R-94-09-08-10D - 9/8/1994MUNICIPAL LEASING CREDIT CORPORATION
10520 Barkley, Suite 5
Overland Park, KS 66212-1823
(913) 381 -1900
Re:
City of Round Rock
221 East Main St.
Round Rock, tX 78664
Equipment Lease /Purchase Agreement dated as of 08 / 2 3
between Municipal Leasing Credit Corp. as Lessor
City of Round Rock , as Lessee
Please be advised that Municipal Leasing Credit Corp ,
as Lessor has assigned all its right, title, and interest in,
to and under the above - referenced Equipment Lease /Purchase Agreement (the
"Agreement "), the Equipment leased thereunder and the payment of the
Purchase Price thereunder (except its right to receive Rental Payment(s)
No(s). n/a , its rights under Section 12.03 of the Agreement, and its
right to liability insurance coverage) to Signet Leasing and Financial
Corporation , (the "Assignee "), whose address is p C Roy 7
Baltimore, MD 21203 , and whose tax identificati number is
All Rental Payments and payment of the Purchase due under the
Agreement, except for Rental Payment(s) No(s). n/a , should be made
to the Assignee at the above address. Rental Payment(s) No(s). n/a
should be made to the Lessor.
Please acknowledge your acceptance of the assignment and your
agreement to make payments due under the Agreement, except for Rental
Payment(s) No(s). n/a , to the Assignee by the signature of a duly
authorized officer in the space provided at the bottom of this letter and
return it to us at the address above.
Sincerely,
Munic 1 Leasing Credit Corporation
Adg
UMW
By:
:i:=1, Carol D. Searcy, Pres dent
NOTICE OF ASSIGNMENT
- 9L -og -o: ioo
ACKNOWLEDGED AND ACCEPTED:
, 1994
Title: Charles Culpepper, Mayor
and
Mr. Howard Baker
Finance Department
City of Round Rock
221 East Main St.
Round Rock, TX 78664
Dear Mr. Baker:
Enclosures
September 2, 1994
Re: City of Round Rock Equipment Lease /Purchase Agreement
dated as of 08/23/94
MUNICIPAL LEASING CREDIT
C O R P O R A T I O N
Thank you for sending us the financial information requested by
Darrell Jarman. It has been sent along to our credit committee for their
review.
At Darrell's direction, enclosed please find the original documents
for the above - mentioned Agreement. The Instruction Sheet will help you
complete signing. I have included an invoice for the issuance fees.
Please don't hesitate to call Darrell or me at 800/333 -4910 if you
have questions. We look forward to the return of the signed paperwork.
Sincerely,
Ellen O'Kelley
Documents
10520 BARKLEY, SUITE 5 • OVERLAND PARK, KANSAS 66212 -1823 • 913/381 -1900 • FAX 913/381 -0105
c c�
MUNICIPAL LEASING CREDIT
C O R P O R A T I O N
INSTRUCTIONS FOR COMPLETING THE LEASE /PURCHASE AGREEMENT
.* Signatures required from the Community:
1. MAYOR, ADMINISTRATOR, or other person Sign on yellow lines.
.signing the Lease ( 8' places)
2. CLERK or SECRETARY
(Affix the Community's seal, or
initial beside the Clerk's signature.)
Sign on blue lines.
( 2 places)
3. TTbRNEO the Community Sign on green line(s).
( I places)
4. NOTARY PUBLIC - -End of Exhibit A Sign on pink line(s).
(Affix notary seal.)
Note: Notary must be someone other
than N1 or N2 above.
Please return to Municipal Leasing Credit Corporation:
1. Completed Document
2. UCCs and 8038
( 1 places)
3. Balance Sheets and Income Statements for the last two fiscal years
already received
4. Current year's Budget
already received
5. Purchase Order between Vendor and Lessee
6. Check for issuance costs.
To guarantee timely availability of funds, the completed documents
must be returned to MLCC no later than Friday, September 16, 1994
(or sooner).
