HomeMy WebLinkAboutReso 2010-148 - Oshkosh Master Lease-Purchase
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RESOLUTION NO. 2010 - 148
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE MASTER LEASE-PURCHASE AGREEMENT WITH
OSHKOSH CAPITAL FOR THE PURCHASE OF FIRE EQUIPMENT
WHEREAS, the City of Redding is a municipal corporation and general law city duly
organized and existing pursuant to the Constitution of the State of Cali fomi a; and
WHEREAS, pursuant to applicable law, the City Council of the City of Redding 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 of the
municipality; and
WHEREAS, the City Council hereby finds and determines that the execution of one or more
Master Lease-Purchase Agreements ("Leases") in the principal amount not exceeding the amount
stated below for the purpose of acquiring the property ("Equipment") to be described in the Lease
is appropriate and necessary to the functions of the City of Redding; and
WHEREAS, Oshkosh Capital ("Lessor") shall act as Lessor under said Lease.
NOW, THEREFORE, be it ordained by the City Council of the City of Redding:
1. The City Manager, acting on behalf of the City of Redding, is hereby authorized to
negotiate, enter into, execute, and deliver one or more Leases in substantially the
form set forth in the document presently on file with the City Clerk, which document
is available for public inspection at the Office ofthe City Clerk. The City Manager
is hereby authorized to negotiate, enter into, execute, and deliver such other
documents relating to the Lease as the City Manager deems necessary and
appropriate. All other related contracts and agreements necessary and incidental to
the Leases are hereby authorized.
2. By a written instrument signed by the City Manager, the City Manager may designate
specifically identified officers or employees of the City of Redding to execute and
deliver agreements and documents relating to the Leases on behalf of the City of
Redding.
3.
The aggregate original principal amount ofthe Lease shall not exceed Two Hundred
and Sixty-Eight Thousand Seven Hundred and Seventy Dollars ($268,770.00) and
shall bear interest as set forth in the Leases and the Leases shall contain such options
to purchase by the City of Redding as set forth therein.
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4.
The City of Redding's obligations under the Leases shall be subject to annual
appropriation or renewal by the City Council as set forth in each Lease, and the
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Municipality's obligations under the Leases shall not constitute general obligations
ofthe City of Redding or indebtedness under the Constitution or laws of the State.
5. This Resolution shall take effect immediately upon its adoption and approval.
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 17th day of August, 2010, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Bosetti, Dickersony
None /
None
None
rthUl:, Stegall, and Jones
ATTEST:
FORM APPROVED:
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