R-88-1165 - 9/22/1988WHEREAS, the City of Round Rock has duly advertised for bids to
lease various equipment for use by the City, and .
WHEREAS, Citicorp, Inc., has submitted the lowest and best bid
to lease said equipment to the City, and
WHEREAS, the ,City Council wishes to accept the bid of Citicorp,
Inc., Now Therefore,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the bid of Citicorp, Inc., is hereby accepted as the lowest
and best bid, and the Mayor is hereby authorized and directed to
execute on behalf of the City a contract with Citicorp, Inc., for the
lease of various equipment.
RESOLVED this __ a _ day of September, 1988.
ATTEST:
NE LAND, City Secretary
C32RESCITIC
RESOLUTION NO. / /6J7Z
c
MIKE ROBINSON, Mayor
City of Round Rock, Texas
ESSENTIAL USE/SOURCE OF FUNDS LETTER
STATE AND MUNICIPAL LEASE/PURCHASE AGREEMENT
Citicorp North America, Inc.
601 Midland Avenue
Rye, New York 10580
Gentlemen:
RE: State and Municipal Lease /Purchase Agreement No.
This confirms and affirms that the Equipment described in the State and Municipal Lease /Purchase Agreement referred to above
(the "Lease") is essential to the function of the undersigned or to the service we provide to our citizens.
Further, we have an immediate need for, and expect to make immediate use of, substantially all such Equipment, which need is
not temporary or expected to diminish in the foreseeable future. Such Equipment will be used by us only for the purpose of
performing one or more of our governmental or proprietary functions consistent with the permissible scope of our authority.
Specifically, such Equipment was selected by us to be used as follows -
To perform duties of various municipal departments, to wit: Public Safety,
municipal planning, public works and government finance.
The estimated useful life of such Equipment based upon manufacturer's representations and our projected needs is
five years
Our source of funds for payments of the rent due under the Lease for the current fiscal year is
general fund revenues.
We expect and anticipate adequate funds to be available for all future payments of rent due after the current fiscal year for the
following reasons' Revenue sources for future operations are projected to provice
adequate financing for City services.
CNAVPG 1123 -EU 7 -87
Very truly yours,
Lessee
BY X
Date
CITICORPONORTH AMERICA
CITY OF ROUND ROCK
AUTHORIZED SIGNATURE
Mike Robinson /Mayor
PRINTED NAME AND TITLE
/al 18b'
AL ENTITY
Citicorp North America, Inc.
601 Midland Avenue
Rye, New York 10580
RE: Lease Agreement dated between
Gentlemen:
CNA /VP 11 -85
Citicorp North America, Inc. and
City of Round Rock
From the proceeds due to us under our Bill of Sale dated , relating to
the above Lease Agreement, you are hereby authorized and directed to pay the following sums to the
following parties:
$57,748.00 — City of Round Rock
Wire to:
Capitol City Savings
Austin, Texas
ABA No: 314970651
Credit: The City of Round Rock, Texas
General Fund
Acct #: 40800195
and remit the balance of $ n directly to us.
The foregoing instructions have been authorized by the Board of Directors of the undersigned corporation.
By:
Date.
BILL OF SALE
KNOW ALL MEN BY THESE PRESENTS, that City of Rnund Rnr•.k
a Texas corporation, with its principal place
of business at 221 East Main, Round Rock. Texas 78664
(Street) (City and State)
(herein "Seller "), for and in consideration of the sum of:
Fifty Seven Thnusand Seven Hnnfred Forty Eight and 00/100 Dollars
lawful money of the United States of America paid by Citicorp North America, Inc. (herein "Buyer"), at or before the execution and
delivery of these presents, the receipt of which is hereby acknowledged, does hereby grant, bargain, sell, assign, transfer and set
over unto Buyer, its successors and assigns, all right, title and interest in and to the following personal property:
together with all parts and accessories attached thereto (all such personal property, parts and accessories being herein
collectively called the "Equipment ").
TO HAVE AND TO HOLD, all and singular the Equipment to Buyer, its successors and assigns, for its and their own use and
benefit forever.
And Seller hereby warrants to Buyer, its successors and assigns, that immediately prior to the delivery of this Bit of Sale, Seller
had legal title to the Equipment and good and lawful right to sell the same, and that title to the Equipment is hereby duly vested in
Buyer free and clear of all claims, liens, encumbrances and rights of others of any nature; and Seller covenants and agrees with
Buyer, its successors and assigns, that it will warrant and defend such title forever against all claims and demands whatsoever.
IN WITNESS WHEREOF Seller has caused this Bill of Sale to be executed and delivered in its name this
day of S 19 8g
CNA /VP 6082
See Schedule A
Corporate Seal
By:
City of Round Ronk
2 44 (NA r 0/ ELLER)
(AU HORIZED SIGNATURE)
Mike Robinson /Mayor
(TYPED NAME AND TITLE)
2`1
EXHIBIT C AMORTIZATION SCHEDULE FOR MUNICIPAL LEASES
Seai- Annual in Arrears
CAPITAL COST 57,748.00
RATE 8.3200%
TENOR (YEARS) 3
PAYMENT 11,073.57
PAYMENT PAYMENT PRINCIPAL INTEREST PREPAYMENT
4 AMOUNT PAID PAID AMOUNT
1 11,073.57 8,671.25 2,402.32 50,058.29
2 11,073.57 9,031.97 2,041.59 40,845.67
3 11,073.57 9,407.70 1,665.86 31,249.81
4 11,073.57 9,799.06 1,274.50 21,254.77
5 11,073.57 10,206.71 866.86 10,843.93
6 11,073.57 10,631.30 442.26 0.00
CITY OF ROUND ROCK
BY:
2. Secured Party(ies) Nome and Moiling Address:
CITICORP NORTH AMERICA, INC.
601 Midland Avenue
Rye, New York 10580
1. Debtor(s) Name and Mailing Address: (Do not abbreviate)
CITY OF ROUND ROCK
221 Fast Main
Round Rock, Texas 78664
Microfilm Index Number: (Filing Officer's Use Only)
4. Assignee Name and Mailing Address: •
1
5. This Financing Statement covers the following types (or items) of property.
(WARNING.If collateral Is crops, fixtures, timber or minerals, read instructions on back.)
See Schedule A
Check only n Products of collateral are also covered.
if applicable
n This Financing Statement is to be filed for record
in the real estate records. Number of additional sheets presented
6. This Financing Statement is signed by the Secured Party instead of the Debtor to perfect a security interest in collateral
Q already subject to a security interest in another jurisdiction when it was brought into this state, or when the debtor's location was changed to this state, or
I= already sullied to a financing statement filed in another county, or
l�
which is proceeds of the original collateral described above in which a security Interest was perfected, or
(] as to which the filing has lapsed, or
acquired after a change of name, Identity or corporate structure of the debtor.
Check
appropriate
box
By
CITY OF ROUND ROCK
Use whichever signature line is applicable CITIODRP NORTI' AMERICA, INC.
By
Signature(s) of Debtors) Signature(s) of Secured Party(ies)
3. Date, Time, Number and Filing Office: (Filing Officer's Use Only)
This Financing Statement Is presented to a Filing Officer for filing pursuant to the Uniform Commercial Code- REGISTRE INC. BOX 218, ANOKA MN 55303 (612) 4214713
(1) Filing Officer CopyNumerisal STANDARD FORM —FORM UCC.t (Rev 11071 0 1586 OFFICE OF THE SECRETARY OF STATE OF TEXAS
EXHIBIT B to
STATE AND MUNICIPAL LEASE/PURCHASE AGREEMENT
To: Citicorp North America, Inc.
Reference is made to the State and Municipal Lease /Purchase Agreement between the undersigned ( "Lessee "), and
Citicorp North America, Inc. ( "Lessor"), dated ( "Lease ") and to the Equipment
as such term is defined therein. In connection therewith we are pleased to confirm to you the following:
1. All of the Equipment has been delivered to and received by the undersigned; that all installation or other
work necessary prior to the use thereof has been completed; that said Equipment has been examined and /or
tested and is in good operating order and condition and is in all respects satisfactory to the undersigned and
as represented, and that said Equipment has been accepted by the undersigned and complies with all terms
of the Lease . Consequently, you are hereby authorized to pay for the Equipment in accordance with the terms
of any purchase orders for the same.
2. In the future, in the event the Equipment fails to perform as expected or represented we will continue to honor
the Lease in all respects and continue to make our rental and other payments thereunder in the normal course
of business and we will look solely to the vendor, distributor or manufacturer for recourse.
3. We acknowledge that Lessor is neither the vendor nor manufacturer or distributor of the Equipment and has no
control, knowledge or familiarity with the condition, capacity, functioning or other characteristics of the
Equipment.
4. The serial number for each item of Equipment which is set forth on Exhibit A to the Lease is correct.
This certificate shall not be considered to alter, construe, or amend the terms of the Lease
CNAIVPG 1123 -b 7 -87
kiret—
r IV ) Witness
DELIVERY AND ACCEPTANCE CERTIFICATE
Lessee*
By
Date:
CITICORPONORTH AMERICA
CITY OF ROUND ROCK
vitA uni 'pal ntity)
(Authorized Signature)
Mike Robinson /Mayor
(Printed Na a and Title)
1/L
� �8
EXHIBIT A to
STATE AND MUNICIPAL LEASE/PURCHASE AGREEMENT
DESCRIPTION OF EQUIPMENT
Quantity
Description of Leased Equipment (Make, Kind, Model No Serial No., Any Other Pertinent Identification)
SEE ATTACHED SCHEDULE A
ADDRESS: 221 East Main
CITY: Round Rock
STATE: Texas
LOCATION OF EQUIPMENT
COUNTY: Williamson
ZIP:
CITICORPONORTHAMERICA
78664
CERTIFICATION
Lessee hereby certifies that the description of the property set forth above constitutes an accurate account of the Equipment as
referred to in the Lease.
rNG war 1191_a 7_%7
Lessee:
By:
CITY OF ROUND ROCK
(Mu ryFipayEntity)
(Authorized Signature)
Mike Robinson /Mayor
(Printed Name and Title)
Date: /21 /37
TTY ITEM DEP1 DATE
ACQUIRED
1988 FORD CROWN
VIC OLICE CARS POLICE
i AT&T PHONE SETS POLICE '11-MAR-88 $400.00
MERLIN 5 LINE
MODULE POLICE 29-APR-88 $814.00
1. MERLIN 3070 SUPPLE
POWER POLICE 29 $472.00
MACINTOSH 00M-
MUNICATION
WORKSTATION FIRE
SCHEDULE A
ACTUAL
WST ID NUMBER
1988 FORD CROWN
25-MAY-88 649,784.00 2FABP72GXJX194875 VIC/LEIF JOHNSON 5/13
2FABP72GJX194877
2FABP72G1JX194876
2FABP72G5JX194878
3100 - TRC AT&T
61305A
61350A
2 -MAR-88 $3,128.00 M5025/A
3 RHINO ROTARY
MOWERS STREET 31-MAY $3,150.00 10019
M5251,DISK
M0116,XEYBOARD
A9M0334, MODEM
A9M0320, PRINTER
M0197, PERIPHERAL
M0556, HYPERCARD
10018
INVOICE
MANUFACTURER/VENDOR NUMBER
AT&T
AT&T
APPLE COMPUTER,INC 755901
WILLIAMSON COUNTY
EQUIP. W. INC. 12184
INITIALS
3097554326
3100708720
3100708720
22. ASSIGNMENT. Without Lessors prior written consent, Lessee shall not: (a) assign, transfer, pledge, hypothecate or grant any security interest in,
or otherwise dispose of, this Lease or the Equipment or any interest in this Lease or the Equipment or (b) sublet or lend the Equipment or permit the
Equipment to be used by anyone other than Lessee or Lessee's employees.
Lessor, without the consent of Lessee, may assign all or any portion or portions of its right, title and interest in and to this Lease, the Equipment and
any other documents executed with respect to this Lease, and /or grant or assign all orany portion or portions of its security interest in this Lease and
the Equipment, in whole or in part to various assignees, their agents or trustees each and any one hereinafter referred to as an "Assignee "). Any
such assignment to an Assignee may provide that Lessor or the Assignee shall act as a collection and paying agent for holders of certificates of
participation in this Lease, or may provide that a third -party trustee or agent shall act as collection and paying agent for any Assignee, provided
Lessee receives written notification of the name and address of the trustee or the agent and a copy of the pooling and fractionalization agency or
trustee agreement, if any. Any such Assignee shall have all of the assigned rights of Lessor under this Lease. Subject to the foregoing, this Lease
shall inure to the benefit of and is binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. Any assignment or
reassignment of any of Lessor's right, title or interest in this Lease or the Equipment shall be effective upon receipt by Lessee of a duplicate original of
the counterpart document by which the assignment or reassignment is made, disclosing the name and address of each such assignee and, where
applicable, to whom further payments hereunder should be made. During the Lease Term, Lessee covenants that It shall keep a complete and
accurate record of all assignments in form necessary to comply with Section 149(a) of the Code and the regulations, proposed or existing, from time
to time promulgated thereunder. Lessee agrees to acknowledge, in writing, any assignments if so requested.
LESSEE AGREES THAT, UPON NOTICE OF ASSIGNMENT, IF SO INSTRUCTED IT SHALL PAY DIRECTLY TO THE ASSIGNEE, OR ITS
TRUSTEE OR AGENT WITHOUT ABATEMENT, DEDUCTION OR SETOFF ALL AMOUNTS WHICH BECOME DUE HEREUNDER. LESSEE
FURTHER AGREES THAT IT SHALL NOT ASSERT AGAINST ANY ASSIGNEE, TRUSTEE OR AGENT ANY DEFENSE, CLAIM, COUNTERCLAIM
OR SETOFF ON ACCOUNT OF ANY REASON WHATSOEVER WITH RESPECT TO ANY RENTAL PAYMENTS OR OTHER AMOUNTS DUE
HEREUNDER OR WITH RESPECT TO ANY ACTION BROUGHT TO OBTAIN POSSESSION OF THE EQUIPMENT PURSUANT TO THIS LEASE.
23. NATURE OF AGREEMENT. Lessor and Lessee agree that it is their intention that, for federal income tax purposes, the interest of Lessor in the
Equipment is as a secured party and the interest of Lessee is as a debtor, and that Lessor neither has nor shall have any equity in the EquipmenL It is the
agreement of Lessor and Lessee that the aggregate rental payments provided for hereunder constitute the purchase price of the Equipment together with
Interest on the unamortized amount thereof over the term of this Lease, that each monthly installment of rent constitutes principal and interest, in
accordance with the schedule of rental payments set forth in Exhibit C of this Lease, which fully amortizes the purchase price of the Equipment, together
with interest, over the term of this Lease, and that upon the due and punctual payment and performance of the installments of Rental Payments and other
amounts and obligations under this Lease, title to the Equipment shall vest permanently in Lessee as provided in this Lease, free and clear of any lien or
security of Lessor therein.
24. AMENDMENTS. This Lease may be amended or any of its terms modified for the purpose of adding Equipment, with the written consent of the
parties hereto. In such event, additions to or additional exhibits attached hereto shall be executed by Lessee. All other amendments or modrfications of
the terms of this Lease (except for the addition of serial numbers for the Equipment as set forth in the Acceptance Certificate) must be accomplished by
written consent of Lessee and Lessor, or its Assignee, if any, provided, however, that no amendment of this Lease shall operate to reduce or delay any
Rental Payments to be made hereunder without the consent of Lessor, or Its Assignee, at the time of such amendment
25. NOTICES. All notices to be given under this Lease shall be made in writing and mailed by certified mail to the other party at its address set forth herein
or at such address as the party may provide in writing from time to time. Any such notice shall be deemed to have been received five (5) days subsequent
to mailing.
26. SECTION HEADINGS. All section headings contained herein are for the convenience of reference only and are not intended to define or limit the
scope of any provision of this Lease.
27. GOVERNING LAW. This Lease shall be governed by the provisions hereof and by the laws of the state or other Jurisdiction where the Equipment is
located.
28. FURTHER ASSURANCES. Lessee shall deliver to Lessor: (I) an opinion of counselin substantially the form of Exhibit D attached hereto or as Lessor
may otherwise request and (ii) if applicable, a certificate of a duly authorized official as to designation as a qualified tax - exempt obligation. Moreover,
Lessee shall execute or provide, as requested by Lessor, any documents and information which are reasonably necessary with respect to the
transaction contemplated by this Lease. Lessee hereby authorizes Lessor to execute and file on behalf of Lessee and as Lessee's attomey -in -fact such
UCC financing and continuation statements as Lessor deems necessary to secure Its and/or its Assign's interest in the Equipment or this agreement.
29. ENTIRE AGREEMENT. This Lease, together with the exhibits attached hereto and made a part hereof and other attachments hereto, and other
documents or instruments executed by Lessee and Lessor in connection herewith, constitute the entire agreement between the parties with respect to
the lease of the Equipment, and this Lease shall not be modified, amended, altered or changed except with the written consent of Lessee and Lessor.
30. SEVERABILITY. Any provision of this Lease found to be prohibited by law shall be ineffective to the extent of such prohibition without invalidating
the remainder of this Lease. 4
31. WAIVER. The waiver by Lessor of any breach by Lessee of any term, covenant or condition hereof shall not operate as a waiver of any
subsequent breach hereof.
LESSOR: Citicorp North America, Inc. LESSEE' CITY OF ROUND ROCK
MU CIPAL ENTITY
DATE: BY X
AUTHORIZED SIGNATURE
gy Mike Robinson /Mayor
PRINTED NAME AND TITLE
DATE / � _ /PRINTED NAME AND TIT! /!r�'/COJ
CNAVPG 112717'871
AUTHORIZED SIGNATURE AND TITLE
CITICORPONORTH AMERICA
STATE AND MUNICIPAL
LEASE/PURCHASE AGREEMENT
This State and Municipal Lease /Purchase Agreement (the "Lease ") is made and entered into on this, the day of
198 - by and between Citicorp North America, Inc. , with offices at 601 Midland Avenue, Rye, New York 10580,
(herein called the "Lessor"), and • ' • • C • with its principal address at
221 East Main, Round Rock, Texas 78664
(herein called the "Lessee "), wherein it is agreed as follows.
1. LEASE OF EQUIPMENT. Lessee hereby requests Lessor to acquire the equipment described in ExhibitA attached hereto and made a part
hereof. Subject to the terms and conditions hereof, Lessor agrees to lease to Lessee and Lessee agrees to lease from Lessor the equipment
described in Exhibit A, with all replacement parts, repairs, additions and accessories incorporated therein or affixed thereto (herein collectively
called the "Equipment ").
2. DELIVERY AND ACCEPTANCE. At the request of Lessee, Lessor agrees to order the Equipment from the supplier of such Equipment, but
shall not be liable for specific performance of this Lease or for damages if for any reason the supplier delays or fails to fill the order. Lessee shall
cause the Equipment to be delivered at the location specified in Exhibit A (the "Equipment Location "). Lessee shall pay all transportation and
other costs, if any, incurred in connection with the delivery and installation of the Equipment Any delay in such delivery shall not affect the
validity of this Lease. Lessee shall accept the Equipment as soon as it has been delivered and is operational, or as soon as any manufacturer
or vendor preacceptance test period has expired. Lessee shall have no more than thirty (30) days from the date of delivery of the Equipment to
accept such Equipment. In the event the Equipment is not accepted by Lessee within thirty (30) days from the date of Its delivery, Lessor, at
Lessor's sole option, shall have the right to terminate this Lease. Lessee shall evidence its acceptance of the Equipment by executing and
delivering to Lessor a delivery and acceptance certificate in the form of Exhibit B attached hereto and made a part hereof (the "Acceptance
Certificate "). Lessee hereby authorizes the Lessor to add to this Lease and to any other description of the Equipment the serial number of each
item of Equipment when available.
3. TERM. This Lease shall become effective upon the execution hereof by Lessee and Lessor. The initial term of this Lease shall commence
on the date Lessee executes the Acceptance Certificate (the "Start Date ") through the end of Lessee's fiscal year containing the Start Date
and, unless earlier terminated as expressly provided for in this Lease, shall be automatically renewed on a year -to -year basis for the number of
annual fiscal periods necessary to comprise the lease term as set forth in Exhibit C attached hereto and made a part hereof (the "Lease
Term ").
4. RENT. Lessee agrees to pay to Lessor or any Assignee (as defined in Section 22 below) the rental payments for the Equipment asset forth in
Exhibit C (the "Rental Payments "). A portion of each Rental Payment is paid as and represents the payment of Interest as set forth in Exhibit C.
The Rental Payments shall be payable, without notice or demand, at the office of Lessor (or such other place as Lessor or any Assignee may
designate in writing, from time to time) and shall commence on the Start Date or as otherwise set forth in Exhibit C, and the remaining Rental
Payments shall be payable on the same day of each consecutive month or quarter or semiannual or annual period thereafter as designated in
Exhibit C) for the duration of the Lease Term. Any notice, invoicing, purchase orders, quotations or other forms or procedures required by
Lessee as a condition precedent to payment shall be fully explained and provided to Lessor or any Assignee sufficiently in advance of the
payment due date for the completion thereof by Lessor or any Assignee prior to such payment date. To the extent permitted by applicable law,
whenever any portion of a Rental Payment is received by Lessor or its Assignee more than ten (10) days from the due date, Lessee shall pay to
Lessor or its Assignee, on demand, the greater of twenty -five dollars ($25. 00) or ten per cent (10 %) of such overdue amount EXCEPT AS
SPECIFICALLY PROVIDED IN SECTION 8 HEREOF, THE RENTAL PAYMENTS SHALL BE ABSOLUTE AND UNCONDITIONAL IN ALL
EVENTS AND WILL NOT BE SUBJECT TO ANY SETOFF, DEFENSE, COUNTERCLAIM, ABATEMENT OR RECOUPMENT FOR ANY
REASON WHATSOEVER.
5. AUTHORITY AND AUTHORIZATION. Lessee represents, warrants and covenants that (a) it shall do or cause to be done all things
necessary to preserve and keep in full force and effect (i) its existence, and (ii) the Lease; (b) it has complied with all bidding and budgeting
requirements where necessary and by due notification has presented this Lease for approval and adoption as a valid obligation on its part and
that all requirements have been met and procedures have been followed to ensure the enforceability of the Lease; (c) it has sufficient
appropriations or other funds available to pay all amounts due hereunder for the current fiscal period, (d) no event has occurred and no
condition exists which, upon the execution of this Lease or with notice or the passage of time or both, would constitute a default under any debt,
revenue or purchase obligation which it has issued or to which it is a party (the "Obligation ") nor has it been in default under any Obligation at
any time during the past five (5) years; and (e) no lease, rental agreement or contract for purchase, to which Lessee has been a party, at any
time during the past five (5) years, has been terminated by Lessee as a result of insufficient funds being appropriated in any fiscal period.
6. LESSEE CERTIFICATION. Lessee warrants and covenants that (1) it is a state, or a political subdivision thereof, within the meaning of
Section 103 of the Internal Revenue Code of 1986, as amended (the "Code "), and the related regulations and rulings thereunder; (ii) Lessee's
obligation under this Lease constitutes an enforceable obligation issued by or on behalf of a state, or political subdivision thereof, such that any
interest income derived under this Lease and due Lessor or its Assignee, including, but not limited to, those amounts designated as interest in
Exhibit C, shall not be includable in the gross income of Lessor, its Assignee or any participants with such for the purposes of federal income
taxation; (iii) this Lease represents a valid deferred payment obligation of Lessee for the amount herein set forth; (iv) Lessee has the legal
capacity to enter into this Lease and is not in contravention of any state, county, district, city or town statute, rule, regulation or other
governmental provision; (v) during the Lease Term, the Equipment shall not be used in a trade or business of any other person or entity; and (vi)
Lessee shall complete and file on a timely basis, Internal Revenue Service form 8038g or 8038gc, as appropriate, in the manner set forth in
Section 149(e) of the Code.
Citicorp North America, Inc.
A subsidiary of Citicorp
1900 E. Golf Road -11th Floor
Schaumburg, IL 60173
312/706 -9100
September 22, 1988
Mr. David Kautz
CITY OF ROUND ROCK
221 East Main Street
Round Rock, Texas 78664
Dear Mr. Kautz:
Thank you for leasing your new equipment from Citicorp North America,
Inc. Enclosed are the documents necessary to complete processing of
this transaction. The following will be required:
- (X) Executed Equipment Lease
- (X) Executed Schedule A ( ) and Exhibit A
- (X) Executed Delivery and Acceptance Certificate (please return
promptly upon equipment installation)
- ( ) Initial Payment Check in the amount of $ payable
to Citicorp North America, Inc. In the name of:
- (X) Executed UCC Financing Statement (1 )
- ( ) Executed Addendum 1
- ( ) Executed Purchase Option Rider
- ( ) Executed 15% Rider
- ( ) Executed Fair Market Renewal Rider
- ( ) Executed Stipulated Loss Value Schedule
- (X) Executed Amortization Schedule
- ( ) Executed Individual /Corporate Guarantee of:
(X) Cn of cancelled checks to vendors
- X Bill of Sale
- (X) Pay Proceeds
- ( ) Photo -copy of tax exempt certificate for:
- (X) Other:
Opinion of Counsel
CITICORPO NORTH AMERICA
- (X) . Executed Exhibit E
(X) Essential Use Letter
PLEASE DO NOT ALTER THESE DOCUMENTS IN ANY WAY WITH
CORRECTION FLUID. If changes are required the incorrect item
should be struck out, the correction made and initialed by the
person executing the lease documents.
Should you have any questions regarding completion of these
documents, please do not hesitate to call me at (312) 843 -0777.
Again, thank you for this opportunity. If you have any future
leasing needs please call me and I will be happy to assist you.
Sincerely,
Julie L. Webster
Marketing Support Representative
- CITICORP
The City of Round Rock, Texas
Analysis of Equipment Leasing Bids
LEASANLS
19-Sep-88
09:02 AM
COMPANY INFORMATION Citicorp N. America Capital City Leasing, Inc.
High Point Exec. Suite 130-S 4901 Spicewood Springs Road
1603 Babcock Road Austin, Texas 78759
San Antonio, Texas 78229
EFFECTIVE INTEREST RATE 8.320 9.240
:TOTAL FINANCING COST
:ON PRINCIPAL OF '
$57,748.00 8,693.42 9,688.88
1 :
1SEMI-ANNUAL PAYMENTS
FOR 3 YEAR PERIOD 11,073.57 11,239.48
: !
:EARLY PAYOFF WITHOUT
:INTEREST PENALTY Yes Yes
INON-APPROPRIATION CLAUSE Yes Yes
:AUTOMATIC OWNERSHIP
:ASSUMPTION AT THE
:COMPLETION OF CONTRACT Yes Yes
SCHEDULE A
PROPERTY TO BE FINANCED
ITEM DEPARTMENT DATE ACTUAL I.O. INVOICE
ACQUIRED COST NUMBER MANUFACTURER /VENDOR NUMBER
Four Police Cars POLICE 25- May -88 $$49,184.00 2FABP72GXJX194875 1988 Ford Crown Vic /Leif Johnson 5/13
2FABP12G3JX194811 II "
2FABP72G1JX194876 "
2FABP72G5JX194878 "
Six Telephone Sets POLICE II Mar - 88 $400.00 3100 - TRC AT&T 3091554326
Merlin 5 line module POLICE 29 Apr - 88 $814.00 61305A AT&T 3100708720
Merlin 3010 Supple. Power POLICE 29- Apr -88 $472.00 61350A AT&T 3100708720
Macintosh Communication FIRE 23- Mar -88 $3,128.00 85025/A Apple Computer, Inc. 755901
Workstation "
M5251,disk '
00116,keyboard
A910334,modem '
A9110320,printer '
80197,peripheral •
110556,hypercard '
Two Rhino Rotary Mowers STREET 31- May -88 $3,150.00 10019
10018
TOTAL CASH PRICE $57,748.00
2.
Williamson County Equip. Co.Inc. 12184
DATE: September 20, 1988
SUBJECT: Council Agenda, September 22, 1988
ITEM: 12B. Consider a resolution authorizing the Mayor to
enter into a leasing contract for various City
equipment.
STAFF RESOURCE PERSON: David Kautz
STAFF RECOMMENDATION: Bids on equipment to be leased were received
from 2 firms. The bids were very competitive and we recommend
award to low bidder of Citicorp.Inc..
ECONOMIC IMPACT: Funds are budgeted in fiscal 88 -89 for principal
and interest incurred with this lease proposal.