HomeMy WebLinkAboutBPW-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~
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