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Home My WebLink AboutBPW-04-07-04-01 IN Bond BankRESOLUTION NO. BPW- 4-07-04-01 A RESOLUTION OF THE CITY OF CARMEL BOAR ) OF PUBLIC WORKS AND SAFETY APPROVING A LEASE WITH THE I~DIANA BOND BANI{ FOR THE CARMEL POLICE AND ENGINEERING DEPARTMENTS liana Code 5-22-2, bids/for the purchase of incorporated herein by ~his reference, were by the City, and that the execution of the Lease and Supplem~ BE IT FURTHER RESOLVED, that the delive: Treasurer") to the Indiana Bond Bank of the Lease and Suppl approved by the Board herein is hereby authorized and a authorized to execute such doCuments related to the Lease necessary and required in order to carry out the transactions: and required Supplements by the Board constituting conclusi BE IT FURTHER RESOLVED, that the Clerk-Tre: date a copy of the Lease and the Supplements, and to plac following the minutes of this meeting, and that said Leas Resolution as fully as if the same were set forth herein. BE IT FURTHER RESOLVED, that the Clerk-T~ execute on behalf of the City of Carmel any documents law~ Lease and/or the Supplements, including, but not limited behalf of the City, UCC financing statements and IRS Form Treasurer shall have previously had such documents reviewe, Page One of Two Pages ~ts is appropriate. ~ by the Carmel Clerk :ments in the form same proved, and the Clerk- md Supplements as are athorized hereby, the ex -Treasurer ("Clerk- ~re presented to and ['reasurer is hereby reasonable, lawful, :cution of the Lease e evidence of such approval. ;urer is authorized and ~irected to initial and the same in the minute book immediately and Supplements are made a part of this ..asurer is hereby authorized and directed to d, necessary, reasonable and required by the ), Certificates of Accel tance, affidavits on 8038GC or 8038G, pro~ ided that the Clerk- and approved by the Ca axqel City Attorney. WHEREAS, in accordance with the provisions of Ir the equipment ("Equipment") listed on attached Exhibit A, received and approved; and WHEREAS, the assignment of such bids to the diana Bond Bank in a~cordance with the provisions of Indiana Code 5-1.5 is in the best interests ofth~ 2ity of Carmel, Indiana I"City"); and / WHEREAS, the Carmel Board of Public Works ant Safety ("Board") has h~d an opportunity to examine the proposed master equipment lease agreement b~tween the City of Carmel and the Indiana Bond Bank (the "Lease") and any supplements ("Suppleme~hts") thereto, which Lease, and Supplements are attached hereto and incorporated herein by this reference 4s Exhibits~B and C, resp?tively. / NOW, THEREFORE, BE IT RESOLVED by the~oard that the Equipme;t listed on attached Exhibit A is hereby assigned to the Indiana Bond Bank, that t e Lease and Supplements for the Equipment listed on Exhibit A provides for a fair and reasonable rental: )r the use and enjoymen[ of such Equipment ALL OF JWHICH IS RESOLVED by the City of C [armel Board of Public Works and Safety, this F~a;of ~ e7 ,2004. CARMEL BOARD OF PUBLIC WORKS AND SAFETY By: 0-..~. James Brainard, Presiding Officer Dat Lori S. W~tson. M/err~r , . Date: (.~..,'/--~" ~/"//0 ¢ Diana L. Corql, r_ay~LP/2V~.~, Cler~-]/reasurer BPW Resolution No. BPW-04-07-04-01 Page Two of Two Pages FIFTH THIRD BANK EXHIBIT A EQUIPMENT 16 Police Cars Plus Equipment 3 Trailblazers for Department of Engineering $592,640.00 $ 67,820.00 The above described Equipment is zeflected in Exhibit A. FIFTH THIRD BANK EXHIBIT B SCHEDULE OF PAYMENTS TENTATIVE AMORTIZATION SCHEDULE FOR POLICE AND ENGINEERING DEPARTMENTS DATE PAYMENT 04/12/2004 i 06/01/2004 88,887.78 2 12/01/2004 88,887.78 INTEREST PRINCIPAL BALANCE 660,460.00 i 3,563.39 85,324.39 575,135.61 11,540.52 77,347.26 497,788.35 3 06/01/2005 88,887.78 4 12/01/2005 88,887.78 9,988.49 78,899.29 418,889.06 8,405.32 80,482.46 338,406.60 5 06/01/2006 88,887.78 6 12/01/2006 88,887.78 6,790.38 82,097.40 256,309.20 5,143.03 83,744.75 172,564.45 7 06/01/2007 88,887.78 8 12/01/2007 88,887.78 Grand Totals 711,102.24 Last interest amount decreased by 0.03 due to rounding. 3,462.63 85,425.15 87,139.30 1,748.48 87,139.30 0 50,642.24 660,460.00 EXHIBIT C CERTIFICATE OF ACCEPTANCE The undersigned, Lessee under that Master Leas~-Purchase Agreement, dated as of June 7, 2000, Individual Equipment Schedule No. 9 hereby certifies that: A present need exists for the Equipment which need is not temporary or expected to diminish in the near future. The Equipment is essential to and will be used by Lessee only for the purpose of performing one or more governmental functions of Lessee consistent with the permissible scope of Lessee's authority. Lessee confirms that sufficient funds have been appropriated to make all Rental Payments due during its current fiscal year and expects and anticipates that sufficient funds will be available to make all Rental Payments due in subsequent years. The Equipment is covered by insurance in the types and amounts required by the Agreement and is located at the location set forth in the Exhibit A to the Agreement. No event of default, as such term is defined in the Agreement, and no event which with the giving of notice or lapse of time, or both, would become an event of default, has occurred and is continuing on the date hereof. The undersigned, Lessee, hereby certifies that the Equipment described in Exhibit A, has been delivered to, and installed at, the Equipment Lo~ation specified therein and, as between Lessor and Lessee, is in good working order and is hereby accepted. By: Name: Title: C-1 TRANSMISSION VERIFICATIONiREPORT TIME NAME FAX TEL SER.# 04/0?/2004 13:25 CLERK TREASURER 3175712410 317§712414 DATE,TINE FAX NO./NAME DURATION PAGE(S) RESULT MODE 04/0~ 13:23 93032035 00:0i:50 07 OK STANDARD ECM CITY OF.. CA..RMEL 'OFFICE OF THE C;L~.P,K..TREASURRR O~ C~c ~ri~,s CAlomeL, IN 46032 DATE: TO: FROM: FACSIMILI~ TRAN$~TTAL 317,571,2414, PHONE 317.571.2410 FAX Co~s: · (Including Cover) CITY OF OFFICE OF TIlE ON~ Cr~c SQtJAm~ C~h'vmL, IN 46(}32 ]DATE: To: FAX': FROM: FACSIMILE TRANSMITTAL 317.571.2414 PHONE 317,571.2410 F~X PAGES: (Including Cover) COMMZNTS~ Notice: The information contained in this facsimile message is legally privileged and confidential/nformation intended for the individual or entity to whom it is addressed. If the reader of this message is not the intended recipient, you are hereby notified that any dissern/nation, distribution or copying of this commun/catinn is strictly prohibited. If you have received this in error, please wnmediately notify us by telephone and return this original message To us ar the address above via the US Postal Service. Thank yOU.