HomeMy WebLinkAboutReso 2002-124 - Purchase of Fire Engine 4
RESOLUTION NO. 2002-124
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE EXECUTION AND DELIVERY OF FIVE-YEAR
MASTER LEASE AGREEMENT NO. 1442,EQUIPMENT SCHEDULE NO.
01,AN ESCROW AGREEMENT AND RELATED INSTRUMENTS—IN THE
PRINCIPAL AMOUNT NOT TO EXCEED $235,193.31—FOR THE
PURCHASE OF ONE TYPE II FIRE ENGINE FROM PIERCE FIRE
APPARATUS, INC.
WHEREAS:
A. The City of Redding, a Municipal Corporation (the "City"), is duly organized and
existing pursuant to the Constitution and laws of the State of California.
B. Pursuant to applicable law, the City Council is authorized to acquire, dispose of and
encumber real and personal property, including,without limitation, rights and interest in property,
leases and easements necessary to the functions or operations of the City.
C. The City Council desires to obtain certain equipment (the"Equipment") described in
Equipment Schedule No. 01 to the five-year Master Lease Agreement (collectively, the "Lease")
between SunTrust Leasing Corporation as Lessor and the City of Redding as Lessee, the form of
which has been made available for review in the Finance Division of the City prior to this meeting.
D. The Equipment is essential for the City to perform its governmental functions.
E. The funds made available under the Lease will be deposited with SunTrust Bank(the
"Escrow Agent") pursuant to an Escrow Agreement between SunTrust Leasing Corporation as
Lessor,the City as Lessee,and the Escrow Agent(the"Escrow Agreement"),and will be applied to
the acquisition of the Equipment in accordance with said Escrow Agreement.
F. The City has taken the necessary steps,including those relating to any applicable legal
bidding requirements, to arrange for the acquisition of the Equipment.
G. The City proposes to enter into the Lease with SunTrust Leasing Corporation, and the
Escrow Agreement with SunTrust Bank, substantially in the forms presented to this meeting.
NOW,THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of
Redding, as follows:
1. It is found and determined that the terms of the Lease and the Escrow Agreement
(collectively, the"Financing Documents")in the forms presented to this meeting and incorporated
in this resolution are in the best interests of the City(Lessee) for the acquisition of the Equipment.
2. The Financing Documents and the acquisition and financing of the Equipment under the
terms and conditions as described in the Financing Documents are hereby approved.
3. The aggregate original principal amount of the Lease shall not exceed$235,193.31 and
shall bear interest as set forth in the Lease.
4. The City Manager of Lessee and any other officer of Lessee who shall have power to
execute contracts on behalf of Lessee be, and each of them hereby is, authorized to execute,
acknowledge and deliver the Financing Documents with any changes, insertions and omissions
therein as may be approved by the officers who execute the Financing Documents, such approval
to be conclusively evidenced by such execution and delivery of the Financing Documents.
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5. The City Clerk is authorized to affix the official seal of Lessee to the Financing
Documents and attest the same.
6. The proper officers of Lessee be, and each of them hereby is, authorized and directed
to execute and deliver any and all papers, instruments, opinions, certificates, affidavits and other
documents and to do or cause to be done any and all other acts and things necessary or proper for
carrying out this resolution and the Financing Documents.
7. This resolution shall take effect from and after its adoption.
I HEREBY CERTIFY that the foregoing resolution was introduced, read and adopted at
a regular meeting of the City Council of the City of Redding on the 20th day of August,2002,by the
following vote.
AYE: COUNCIL MEMBERS: Cibula, McGeorge, Pohlmeyer, Stegall and Kight
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
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PAT KIGHT, Ma" r
Attest: Form Approved:
, ' lr , / -1),.-::0 E n
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Connie Stro mayer, Ci/ 1' k David F. Tranberg,Acting City ' orne.
CERTIFICATION
The undersigned City Clerk of the City of Redding hereby certifies and attests that (1) she has
access to the official records of the City Council of the City of Redding; (2) that the foregoing
resolution adopted by the City Council on August 20,2002, has not been repealed or amended and
remains in full force and effect as of this date; and (3)the Lease and Escrow Agreement executed
on behalf of Lessee are the same as presented at such meeting of the governing body of Lessee,
excepting only such changes, insertions and omissions as shall have been approved by the officers
who executed the same.
Dated: August V, 2002 _.L. . _ , _
Connie Strohm-yer, City Cleo,
City of Redding
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