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M. A. Galbraith, Jr. City Attorney Boca Raton

QUESTION:

May the City of Boca Raton finance the purchase of a computer under an agreement which grants a finance company-assignee of the agreement a security interest in the computer without the approval of the voters of the City of Boca Raton?

SUMMARY:

Until judicially determined to the contrary, the City of Boca Raton may not finance the purchase of a computer under a sale and purchase agreement and financing arrangement granting a security interest in the equipment, with an accompanying right of foreclosure or other remedy at law or in equity to…