HomeMy WebLinkAboutBPW-12-15-99-06 5/3 Purch AgreeAPPROVED, AS TO
RESOLUTION NO. BPW-12-15-99-06 FOJllJilJ BY: ~'~ ....
A RESOLUTION OF THE CITY OF CARMEL BOARD OF PUBLIC WORKS AND SAFETY
APPROVING A CARMEL FIRE DEPARTMENT LEASE PURCHASE AGREEMENT
WITH FIFTH THIRD BANK
WHEREAS, the City of Carmel, Indiana (the "City") entered into a Master Lease-
Purchase Agreement ("Agreement") with Fifth Third Bank, Indiana on January 28, 1999, incorporated
herein and made a part hereof by this reference, to finance the purchase of certain equipment as is more
fully described in the Agreement; and
WHEREAS, the City of Carmel, Indiana, Fire Department (the "City"), desires to enter into an
extension of the Agreement with Fifth Third Bank, to finance the lease-purchase of certain motor vehicle
equipment; and
WHEREAS, the City of Carmel Board of Public Works and Safety finds that this extension of
the Agreement is in the best interests of the City,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS AND
SAFETY OF CITY OF CARMEL, INDIANA, as follows:
The City hereby agrees to be bound by the terms of the Agreement and its lease-purchase
extension documents for Fire Department motor vehicle equipment now in the custody of the
Carmel Clerk-Treasurer, which documents are incorporated herein and made a part hereof by this
reference.
Passed and Approved by the Board of Public Works and Safety of the City of Carreel, Indiana,
this }_~ day of De.('~m~,l~f" , 1999, by a vote of ~ ayes and (') nays.
Bur , Member
Bill~lker, Merri~er
Date
Diana L. Cordray, IA asurer Date
EXHIBIT E
OPINION OF CITY ATTORNEY
FIFTH THIRD BANK, INDIANA
25 1 NORTH ILLINOIS STREET, INDIANAPOLIS, IN 46204
Master Lease-Purchase Agreement dated as of JANUARY 28, 1999, by and between FIFTH THIRD
BANK, INDIANA (Lessor) and CITY OF CARMEL, CARMEL POLICE DEPARTMENT (Lessee),
Individual Payment Schedule No. 2.
Gentlemen:
I represent the City of Carmel, Indiana, the Lessee herein, and have in such capacity now reviewed the
referenced Schedule No. 2 ("Schedule").
Based upon my examination of the foregoing, it is my opinion that:
Lessee is a Third Class City and political subdivision of the State of Indiana, duly organized,
existing and operating under the Constitution and laws of that State.
Lessee is authorized and has power under applicable law to enter into the Schedule and to carry
out its obligations thereunder and the transactions contemplated thereby.
The Schedule has been duly authorized, approved, executed and delivered by and on behalf of
Lessee, and constitutes a valid and binding obligation of Lessee enforceable in accordance with
the terms thereof, except as enforceability may be limited by law, including applicable bankruptcy,
reorganization or other similar laws of general application relating to or affecting the rights of
creditors.
The authorization, approval and execution of the Schedule have been performed in accordance
with all applicable open meeting laws, public bidding laws and other applicable laws of the State
of Indiana.
There is no action, suit or proceeding pending or, to the best of my knowledge, threatened against
Lessee, before any court, administrative agency, arbitrator or governmental body, that challenges
the existence or organization of the Lessee, the title of any of the present officers of the Lessee to
their respective office, the authority or proceedings regarding the execution and delivery of the
Schedule, the appropriation of moneys to make payments pursuant to the Schedule, or the
authority of the Lessee to otherwise perform its obligations under the Schedule.
Very truly yours,
~ glas C. Haney
[cb:msword:/,la~,e bass',my documcnts',agrccmcnts,~fihthirdschcdulcx-edoc: 12/I 1/99]
City of Carmel
Fire Department Headquarters
2 CIVIC SQUARE
CARM~L, INDIANA 46032
3171571-2600
December 2, 1999
Fifth Third Bank
251 N. Illinois Street
Suite 100
Indianapolis, IN 46204
Mike Gilmore, Vice President
Commercial Equipment Leasing
RE: / / Request for Quotation
This is an invitation to quote municipal lease rates for lease/purchase of the following vehicles:
!- 1999 ~ Ton 4-wheel drive Yukon LT
1- 1999 '~ Ton 4-wheel drive Suburban LS
1- 1999 ~ Ton 4-wheel drive Suburban LS
2- 2000 ~ Ton 4-wheel drive Silverado LS
Total approximate lease/purchase amount required $160,000.00
REQUIREMENTS:
Lease terms agreements must include rates for four and five year terms along with a $25,000.00 down
payment.
Payments to be made bi-annually each year.
Fixed rates financing options only will be considered.
Agreement must allow the City of Carmel to purchase vehicles at the end of the lease period for $1.00 or less.
Drop charges will not be paid should the City decide to return the vehicle(s) at the end of the term.
Agreement must allow the City of Carmel to purchase the vehicle prior to the end of the lease period. The
payoff amount will be equal to the principal balance plus any service costs. Please provide a summary of
service costs that would be incurred at the time of early redemption. These costs should be able to be
calculated based on the information supplied in the proposal.
Office of leasing institution must be in Indiana with one individual as a point of contact.
Detail any other items not mentioned above that may have an impact on the lease/purchase agreement.
Quotations provided pursuant to this request shall remain fnced and valid for a period of 30 days from the
date of quotation.
Timetable
- Response to this RFQ - 12/7/99 by 4:00 p.m.
- Award of Business 12/16/99, upon Carmel Board of Public Works and Safety approval at
the 12/15/99 meeting.
Questions may be directed to Fire Chief Douglas Callahan at 317-57 !-2600.
Respectfully,
Douglas Callahan
Fire Chief
Fire Prevention Saves Lives and Property