Sovran Leasing <br />Corporation for a term of five years; and <br /> <br /> WHEREAS, such method of purchase shall not result in <br />further obligation to the City of Portsmouth beyond the <br />amount appropriated to the School Board for any current year <br />and may be terminated by the School Board for subsequent <br />years in the event funds are not appropriated. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Portsmouth, Virginia, that the School Board of the <br />City of Portsmouth, Virginia, be, and hereby is, authorized <br />to purchase fifteen school buses, nine trucks, one <br />automobile, one tractor and other maintenance equipment in <br />the aforesaid manner. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held October 1, 1985. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />