HomeMy WebLinkAboutBPW-02-01-06-07 Bond Bank/CPD
RESOLUTION NO. BPW-02-0l-06-07
A RESOLUTION OF THE CITY OF CARMEL BOARD OF PUBLIC WORKS AND SAFETY
APPROVING THE ASSIGNMENT OF EQUIPMENT FOR THE CARMEL POLICE
DEPARTMENT TO THE INDIANA BOND BANK
WHEREAS, in accordance with the provisions of Indiana Code 5-22-2, bids for the purchase of
the equipment ("Equipment") listed on attached Exhibit A, incorporated herein by this reference, were
received and approved; and
WHEREAS, the assigl1ment of such Equipment to the Indiana Bond Bank in accordance with the
provisions of Indiana Code 5- 1.5 is in the best interests of the City of Carmel, Indiana ("City"); and
NOW, THEREFORE, BE IT RESOLVED by the Board that the Equipment listed on attached
Exhibit A is hereby assigl1ed to the Indiana Bond Bank by means of that certain Schedule No. 6 to the
Master Lease-Purchase Agreement by and between the li1diana Bond Bank and the City and dated as of
April 20, 2004, a copy of which Schedule is attached hereto as Exhibit B.
BE IT FURTHER RESOLVED, that the Carmel Clerk-Treasurer ("Clerk-Treasurer") is hereby
authorized and approved to execute such documents related to the Equipment as are reasonable, lawful,
necessary and required in order to carry out the transaction authorized hereby, provided that the Clerk-
Treasurer shall have previously had such documents reviewed and approved by the Carmel City Attorney.
ALL OF WHICH IS RESOLVED by the City of Carmel Board of Public Works and Safety, this
/61 dayof F<JxuCr'<-/ ,2006.
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CARMEL BOARD OF PUBLIC WORKS AND SAFETY
By:
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mes Brainard, Presiding Of lcer
Date:
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MaryA Burke, Member
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iana L. Cororay,
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EXHIBIT A
EXHIBIT A
SCHEDULE OF EOUIPMENT
Carmel Police Department:
Fifteen (IS) 2006 Chevrolet Impala Police Package
$265,500.00
Four (4) 2006 Specialty vehicles
$70,800.00
Data processing (office and rugged PC's) and equipment for
Impalas, including light bars, electronics, sirens, accessories,
assorted emergency equipment, investigative equipment,
operations equipment, special investigative equipment and
support equipment
$260,000.00
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EXHIBIT A
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City of Carmel, Police, Schedule No. 006 to Master Lease-Purchase Agreement dated April 20, 2004
Indiana Bond Bank HELP iease schedule assigned to Fifth Third Bank (Central Indiana)
Preliminary quotation-Rate and payments assume current market and are subject to change until closed.
Compound Period Monthly
Nominal Annual Rate 4.89 %
Event
1 Loan
2 Payment
Start Date Amount Number
3/6/2006 600,000.00
4/1/2006 81,847.05
Period End Date
1
8 Semiannual 10/1/2009
AMORTIZATION SCHEDULE - Normal Amortization, 360 Day Year
#
Loan
2006 Totals
2007 Totals
2008 T otais
2009 Totals
Grand Totals
Date Payment Interest Principal Balance
3/6/2006 600,000.00
1 4/1/2006 81,847.05 2,119.00 79,728.05 520,271.95
2 10/1/2006 81,847.05 12,850.95 68,996.10 451,275.85
163,694.10 14,969.95 148,724.15
3 4/1/2007 81,847.05 11,146.71 70,700.34 380,575.51
4 10/1/2007 81,847.05 9,400.38 72,446.67 308,128.84
163,694.10 20,547.09 143,147.01
5 4/1/2008 81,847.05 7,610.92 74,236.13 233,892.71
6 10/1/2008 .81,847.05 5,777.25 76,069.80 157,822.91
163,694.10 13,388.17 150,305.93
7 4/1/2009 81,847.05 3,898.30 77,948.75 79,8R16
8 10/1/2009 81,847.05 1,972.89 79,874.16 0
163,694.10 5,871.19 157,822.91
654,776.40 54,776.40 600,000.00
Last interest amount decreased by 0.04 due to rounding.
EXHIBIT e
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Hoosier Equipment Lease Purchase (HELP) Program
ApPLICATION
LESSEE INFORMATION
Name: City of Carmel
Address: One Civic Square
City: Carmel State: IN Zip: 46032
Federal ill: _35-6000972
BILLING ADDRESS (IF DIFFERENT):
Name: Carmel Police Dept.
Address: Three Civic Square
City: Carmel
State: IN
Zip: 46032
EQUIPMENT
Equipment Description (year, make, model):
(15) 2006 Chevrolet Impala Police package (cil $17.700. each
(4) 2006 Specialty vehicles. estimated cost (cil $17.700 each
Data processing (office and rugged PC's) and equip for Impalas
including light bars. electronics. sirens. accessories. assorted
Emergencv equipment. investigative equipment. Operations
Equipment. Special Investigative equipment and Support equip
Total other equipment cost = $260,000.00
ESSENTIAL USE
Is the equipment being purchased under the State's QPA?
Does the proposed equipment replace existing equipment?
If YES, what is the age and type of equipment being replaced?
Contact: Diana Cordray. Clerk-Treasurer
Phone: (317) 571-2414
Fax: (317) 571-2410
Email:_dcordray@ci.carmel.in.us
Contact:
Phone:
Tim Green
(317 ) 571-2519
Fax:
(317) 571-251
Ai'HOUNT
Equipment Cost: $600.000.00
Down Payment: ( -0- )
Trade-In: (-0-)
Amount Requested: $600.000.00
Expected Funding Date:_March 6, 2006_
Financing Term: 4 vears
Payment* (Annual/Semi/QtrlylMo):_Semi X_
First Payment Date: (preference): _April I, 2006-
Fund Used to pay for the Equipment _General
*Due the I" day of the month for any mode.
Yes
Yes X
Four - live vears
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No
No
[X ]
[ ]
If NO, why is the additional equipment needed?
What function does the proposed equipment perform? Public Safety
Do you anticipate issuing more than $10,000,000 in debt (including leases) during the current calendar year?
Yes_
EXHrBlT /J
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Please send application io: