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R-89-1346 - 9/28/1989WHEREAS, the City of Round Rock has duly advertised for bids to lease various equipment for use by /, ! the City, and WHEREAS, �, 'L{�310, taL l.Vif , 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 _____ f) dz1 / L (, , Now Therefore, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, That the bid of �. ' .` i; is hereby accepted as ATTEST: C- RS09289F LAND, City Secretary RESOLUTION NO. / / the lowest and best bid, and the Mayor is hereby authorized and directed to execute on behalf of the City a contract with e tydza_ for the lease of various equipment. RESOLVED this 28TH day of September, 1989. MIKE ROBINSON, Mayor City of Round Rock, Texas amended. EQUIPMENT LEASE /PURCHASE AGREEMENT Equipment Le a /Purchase Agreement (the "Agreement ") dated as of ( q /Z , 1989, and entered into between Chrysler C pital Public Finance Corp., a Delaware corporation ( "Lessor "), and the City of Round Rock, Texas, a body corporate and politic existing under the laws of the State of Texas ( "Lessee "). WITNESSETR: WHEREAS, Lessor desires to lease the Equipment, as hereinafter described, to Lessee and Lessee desires to lease the Equipment from Lessor subject to the terms and conditions of and for the purposes set forth in this Agreement; and WHEREAS, Lessee is authorized under the constitution and laws of the State of Texas to enter into this Agreement for the purposes set forth herein; NOW, THEREFORE, for and in consideration of the premises hereinafter contained, the parties hereby agree as follows: ARTICLE I Section 1.01. Definitions. The following terms will have the meanings indicated below unless the context clearly requires otherwise: "Agent" means any agent for the Registered Owners, if any, to which all or a portion of Lessor's right, title and interest in, to and under this Agreement and the Equipment may be assigned for the benefit of the Registered Owners. "Agreement" means this Equipment Lease /Purchase Agreement, the Tax Designations and Covenants and any other schedule, exhibit or escrow agreement made a part hereof by the parties hereto, together with any amendments to the Agreement made pursuant to Section 13.06. "Code" means the Internal Revenue Code of 1986, as "Commencement Date" is the date when the term of this Agreement and Lessee's obligation to pay rent commence, which date shall be the earlier of (i) the date on which the Equipment is accepted by Lessee in the manner described in Section 5.01, or (ii) the date on which sufficient moneys to purchase the Equipment are deposited for that purpose with an escrow agent. "Equipment" means the property described in Exhibit C and all replacements, repairs, restorations, modifications and improvements thereof or thereto made pursuant to Section 7.01 or Article VIII. "Event of Default" means an Event of Default described in Section 12.01. "Issuance Year" is the calendar year in which the Commencement Date occurs. "Lease Participation Certificates" means certificates evidencing a right to receive a pro rata share of Rental Payments and Purchase Price payments. Terms. "Lease Term" means the Original Term and all Renewal "Lessee" means the entity described as such in the first paragraph of this Agreement, its successors and its assigns. "Lessor" means the entity described as such in the first paragraph of this Agreement, its successors and its assigns. "Original Term" means the period from the Commencement Date until the end of the budget year of Lessee in effect at the Commencement Date. "Purchase Price" means the amount designated as such on Exhibit B hereto that Lessee may, in its discretion, pay to Lessor to purchase the Equipment. "Registered Owners" means the registered owners of Lease Participation Certificates. "Renewal Terms" means the renewal terms of this Agreement, each having a duration of one year and a term coextensive with Lessee's budget year. "Rental Payments" means the basic rental payments payable by Lessee pursuant to Section 4.01. "Rental Payment Period" means the period beginning on the day a Rental Payment is due and ending the day before the - 2 -- next Rental Payment is due. The first Rental Payment Period shall begin on the Commencement Date in all cases. If Rental Payment Periods are monthly, subsequent Rental Payment Periods shall begin on the same day of each month after the Commencement Date. If Rental Payment Periods are quarterly, subsequent Rental Payment Periods shall begin on the same day of each third month after the Commencement Date. If Rental Payment Periods are semiannual, subsequent Rental Payment Periods shall begin on the same day of each sixth month after the Commencement Date. If Rental Payment Periods are annual, subsequent Rental Payment Periods shall begin on the anniversary of the Commencement Date in each year. If the Commencement Date is the 29th, 30th or 31st day of a month, any subsequent Rental Payment Period that would otherwise begin on the 29th, 30th or 31st day of a month that does not include such a date shall begin on the last day of that month. "State" means the state in which Lessee is located. "Vendor" means the manufacturer of the Equipment as well as the agents or dealers of the manufacturer from whom Lessor purchased or is purchasing the Equipment. ARTICLE II Section 2.01. Representations and Covenants of Lessee. Lessee represents, covenants and warrants for the benefit of Lessor and any Registered Owners (as hereinbefore defined) as follows: (a) Lessee is a public body corporate and politic duly organized and existing under the constitution and laws of the State with full power and authority to enter into this Agreement and the transactions contemplated hereby and to perform all of its obligations hereunder. (b) Lessee has duly authorized the execution and delivery of this Agreement by proper action by its governing body at a meeting duly called, regularly convened and attended throughout by the requisite majority of the members thereof or by other appropriate official approval, and all requirements have been met and procedures have occurred in order to ensure the validity and enforceability of this Agreement. (c) No event or condition that constitutes, or with the giving of notice or the lapse of time or both would constitute, an Event of Default exists at the date hereof. - 3 - (d) Lessee has, in accordance with the requirements of law, fully budgeted and appropriated sufficient funds for the current budget year to make the Rental Payments scheduled to come due during the Original Term, and to meet its other obligations for the Original Term, and such funds have not been expended for other purposes. (e) Lessee will do or cause to be done all things necessary to preserve and keep in full force and effect its existence as a body corporate and politic. (f) Lessee has complied with such public bidding requirements as may be applicable to this Agreement and the acquisition by Lessee of the Equipment. (g) During the Lease Term, the Equipment will be used by Lessee only for the purpose of performing essential governmental or proprietary functions of Lessee consistent with the permissible scope of Lessee's authority. (h) Lessee will annually provide Lessor with current financial statements, budgets, proofs of appropriation for the ensuing budget year and such other financial information relating to the ability of Lessee to continue this Agreement as may be requested by Lessor. (i) Lessee will comply with all applicable provisions of the Code, including without limitation Sections 103 and 148 thereof, and the applicable regulations of the Treasury Department to maintain the exclusion of the interest components of Rental Payments from gross income for purposes of federal income taxation. (j) Lessee will use the proceeds of this Agreement as soon as practicable and with all reasonable dispatch for the purpose for which the Agreement has been entered into. No part of the proceeds of the Agreement shall be invested in any securities, obligations or other investments or used, at any time, directly or indirectly, in a manner which, if such use had been reasonably anticipated on the date of issuance of the Agreement, would have caused any portion of the Agreement to be or become "arbitrage bonds" within the meaning of Section 103(b)(2) or Section 148 of the Code and the applicable regulations of the Treasury Department. - 4 -- (k) Lessee hereby designates the Agreement as a "qualified tax - exempt obligation" as defined in Section 265(b)(3)(B) of the Code. The aggregate face amount of all tax - exempt obligations (excluding private activity bonds other than qualified 501(c)(3) bonds) issued or to be issued by Lessee and all subordinate entities thereof during the Issuance Year is not reasonably expected to exceed $10,000,000. Lessee and all subordinate entities thereof will not issue in excess of $10,000,000 of qualified tax - exempt obligations (including the Agreement but excluding private activity bonds other than qualified 501(c)(3) bonds) during the Issuance Year without first obtaining an opinion of nationally recognized counsel in the area of tax - exempt municipal obligations acceptable to Lessor that the designation of the Agreement as a "qualified tax - exempt obligation" will not be adversely affected. (1) Lessee represents and warrants that it is a governmental unit under the laws of the State with general taxing powers; the Agreement is not a private activity bond as defined in Section 141 of the Code; 95% or more of the net proceeds of the Agreement will be used for local governmental activities of Lessee; and the aggregate face amount of all tax - exempt obligations (other than private activity bonds) issued or to be issued by the Lessee and all subordinate entities thereof during the Issuance Year is not reasonably expected to exceed $5,000,000. Lessee and all subordinate entities thereof will not issue in excess of $5,000,000 of tax - exempt bonds (including the Agreement but excluding private activity bonds) during the Issuance Year without first obtaining an opinion of nationally recognized counsel in the area of tax - exempt municipal obligations acceptable to Lessor that the excludability of the interest on the Agreement from gross income for federal tax purposes will not be adversely affected. Section 2.02. Certification as to Arbitrage. Lessee hereby represents as follows: (a) The estimated total costs of the Equipment will not be less than the total principal amount of the Rental Payments. (b) The Equipment has been ordered or is expected to be ordered within six months of the Commencement Date, and the Equipment is expected to be delivered and - 5 - Payments. (d) The Equipment has not been and is not expected to be sold or otherwise disposed of by Lessee, either in whole or in major part, prior to the last maturity of the Rental Payments. (e) To the best of our knowledge, information and belief, the above expectations are reasonable. (f) Lessee has not been notified of any listing or proposed listing of it by the Internal Revenue Service as an issuer whose arbitrage certificates may not be relied upon. ARTICLE III Section 3.01. Lease of Equipment. Lessor hereby demises, leases and lets to Lessee, and Lessee rents, leases and hires from Lessor, the Equipment in accordance with this Agreement for the Lease Term. The Lease Term may be continued, solely at the option of Lessee, at the end of the Original Term or any Renewal Term for an additional Renewal Term up to the maximum Lease Term set forth in Exhibit B hereto. At the end of the Original Term and at the end of each Renewal Term until the maximum Lease Term has been completed, Lessee shall be deemed to have exercised its option to continue this Agreement for the next Renewal Term unless Lessee shall have terminated this Agreement pursuant to Section 10.01. The terms and conditions during any Renewal Term shall be the same as the terms and conditions during the Original Term, except that the Rental Payments shall be as provided on Exhibit B hereto. Section 3.02. Continuation of Lease Term. Lessee intends to continue the Lease Term through the Original Term and all Renewal Terms and to pay the Rental Payments hereunder. Lessee reasonably believes that legally available funds in an amount sufficient to make all Rental Payments during the entire Lease Term can be obtained. Lessee further intends to do all things lawfully within its power to obtain and maintain funds from which the Rental Payments may be made, including making provision for such payments to the extent necessary in each budget or appropriation request submitted and adopted in accordance with applicable provisions of law, to have such portion of the budget or appropriation request approved and to exhaust all available reviews and appeals in the event such portion of the budget or appropriation request is not approved. Section 3.03. Ad Valorem Property Tax Revenues - Tax Levy. Lessee hereby obligates the payment of Rental Payments solely from the ad valorem property tax revenues received by Lessee, and not from any other source. -6- A special Interest in Sinking Fund (the "Interest and Sinking Fund ") is hereby created solely for the benefit of the Agreement, and the Interest and Sinking Fund shall be established and maintained by Lessee at an official depository bank of the Lessee. The Interest and Sinking Fund shall be kept separate and apart from all other funds and account of Lessee, and shall be used only for paying the interest on and principal of the Agreement. All ad valorem taxes levied and collected for and on account of the Agreement shall be deposited, as collected, to the credit of the Interest and Sinking Fund. During each year while the Agreement or interest thereon are outstanding and unpaid, the governing body of the Lessee shall compute and ascertain a rate and amount of ad valorem tax which will be sufficient to raise and produce the money required to pay the interest on the Agreement as such interest comes due, and to provide and maintain a sinking fund adequate to pay the principal of the Agreement as the principal comes due (but never less than 2% of the original principal amount of the Agreement as a sinking fund each year); and said tax shall be based on the latest approved tax rolls of the Issuer, with full allowance being made for tax delinquencies and the cost of tax collection. The amount in the Interest and Sinking Fund shall never, in any year, exceed principal and interest due in such year plus 10% of the original principal amount under the Agreement and at least once in any such year will not be in excess of 10% of such original principal amount. Section 3.04. Nonsubstitution. To the extent permitted by law, Lessee agrees that if this Agreement is terminated Lessee will not purchase, lease or rent equipment performing functions similar to those performed by the Equipment for a period of 90 days following the end of the then current Original Term or Renewal Term; provided this restriction shall not be applicable in the event the Equipment shall be sold, released or otherwise disposed of by Lessor and the amount received from such disposition, less all costs of such sale or disposition, is sufficient to pay the then applicable Purchase Price. This Section shall remain in full force and effect not withstanding the termination of this Agreement. ARTICLE IV Section 4.01. Rental Payments. Lessee shall promptly pay Rental Payments, exclusively from legally available funds, in lawful money of the United States of America to Lessor on the Commencement Date and on the first day of each Rental Payment Period thereafter, in such amounts as described on Exhibit B hereto. Lessee shall pay Lessor a charge on any Rental Payment not paid on the date such payment is due at the rate of 18% per annum or the maximum amount permitted by law, whichever is less, from such date. A portion of each Rental Payment is paid as, and represents payment of, interest, as set forth on Exhibit B -7- hereto. Section 4.02. Indebtedness by Lessee. Lessor and Lessee understand and intend that the obligation of Lessee to pay Rental Payments hereunder shall not in any way be construed to be a debt of Lessee in contravention of any applicable constitutional or statutory limitation or requirement concerning the creation of indebtedness by Lessee. Section 4.03. RENTAL PAYMENTS TO BE UNCONDITIONAL. THE OBLIGATIONS OF LESSEE TO MAKE RENTAL PAYMENTS AND TO PERFORM AND OBSERVE THE OTHER COVENANTS AND AGREEMENTS CONTAINED HEREIN SHALL BE ABSOLUTE AND UNCONDITIONAL IN ALL EVENTS WITHOUT ABATEMENT, DIMINUTION, DEDUCTION, SET -OFF OR DEFENSE, FOR ANY REASON, INCLUDING WITHOUT LIMITATION ANY FAILURE OF THE EQUIPMENT TO BE DELIVERED OR INSTALLED, ANY DEFECTS, MALFUNCTIONS, BREAKDOWNS OR INFIRMITIES IN THE EQUIPMENT OR ANY ACCIDENT, CONDEMNATION OR UNFORESEEN CIRCUMSTANCES. ARTICLE V Section 5.01. Delivery, Installation and Acceptance of the Equipment. Lessee shall order the Equipment, cause the Equipment to be delivered and installed at the location specified on Exhibit C to this Agreement and pay any and all delivery and installation costs in connection therewith. When the Equipment has been delivered and installed, Lessee shall immediately accept the Equipment and evidence said acceptance by executing and delivering to Lessor an acceptance certificate acceptable to Lessor. Section 5.02. Enjoyment of Equipment. Lessor shall provide Lessee with quiet use and enjoyment of the Equipment during the Lease Term, and Lessee shall peaceably and quietly have, hold and enjoy the Equipment during the Lease Term, without suit, trouble or hindrance from Lessor, except as otherwise expressly set forth in this Agreement. No Registered Owner shall interfere with such quiet use and enjoyment during the Lease Term so long as Lessee is not in default under this Agreement. Section 5.03. Location; Inspection. Once installed, the Equipment will not be moved from the location specified on Exhibit C to this Agreement without Lessor's consent, which consent shall not be unreasonably withheld. Lessor shall have the right at all reasonable times during regular business hours to enter into and upon the property of Lessee for the purpose of inspecting the Equipment. Section 5.04. Use and Maintenance of the Equipment. Lessee will not install, use, operate or maintain the Equipment improperly, carelessly, in violation of any applicable law or in a manner contrary to that contemplated by this Agreement. Lessee -8- shall provide all permits and licenses, if any, necessary for the installation and operation of the Equipment. In addition, Lessee agrees to comply in all respects with all applicable laws, regulations and rulings of any legislative, executive, administrative or judicial body; provided that Lessee may contest in good faith the validity or application of any such law, regulation or ruling in any reasonable manner that does not, in the opinion of Lessor, adversely affect the interest of Lessor in and to the Equipment or its interest or rights under this Agreement. Lessee agrees that it will, at Lessee's own cost and expense, maintain, preserve and keep the Equipment in good repair and working order. Lessor shall have no responsibility to maintain, repair or make improvements or additions to the Equipment. Upon the request of Lessor, Lessee will enter into a maintenance contract for the Equipment with Vendor. ARTICLE VI Section 6.01. Title to the Equipment. Upon acceptance of the Equipment by Lessee, title to the Equipment shall vest in Lessee subject to Lessor's rights under this Agreement; provided that title shall thereafter immediately and without any action by Lessee vest in Lessor, and Lessee shall immediately surrender possession of the Equipment to Lessor upon (a) any termination of this Agreement other than termination pursuant to Section 10.01 or (b) the occurrence of an Event of Default. It is the intent of the parties hereto that any transfer of title to Lessor pursuant to this Section shall occur automatically without the necessity of any bill of sale, certificate of title or other instrument of conveyance. Lessee shall, nevertheless, execute and deliver any such instruments as Lessor may request to evidence such transfer. Section 6.02. Security Interest. To secure the payment of all of Lessee's obligations under this Agreement, Lessee hereby grants to Lessor a security interest constituting a first lien on the Equipment and on all additions, attachments and accessions thereto, substitutions therefor and proceeds therefrom. Lessee agrees to execute such additional documents, in form satisfactory to Lessor, which Lessor deems necessary or appropriate to establish and maintain its security interest and the security interest of any assignee of Lessor in the Equipment. Section 6.03. Personal Property. The Equipment is and will remain personal property. The Equipment will not be deemed to be affixed to or a part of the real estate on which it may be situated, notwithstanding that the Equipment or any part thereof may be or hereafter become in any manner physically affixed or attached to such real estate or any building thereon. Upon the request of Lessor, Lessee will, at Lessee's expense, furnish a -9- waiver of any interest in the Equipment from any party having an interest in any such real estate or building. ARTICLE VII Section 7.01. Liens, Taxes, Other Governmental Charges and Utility Charges. Lessee shall keep the Equipment free of all levies, liens and encumbrances except those created by this Agreement. The parties to this Agreement contemplate that the Equipment will be used for a governmental or proprietary purpose of Lessee and that the Equipment will therefore be exempt from all property taxes. If the use, possession or acquisition of the Equipment is nevertheless determined to be subject to taxation, Lessee shall pay when due all taxes and governmental charges lawfully assessed or levied against or with respect to the Equipment. Lessee shall pay all utility and other charges incurred in the use and maintenance of the Equipment. Lessee shall pay such taxes or charges as the same may become due; provided that, with respect to any such taxes or charges that may lawfully be paid in installments over a period of years, Lessee shall be obligated to pay only such installments as accrue during the Lease Term. Section 7.02. Insurance. At its own expense, Lessee shall maintain (a) casualty insurance insuring the Equipment against loss or damage by fire and all other risks covered by the standard extended coverage endorsement then in use in the State and any other risks reasonably required by Lessor in an amount at least equal to the then applicable Purchase Price of the Equipment, (b) liability insurance that protects Lessor from liability in all events in form and amount satisfactory to Lessor, and (c) workers, compensation coverage as required by the laws of the State; provided that, with Lessor's prior written consent, Lessee may self- insure against the risks described in clauses (a) and (b). All insurance proceeds from casualty losses shall be payable as hereinafter provided. Lessee shall furnish to Lessor certificates evidencing such coverage throughout the Lease Term. All such insurance shall be with insurers that are acceptable to Lessor, shall name Lessee and Lessor as insureds and shall contain a provision to the effect that such insurance shall not be cancelled or modified materially without first giving written notice thereof to Lessor at least 10 days in advance of such cancellation or modification. All such casualty insurance shall contain a provision making any losses payable to Lessee and Lessor as their respective interests may appear. Section 7.03. Advances. In the event Lessee shall fail to either maintain the insurance required by this Agreement or keep the Equipment in good repair and working order, Lessor may, but shall be under no obligation to, purchase the required - insurance and pay the cost cf the premiums thereof and maintain and repair the Equipment and pay the cost thereof. All amounts so advanced by Lessor shall constitute additional rent for the then current Original Term or Renewal Term and Lessee covenants and agrees to pay such amounts so advanced by Lessor with interest thereon from the due date until paid at the rate of 18% per annum or the maximum amcunt permitted by law, whichever is less. ARTICLE VIII Section 8.01. Damage, Destruction and Condemnation. If (a) the Equipment or any portion thereof is destroyed, in whole or in part, or is damaged by fire or other casualty or (b) title to, or the temporary use of, the Equipment or any part thereof shall be taken under the exercise or threat of the power of eminent domain by any governmental body or by any person, firm or corporation acting pursuant to governmental authority, Lessee and Lessor will cause the Net Proceeds of any insurance claim, condemnation award or sale under threat of condemnation to be applied to the prompt replacement, repair, restoration, modification or improvement of the Equipment, unless Lessee shall have exercised its option to purchase the Equipment pursuant to Section 10.01. Any balance of the Net Proceeds remaining after such work has been completed shall be paid to Lessee. For purposes of this Article, the term "Net Proceeds" shall mean the amount remaining from the gross proceeds of any insurance claim, condemnation award or sale under threat of condemnation after deducting all expenses, including attorneys' fees, incurred in the collection thereof. Section 8.02. Insufficiency of Net Proceeds. If the Net Proceeds are insufficient to pay in full the cost of any repair, restoration, modification or improvement referred to in Section 8.01, Lessee shall either (a) complete such replacement, repair, restoration, modification or improvement and pay any costs thereof in excess of the amount of the Net Proceeds, or (b) purchase Lessor's interest in the Equipment pursuant to Section 10.01. The amount of the Net Proceeds, if any, remaining after completing such repair, restoration, modification or improvement or after purchasing Lessor's interest in the Equipment shall be retained by Lessee. If Lessee shall make any payments pursuant to this Section, Lessee shall not be entitled to any reimbursement therefor from Lessor nor shall Lessee be entitled to any diminution of the amounts payable under Article IV. ARTICLE IX Section 9.01. DISCLAIMER OF WARRANTIES. LESSOR MAKES NO WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE OR FITNESS FOR USE OF THE EQUIPMENT, OR WARRANTY WITH RESPECT THERETO. IN NO EVENT SHALL LESSOR BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGE IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR THE EXISTENCE, FURNISHING, FUNCTIONING OR LESSEE'S USE OF ANY ITEM, PRODUCT OR SERVICE PROVIDED FOR IN THIS AGREEMENT. Section 9.02. Vendor's Warranties. Lessor hereby irrevocably appoints Lessee its agent and attorney -in -fact during the Lease Term, so long as Lessee shall not be in default hereunder, to assert from time to time whatever claims and rights (including without limitation warranties) related to the Equipment that Lessor may have against the Vendor. Lessee's sole remedy for the breach of such warranty, indemnification or representation shall be against the Vendor of the Equipment and not against Lessor. Any such matter shall not have any effect whatsoever on the rights and obligations of Lessor with respect to this Agreement, including the right to receive full and timely payments hereunder. Lessee expressly acknowledges that Lessor makes, and has made, no representations or warranties whatsoever as to the existence or the availability of such warranties by the Vendor of the Equipment. ARTICLE X Section 10.01. Purchase Option. Lessee shall have the option to purchase Lessor's interest in the Equipment, upon giving written notice to Lessor at least 60 days before the date of purchase, at the following times and upon the following terms: (a) On the last day of the Original Term or any Renewal Term then in effect, upon payment in full of the Rental Payments then due hereunder plus the then applicable Purchase Price plus $1.00 to Lessor; or (b) In the event of substantial damage to or destruction or condemnation of substantially all of the Equipment, on the day Lessee specifies as the purchase date in Lessee's notice to Lessor of its exercise of the purchase option, upon payment in full of the Rental Payments then due hereunder plus the then applicable Purchase Price to Lessor. Section 10.02. Determination of Fair Purchase Price. Lessee and Lessor hereby agree and determine that the Rentals - 12 - hereunder during the Original Term and any Renewal Term represent the fair value of the use of the Equipment and that the amount required to exercise Lessee's option to purchase the Equipment pursuant to Section 10.01 represents, as of the end of the Original Term or any Renewal Term, the fair purchase price of the Equipment. Lessee hereby determines that the Rentals do not exceed a reasonable amount so as to place Lessee under an economic practical compulsion to renew this Agreement or to exercise its option to purchase the Equipment hereunder. In making such determinations, Lessee and Lessor have given consideration to the costs of the Equipment, the uses and purposes for which the Equipment will be employed by Lessee, the benefit to Lessee by reason of the acquisition and installation of the Equipment and the use and occupancy of the Equipment pursuant to the terms and provisions of this Agreement and Lessee's option to purchase the Equipment. Lessee hereby determines and declares that the acquisition and installation of the Equipment and the leasing of the Equipment pursuant to this Agreement will result in equipment of comparable quality and meeting the same requirements and standards as would be necessary if the acquisition and installation of the Equipment were performed by Lessee other than pursuant to this Agreement. Lessee hereby determines and declares that the maximum Lease Term does not exceed the useful life of the Equipment. ARTICLE XI Section 11.01. Assignment by Lessor. Lessor's right, title and interest in, to and under this Agreement and the Equipment may be assigned and reassigned in whole or in part to one or more assignees or subassignees by Lessor and, to the extent of his interest, by any Registered Owner, without the necessity of obtaining the consent of Lessee; provided that (a) any assignment, other than an assignment to or by a Registered Owner, shall not be effective until Lessee has received written notice, signed by the assignor, of the name, address and tax identification number of the assignee, and (b) any assignment to or by a Registered Owner shall not be effective until it is registered on the registration books kept by the Agent as agent for Lessee. Lessee shall retain all such notices as a register of all assignees (other than Registered Owners) and shall make all payments to the assignee or assignees designated in such register or, in the case of Registered Owners, to the Agent. Lease Participation Certificates may be executed and delivered by the Agent to Registered Owners, if any. Lessee agrees to execute all documents, including notices of assignment and chattel mortgages or financing statements that may be reasonably requested by Lessor or any assignee to protect its interests in the Equipment and in this Agreement. Lessee shall not have the - 13 - right to and shall not assert against any assignee or Registered Owner any claim, counterclaim or other right Lessee may have against Lessor. Section 11.02. Assignment and Subleasing by Lessee. None of Lessee's right, title and interest in, to and under this Agreement and in the Equipment may be assigned or encumbered by Lessee for any reason, except that Lessee may sublease all or part of the Equipment if Lessee obtains the prior written consent of Lessor and an opinion of nationally recognized counsel in the area of tax exempt municipal obligations satisfactory to Lessor that such subleasing will not adversely affect the exclusion of the interest components of the Rental Payments from gross income for federal income tax purposes. Any such sublease of all or part of the Equipment shall be subject to this Agreement and the rights of the Lessor in, to and under this Agreement and the Equipment. ARTICLE XII Section 12.01. Events of Default Defined. Any of the following events shall constitute an "Event of Default" under this Agreement: (a) Failure by Lessee to pay any Rental Payment or other payment required to be paid hereunder at the time specified herein; (b) Failure by Lessee to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in subparagraph (a) above, for a period of 30 days after written notice specifying such failure and requesting that it be remedied is given to Lessee by Lessor, unless Lessor shall agree in writing to an extension of such time prior to its expiration; provided that, if the failure stated in the notice cannot be corrected within the applicable period, Lessor will not unreasonably withhold its consent to an extension of such time if corrective action is instituted by Lessee within the applicable period and diligently pursued until the default is corrected; (c) Any statement, representation or warranty made by Lessee in or pursuant to this Agreement or its execution, delivery or performance shall prove to have been false, incorrect, misleading or breached in any material respect on the date when made; - 14 - (d) Any provision of this Agreement shall at any time for any reason cease to be valid and binding on Lessee, or shall be declared to be null and void, or the validity or enforceability thereof shall be contested by Lessee or any governmental agency or authority if the loss of such provision would materially adversely affect the rights or security of Lessor, or Lessee shall deny that it has any further liability or obligation under this Agreement; (e) Lessee shall (i) apply for or consent to the appointment of a receiver, trustee, custodian or liquidator of Lessee, or of all or a substantial part of the assets of Lessee, (ii) be unable, fail or admit in writing its inability generally to pay its debts as they become due, (iii) make a general assignment for the benefit of creditors, (iv) have an order for relief entered against it under applicable federal bankruptcy law, or (v) file a voluntary petition in bankruptcy or a petition or an answer seeking reorganization or an arrangement with creditors or taking advantage of any insolvency law or any answer admitting the material allegations of a petition filed against Lessee in any bankruptcy, reorganization or insolvency proceeding; or (f) An order, judgment or decree shall be entered by any court of competent jurisdiction, approving a petition or appointing a receiver, trustee, custodian or liquidator of Lessee or of all or a substantial part of the assets of Lessee, in each case without its application, approval or consent, and such order, judgment or decree shall continue unstayed and in effect for any period of 30 consecutive days. Section 12.02. Remedies on Default. Whenever any Event of Default exists, Lessor shall have the right, at its sole option without any further demand or notice, to take one or any combination of the following remedial steps: (a) By written notice to Lessee, Lessor may declare all Rental Payments and other amounts payable by Lessee hereunder to the end of the then current Original Term or Renewal Term to be due; (b) With or without terminating this Agreement, Lessor may enter the premises where the Equipment is located and retake possession of the Equipment or require Lessee at Lessee's expense to promptly return any or all of the Equipment to the possession of Lessor at - 15 - such place within the United States as Lessor shall specify, and sell or lease the Equipment or, for the account of Lessee, sublease the Equipment, continuing to hold Lessee liable for the difference between (i) the Rental Payments and other amounts payable by Lessee hereunder to the end of the then current Original Term or Renewal Term, and (ii) the net proceeds of any such sale, leasing or subleasing (after deducting all expenses of Lessor in exercising its remedies under this Agreement, including without limitation all expenses of taking possession, storing, reconditioning and selling or leasing the Equipment and all brokerage, auctioneers' and attorneys' fees); and (c) Lessor may take whatever action at law or in equity may appear necessary or desirable to enforce its rights as the owner of the Equipment. Section 12.03. No Remedy Exclusive. No remedy herein conferred upon or reserved to Lessor is intended to be exclusive and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right or power may be exercised from time to time and as often as may be deemed expedient. In order to entitle Lessor to exercise any remedy reserved to it in this Article it shall not be necessary to give any notice other than such notice as may be required in this Article. ARTICLE XIII Section 13.01. Notices. All notices, certificates or other communications hereunder shall be sufficiently given and shall be deemed given when delivered or mailed by registered mail, postage prepaid, to the parties hereto at the addresses immediately after the signatures to this Agreement (or at such other address as either party hereto shall designate in writing to the other for notices to such party), to any assignee at its address as it appears on the registration books maintained by Lessee or the Agent. Section 13.02. Release and Indemnification. To the extent permitted by law, Lessee shall indemnify, protect, hold harmless, save and keep harmless Lessor from and against any and all liability, obligation, loss, claim, tax and damage whatsoever, regardless of cause thereof, and all expenses in connection therewith (including without limitation counsel fees - 16 - and expenses and any federal income tax and interest and penalties connected therewith imposed on interest received) arising out of or as the result of (a) the entering into of this Agreement, (b) the ownership of any item of the Equipment, (c) the ordering, acquisition, use, operation, condition, purchase, delivery, rejection, storage or return of any item of the Equipment, (d) or any accident in connection with the operation, use, condition, possession, storage or return of any item of the Equipment resulting in damage to property or injury to or death to any person, and /or (e) the breach of any covenant herein or any material misrepresentation contained herein. The indemnification arising under this paragraph shall continue in full force and effect notwithstanding the full payment of all obligations under this Agreement or the termination of the Lease Term for any reason. Section 13.03. Entire Agreement. This Agreement constitutes the entire agreement between Lessor and Lessee. Section 13.04. Binding Effect. This Agreement shall inure to the benefit of and shall be binding upon Lessor and Lessee and their respective successors and assigns. Section 13.05. Severabilitv. In the event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof. Section 13.06. Amendments, Changes and Modifications. This Agreement may be amended by Lessor and Lessee; provided that no amendment that affects the rights of the Registered Owners shall be effective unless it shall have been consented to by the Registered Owners of a majority, in principal amount, of the Lease Participation Certificates, if any, then outstanding. Section 13.07. Execution in Counterparts. This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. Section 13.08. Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State. Section 13.09. Captions. The captions or headings in this Agreement are for convenience only and in no way define, limit or describe the scope or intent of any provisions or sections of this Agreement. - 17 - IN WITNESS WHEREOF, Lessor and Lessee have caused this Agreement to be executed in their names by their duly authorized representatives as of the date written above. CHRYS APITA PUBLIC F ANCE �ORP By Ti (LESSOR) Address: 106 West llth Street Suite 1530 Kansas City, Missouri 64105 (1) Dated: 'llz /g79 (3) - 18 - CITY OF ROUND ROCK, TEXAS (SEAL) ATTEST: (LESSEE) (2 Title: Mike Robinson. Mayor �/I7/YIdJ CZ/Yliki T le: Joanne Land, Assistant City Manager, City Secretary Address: 2.21 East Main Street Round Rock, Texas 78664 CERTIFICATE OF CLERK OR SECRETARY OF LESSEE I, the undersigned, do hereby certify (i) that the officer of Lessee who executed the foregoing Agreement on behalf of Lessee and whose genuine signature appears thereon, is the duly qualified and acting officer of Lessee as stated beneath his or her signature and has been authorized to execute the foregoing Agreement on behalf of Lessee, and (ii) that the budget year of Lessee is from October 1 to Se.temt. r 30 T le: Joanne Land. Assistant City Manager, City Secretary Chrysler Capital Public Finance Corporation (6f Dated- 106 West 11th Street, Suite 1530 Kansas City. Missouri 64105 [SEAL] Re: Equipment Lease/Purchase Agreement, dated as of _ (1) pZ et "Agreement"), between q0 /8R ACCEPTANCE CERTIFICATE Chrysler Capital Public Finance Corporation City of Round Rork. Texas Ladies and Gentlemen: In accordance with the Agreement, the undersigned Lessee hereby certifies and represents to, and agrees with. Lessor as follows: (1) All of the Equipment (as defined in the Agreement) has been delivered. installed and accepted on the date hereof. (2) Lessee has conducted such inspection and /or testing of the Equipment as it deems necessary and appropriate and hereby acknowledges that it accepts the Equipment for all purposes. (3) Lessee is currently maintaining the insurance coverage required by Section 7.02 of the Agreement. (4) No event or condition that constitutes, or with notice or lapse of time, or both, would constitute, an Event of Default (as defined in the Agreement) exists at the date hereof. City of Round Rock, Texas 19 99 (the ("Lessor") and ("Lessee) LESSEE ( By Title- Mike Robinson. Mayor ML-8-787 (a6 EXHIBIT A TO EQUIPMENT LEASE /PURCHASE AGREEMENT OPINION OF COUNSEL As legal counsel to Lessee, I have examined (a) the foregoing Agreement, which, among other things, provides for the sale to and purchase by the Lessee of the Equipment, (b) an executed counterpart of the ordinance or resolution of Lessee which, among other things, authorizes Lessee to execute the Agreement and (c) such other opinions, documents and matters of law as I have deemed necessary in connection with the following opinions. Based on the foregoing, I am of the following opinions: (1) Lessee is a public body corporate and politic, duly organized and existing under the laws of the State, and has a substantial amount of one or more of the following sovereign powers: (a) the power to tax, (b) the power of eminent domain, and (c) police power; (2) Lessee has the requisite power and authority to purchase the Equipment and to execute and deliver the Agreement and to perform its obligations under the Agreement; (3) the Agreement and the other documents either attached thereto or required therein have been duly authorized, approved and executed by and on behalf of Lessee, and the Agreement is a valid and binding obligation of Lessee enforceable in accordance with its terms; (4) the Agreement is not in violation of any statutory or constitutional debt limitations and the obligations created by the Agreement are in compliance with the laws of the State and in particular V.T.C.A. Tax Code Section 26.04 and V.T.C.A. Local Government Code Section 271.005 and are not subject to voter approval; (5) the authorization, approval and execution of the Agreement and all other proceedings of Lessee relating to the transactions contemplated thereby have been performed in accordance with all open meeting laws, public bidding laws and all other applicable state and federal laws; and (6) there is no proceeding pending or threatened in any court or before any governmental authority or arbitration board or tribunal that, if adversely determined, would adversely affect the transactions contemplated by the Agreement or the security interest of Lessor or its assigns, as the case may be, in the Equipment. All capitalized terms herein shall have the same meanings as in the foregoing Agreement. Lessor, its successors - 1 - and assigns, including without limitation any Registered Owners, and any counsel rendering an opinion on the tax - exempt status of the interest components of Rental Payments are entitled to rely on this opinion. Printed Name: Dated: Address: Telephone No.: - 2 - Signature: Mayor Mike Robinson Mayor Pro -tem Charles Culpepper Council Members Jahn Hood Tish Oatman Pete Correa Ronnie Jean Jimmy Joseph City Manager Robert L Bennett, Jr City Attorney Stephan L. Sheets • )) ...., . j) Gentlemen: THE CITY OF ROUND ROCK 221 East Main Street Round Rock, Texas 78664 512- 255 -3612 OPINION OF COUNSEL September 29, 1989 Chrysler Capital Public Finance Corporation 106 West llth Street Suite 1530 Kansas City, Missouri 64105 As legal counsel to Lessee, I have examined (a) the foregoing Agreement, which, among other things, provides for the sale to and purchase by the Lessee of the Equipment, (b) an executed counterpart of the ordinance or resolution of Lessee which, among other things, authorizes Lessee to execute the Agreement and (c) such other opinions, documents and matters of law as I have deemed necessary in connection with the following opinions. Based on the foregoing, I an of the following opinions: (1) Lessee is a public body corporate and politic, duly organized and existing under the laws of the State, and has a substantial amount of one or more of the following sovereign powers: (a) the power to tax, (b) the power of eminent domain, and (c) police power; (2) Lessee has the requisite power and authority to purchase the Equipment and to execute and deliver the Agreement and to perform its obligations under the Agreement; (3) the Agreement and the other documents either attached thereto or required therein have been duly authorized, approved and executed by and on behalf of Lessee, and the Agreement is a valid and binding obligation of Lessee enforceable in accordance with its terms; (4) the Agreement is not in violation of any statutory or constitutional debt limitations and the obligations created by the Agreement are in compliance with the laws of the State and in particular V.T.C.A. Tax Code Section 26.04 and V.T.C.A. Local Government Code Section 271.005 and are not subject to voter approval; (5) the authorization, approval and execution of the Agreement and all other proceedings of Lessee relating to the transactions contemplated thereby have been performed in accordance with all open meeting laws, public bidding laws and all other applicable state and federal laws; and (6) there is no proceeding pending or threatened in any court or before any governmental authority or arbitration board or tribunal that, if adversely determined, would adversely affect the transactions contemplated by the Agreement or the security interest of Lessor or its assigns, as the case may be, in the Equipment. All capitalized terms herein shall have the same meanings as in the foregoing Agreement. Lessor, its successors and assigns, including without limitation any Registered Owners, and any counsel rendering an opinion on the tax - exempt status of the interest components of Rental Payments are entitled to rely on this opinion. Since Steph City r L. Sheets, Attorney Round Rock, Texas *EXHIBIT B TO EQUIPMENT LEASE PURCHASE AGREEMENT SCHEDULE OF RENTAL PAYMENTS PAYMENT LEASE INTEREST PRINCIPAL PURCHASE DATE PAYMENT PORTION PORTION PRICE 03 \20 \90 $27,267.00 $3,538.01 $23,728.98 $124,129.23 09 \20 \90 $27,267.00 $4,758.29 $22,508.71 $101,170.34 03 \20 \91 $27,267.00 $3,878.20 $23,388.80 $77,313.77 09 \20/91 $27,267.00 $2,963.70 $24,303.30 03 \20 \92 $27,267.00 $2,013.44 $25,253.56 $52,524.40 09 \20 \92 $27,267.00 $1,026.02 $26,240.97 $26,765.77 $1,00 *REVISED AS OF 11 \28 \89 Quantity 1 EXHIBIT C TO EQUIPMENT LEASE /PURCHASE AGREEMENT DESCRIPTION OF EQUIPMENT Description IBM Personal Computer at: 2008 Enterprise Model # Serial # 5G1500 TX1000 173GSB3105 -T — 4 — Sakata Screen Tandy Computer TI Printer 1 Repeater Radio Frequency Motorola at: 2008 Enterprise 9 Patrol Units Chevrolet 1G1BL51E2KR168687 at: 2008 Enterprise Chevrolet 1G1BL51E6KR167879 Chevrolet 1G1BL51EXKR16B548 Chevrolet 1G1BL51E7KR16B331 Chevrolet 1G1BL51EBKR168770 Chevrolet 1G1BL51EXKR167531 Chevrolet 1G1BL51E7KR168278 Chevrolet 1G1BL51EXKR167304 Chevrolet 1G1BL51EflKR168640o 1 Lawnmower Toro 30794 at: 300 S. Blair 1 Lawnmower Toro 30794 at: 3939 Palm Valley Blvd. Concrete Saw Target 044404 at: 300 S. Blair Rotary Lift Rotary SP94 at: 300 S. Blair 1 Chlorine Scale W &T 500 "C" 1 Chlorine Scale Force Flow 6 D 40 A UI Melody dale Al Interest rate (c) Poo' plc, Nneemmen pee at notions (e) w mat • (1) NOS Id Net cue ���z/dESAN0 hiI / years faro 8038 -6 (0ecember 1986) 0ewwwwww d and rwewr Memo aww.we senee gam Reporting Authority ewes nem The City of Round Rock, Texas 1 Pisa.*ar and Street 221 East Main Street I Cat IF brow. suns, and IW WOO Round Rock TX 78664 Part II Part III 17 Final maturity . 18 Entire issue . . Part VI Please Sign Here Type of Issue (check box(es) that applies) Descriptl Information Return for Tax•Exempt Governmental Bond Issues • Water Seams Moo (Use Farm 8018.00 N lawn peke k under 11100.00D3 7 Check box it bonds are tax or other revenue anticipation bonds • ❑ $ Check box if bonds are in the form of a lease or installment sale ► ❑ 9 ❑ Education 10 ❑ Health and hospital 11 ❑ Transportation 12 ❑ Public safety 13 ❑ Environment (including sewage bonds) 14 ❑ Housing 15 ❑ Utilities . . . . . . 16 ❑ Other. Describe (see instructions)• underwr'ters discount 19 Proceeds used for accrued interest 20 Proceeds used for bond issuance costs (including underwriters' discount) 21 Proceeds used for credit enhancement 22 Proceeds allocated to reasonably required reserve or replacement fund 23 Proceeds used to refund prior issues 24 Nonretunding proceeds of the issue (subtract lines 20.21.22, and 23 from line 18. column (c)) Description of Refunded Bonds (c omplete this part only for refunding bonds) 25 Enter the remaining weighted average maturity of the bonds to be refunded 26 Enter the last date on which the refunded bonds will be called 27 Enter the date(s)the refunded bonds were issued • Mlscef For Paperwork Reduction Act Notice, see page 1 of the Instructions. Check box it Amended Return • 1 WW1 heOYyerteweaarattenwer 14 - 601'14 �S 4 Iwo runner 0198 a Oats W that Part V 19 20 21 22 23 24 • • 01411 No 154$0710 two 11 -31-4111 kilo years 28 Enter the amount (if any) of the state volume cap allocated to this issue • 29 Arbitrage rebate: s Check box if the small governmental unit exception to the arbitrage rebate requirement applies ❑ b Check box it the 6-month temporary investment exception to the arbitrage rebate requirement is expected to apply ❑ e Check box if you expect to earn and rebate arbitrage profits to the U.S. ❑ 30 Enter the amount of the bands designated by the issuer under section 265(bX3X0Xii) • 31 Pooled financings: a Check box if any of the proceeds of this issue are to be used to make loans to other governmental units • ❑ and enter the amount • b Check box if this issue is a loan made from the proceeds of another tax-exempt issue • ❑ and enter the name of the issuer • and the date of the issue • Under DeNm 1 penury I ac a thr I ...rammed the return n &Com er ce schedules aro etatementa, end m to Inc pen al Way are tr Mr C. a omp le � . � /2 r and - Mdse am WWI. s en at once• ate T.M r am 8038 -G ru -es) The City of Round Rock, Texas Analysis of Equipment Leasing Bids Prepared by: Donna Hahn City Finance Department ITEMS TO ANALYZE 1. Effective Interest Rate on $145,424.30 for 3 yrs 2. Total Financing Cost on Principal of $145,424.30 3. Semi - Annual Payments for a 3 year period 4. Early Payoff Without interest penalty 5. Non - Appropriation Clause 6. Automatic Ownership Assumption at the Completion of Contract Chrysler Cap Pub Fin Corp 1 Capital City Leasing, Inc 106 W. 11th St, Suite 1530 1 4901 Spicewood Springs Rd Kansas City MO 64105 Austin, Texas 78759 Attn: Randall Bushman 1 Attn: John Duff 7.820 165,961.14 27,660.19 Yes Yes Yes 4,;A 40 8.075 166,651.74 167,435.76 1 167,709.78 27,775.29 27,905.96 27,951.63 Yes Yes Citicorp N. America, Inc. 601 Midland Ave Rye, NY 10580. Attn: Teresa M. O'Brien 8.364 1 8.465 No No LEASE4 20- Sep -89 04:54 PM No Yes Yes 1 No $1.00 1 No $1.00 The City of Round Rock, Texas LEASE4 Amortization Schedule for 20- Sep -89 Lease /Purchase of Equipment 04:51 P9 Prepared by: Donna Hohn City Finance Department C('ANY Chrysler Cap Public Fin Corp Capital City Leasing, Inc. CitiCorp N. America PAYMENT INTEREST PRINCIPAL TOTAL REMAINING COMPANY DATE PAYMENT PAYMENT PAYMENT PRINCIPAL SCHEDULE DIFFERENCE 7.82 % 145,424.30 30- Mar -90 5,686.09 21,974.10 27,660.19 123,450.20 30- Sep - 90 4,826.90 22,833.29 27,660.19 100,616.91 30- Mar - 91 3,934.12 23,726.07 27,660.19 76,090.84 30- Sep -91 3,006.43 24,653.76 27,660.19 52,237.08 30- Mar -92 2,042.47 25,617.72 27,660.19 26,619.36 30- Sep -92 1,040.82 26,619.37 27,660.19 0.02 Totals 20,536.83 145,424.31 165,961.14 8.075 2 145,424.30 30- Mar -90 5,871.51 21,903.78 27,775.29 123,520.52 30- Sep -90 4,987.14 22,788.15 27,775.29 100,732.37 30- Mar -91 4,067.07 23,708.22 27,775.29 77,024.15 30- Sep -91 3,109.85 24,665.44 27,775.29 52,358.71 30- Mar -92 2,113.98 25,661.31 27,775.29 26,697.40 30- Sep-92 1,077.91 26,697.38 27,775.29 0.05 Totals 21,227.46 145,424.28 166,651.74 CitiCorp N. America 7.45 % Equipment Cost 145,424.30 No "Funding -Out" Clause Underwriting Fee 2,181.36 147,605.66 30-Mar -90 5,498.31 22,407.65 27,905.96 125,198.01 30- Sep -90 4,663.63 23,242.33 27,905.96 101,955.68 30- Mar-91 3,797.85 24,108.11 27,905.96 77,847.57 30- Sep -91 2,899.82 25,006.14 27,905.96 52,841.43 30- Mar-92 1,968.34 25,937.62 27,905.96 26,903.81 30- Sep - 92 1,002.17 26,903.79 27,905.96 0.05 Totals 19,830.12 147,605.64 167,435.76 7.55 % Equipment Cost 145,424.30 Underwriting Fee 2,181.36 147,605.66 30- Mar -90 5,572.11 22,379.52 27,951.63 125,226.14 127,730.67 2,504.53 30- Sep -90 4,727.29 23,224.34 27,951.63 102,001.80 104,041.84 2,040.04 30-Mar -91 3,850.57 24,101.06 27,951.63 77,900.74 79,458.76 1,558.02 30- Sep -91 2,940.75 25,010.88 27,951.63 52,889.86 53,947.67 1,057.81 30- Mar -92 1,996.59 25,955.04 27,951.63 26,934.82 27,473.53 538.71 30- Sep-92 1,016.79 26,934.84 27,951.63 0.01 0.00 (0.01) Totals 20,104.10 147,605.68 167,709.78 Repeater radio freq Police OS- Sep -89 14,154.10 Patrol units (9) 1 145,424.30 SCHEDULE A PROPERTY TO BE FINANCED LEASE4 06- Sep -89 03 :31 PM DATE ACTUAL I.D. INVOICE ITEM DEPARTMENT ACQUIRED COST NUMBER MANUFACTURER VENDOR N0. (DATE) IBM Personal computer Police 31- Oct -88 8 2,672.00 5G1500 Sakata (screen) AB Computer 39251 TX1000 Tandy (computer) Electronics C13GSB3105 -T TI (printer) Motorola Wear Radio Service none yet Police 15- Feb -89 11,490.00 1G18L51E2KR168687 Chevrolet Knapp Chevrolet 02/10/89 11,490.00 IGIBL51E600167879 11,490.00 IGIBL5IEXKRI6B548 11,490.00 1G18L51E760168331 11,490.00 IGIBL51E0KR168770 11,490.00 IGIBL51EXKR161531 11,490.00 IGIBLSIEIKR168218 11,490.00 IGIBL5IEXKRI61304 11,490.00 IGIBL51EPKR168640 Lawnmower Street 24- May -89 7,104.60 30794 Toro Galdwaites of Tx 0036164 Lawnmower WW Trmt Pit 24- May -89 7,104.60 30794 Toro Goldwaltes of Tx 0036161 Concrete saw Street 22- Mar -89 4,560.00 044404 Target Central TX Equip Co 03/11/89 Rotary Lift Shop 11- Aug -89 3,494.00 SP94 Rotary Gordon's Equip 11314 Chlorine scales NN Trmt Plt 28- Apr -89 2,925.00 500 "C" Nit DAD Chlorinator 4411 6 0 40 A force Flow 060 Chlorinator 4411 DATE: September 25, 1989 SUBJECT: Council Agenda, September 28, 1989 ITEM: 11F. Consider a resolution authorizing the Mayor to enter into a lease /purchase agreement for various City equipment. STAFF RESOURCE PERSON: David Kautz STAFF RECOMMENDATION: Through authorization under the 1988 -89 operating budget certain equipment is financed through a lease /purchase program. A list of the equipment, which is financed over three years, is attached along with an analysis of the financing proposals. Four proposals were received and staff recommends.` accepting the offer from: Chrysler Capital Corporation Annual Percentage 7.82 %.