10520 BARKLEY, SUITE 5 • OVERLAND PARK, KANSAS AA919_1RA1 • olsianl_lonn . CAN O1 P Pi_ninc
Mr. Howard Baker
Finance Department
City of Round Rock
221 East Main St.
Round Rock, TX 78664
September 2, 1994
Re: City of Round Rock Equipment Lease /Purchase Agreement
dated as of 08/23/94
Dear Mr. Baker:
MUNICIPAL LEASING CREDIT
C O R P O R A T 1 0 N
Thank you for sending us the financial information requested by
Darrell Jarman. It has been sent along to our credit committee for their
review.
At Darrell's direction, enclosed please find the original documents
for the above - mentioned Agreement. The Instruction Sheet will help you
complete signing. I have included an invoice for the issuance fees.
Please don't hesitate to call Darrell or me at 800/333 -4910 if you
have questions. We look forward to the return of the signed paperwork.
Enclosures
Sincerely,
Ellen O'Kelley
Documents
10520 BARKLEY, SUITE 5 • OVERLAND PARK, KANSAS 66212 -1823 • 913/381 -1900 • FAX 913/381 -0105
MUNICIPAL LEASING CREDIT CORPORATION
10520 Barkley, Ste. 5
Overland Park, KS 66212 -1823
913/381 -1900 or 800/333 -4910
LESSEE:
ADDRESS: 221 East Main St.
CITY, STATE. d ZIP:
Round Bock, 'Texas 78664
SEE ATTACHED EQUIPMENT DESCRIPTION.
Payments begin on O2/21t^Q5 and continue the 24th
February thereafter for the duration of this lease.
EQUIPMENT LEASE /PURCHASE AGREEMENT
PHONE:
Lease #
Dated as of
CITY OF ROUND ROCK CONTACT: Howard Baker
512/255 -3612
EQUIPMENT DESCRIPTION:
2211 YP AM KE. (MODEL. SERIAL N LOCATION 1
0902D194
Ua /L.i/9
$300,000.00
SCHEDULE OF PAYMENTS:
TERM MODE TOTAL N OF PAYMENTS PAYMENT AMOUNT
3 yrs. semi — annual 6 , $54,629.00
day of each August find
Equipment Lease /Purchase Agreement (the "Agreement") dated as of 08/23 19 94 , and entered
Into by and between MUNICIPAL LEASING CREDIT CORPORATION, a Kansas corporation ( "Lessor"), and
CITY OF ROUND ROCK a body corporate and politic existing under the laws of
the State of TEXAS ("Lessee .. ).
WITNESSETH: whereas, Lessor desires to lease the Equipment, as hereinafter described, to Lessee, and Less.. desires
to lease the Equipment from Lessor subject to the terms and conditions of and for the purpose. set forth in this
Agreement; and wh Is authorized under the constitution end laws of the State to enter Into this Agreement
for the purposes set forth in this Agreement; now, therefore, for and In consideration of the premises hereinafter
contained, the parties hereby agree as follows:
1.01. COVENANTS QL 1E5SEE. Lessoe represents, covenants and warrants for the benefit of Lessor and any Registered
Owners (as hereinafter defined) as follows:
(a) L is a public body corporate and politic duly organized and existing under the constitution end laws of
the state with full power and authority to enter into this Agreement and the transaction contemplated hereby and to
perform all of its obligations hereunder.
(b) L 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.
(c) has been duly authorized to execute and deliver this Agreement by proper action by its governing body,
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 and Lessee has complied with such public bidding requirements as
may be applicable 0. this Agreement and the acquisition by Lase. of the Equipment hereunder. Lasso. shall cause to be
executed an opinion of its counsel In the form attached hereto as Exhibit C.
(d) During the Lease term, the Equipment will perform and will be used by L for the purpose of performing only
essential governmental uses and public functions of Lessee consistent with the permissible scope of L 's authority.
(e) L ill annually provide Lessor with current financial statements, budgets, proof of approprietton for the
ensuing fiscal year and such other flnenclat Information relating to the ability of L.ssn to continue this Agreement as
may be requested by Lessor, or its assigns. -
(f) will comply with all applicable provisions of the Internal Revenue Code of 1986, as now In effect or as
hereafter from time to time amended (the "Coda "), including Section 103 thereof, or the regulations of the Treasury
Department thereunder, from time to time proposed or in effect in order to maintain the exclusion from federal income
taxation of the Interest components of Rental Payments.
(g) Lessee will use the proceeds of the Agreement as soon as practicable and with all reasonable dispatch for the
purpose for which the Agreement has been entered into, and no part of the proceeds of the Agreement shall be Invested in
any securities, obligations or other investments except for the temporary period pending such use nor 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 (h) (2) or Section 148 of the Code and the regulations of the Treasury Department thereunder proposed or in effect at
the time of such use and applicable to obligations issued on the Commencement Date.
(h) Prior to the Commencement Date and to the extent that at the Commencement Date the conditions necessary to
designate this Agreement as "qualified tax - exempt obligations" under Section 265 of the Coda can be met, Lessee shall A so
designate this Agreement by execution and delivery of a Tax Certificate in the farm attached hereto as Exhibit 8 with
paragraph 1 retained therein.
(i) Prior to the Commencement Date and to the extent that at the Commencement Date the conditions nee essar to
qualify this Agreement for the exception for small government units under Section 148 (f) (4) (c) of the Code can be
met, Lessee shall so qualify this Agreement by execution and delivery of a Tax Certificate in the form attached hereto as
Exhibit 8 with paragraph 2 retained therein.
2_,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 the Lease and the Equipment may be assigned for the benefit of the Registered Owners.
"Agreement" means this Equipment Lease /Purchase Agreement, including the Exhibits attached hereto.
"Commencement Date" is the date when the term of this Agreement and Lessee's obligation to pay rent commences,
which date shall be the date on which the Equipment is accepted by Lessee as indicated by executing and delivering to
Lessor the Acceptance Certificate in the form attached hereto as Exhibit D or the date on which moneys to purchase the
Equipment are deposited for that purpose in a separate bank account, whichever is earlier.
"Equipment" means the property described in Equipment Description and all replacements, repairs, restorations,
modifications and improvements thereof or thereto made pursuant to 9.01.
"Full Insurable Value" means the total amount of all Rental Payments required to be paid by the Lessee through the
full Lease Term of this Agreement.
"leas. Participation Certificates. moans certificates evidencing • right to receive • pro rata share of all or
certain Rental Payments and Purchase Price Payments.
"Lease Term" means the Original Term and all Renewal Terms provided for in this Agreement.
"Lessee" means the entity described as such in the first paragraph of this Agreement, and which Is leasing the
•Hu ilimerrl from less un,l.r provision. of Ih. Ayre.manl.
"Lessor" means the entity described a s such in the first paragraph of this Agreement, its successors and assigns. _
"Original Term" means the period from the Commencement Date until the end of the budget year of L In effect at
the Commencement Date.
"Purchase Price" means the amount which Lessee may, in its discretion, pay to Lessor to purchase the Equipment, as
set forth in Section 4.03 hereto.
"Registered Owners" means the registered owners of Lease Participation Certificates as shown on the registration
books maintained by the Agent.
"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, as provided for in Sections 4.01 and 4.04.
"Rental Payments" means the basic rental payments payable by Lessee pursuant to Sections 6.01 through, and
including, 6.07.
"State" means the state in which Lessee is situated.
"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.
3.01. LEASE QE 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.
4,01. LEASE TERM. The Original Term of this Agreement shall commence on the Commencement Date and shall
terminate the last day of Lessee's current budget year. 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 one year, up to a maximum Lease Term of
three (3) years, and zero (0) months. At•the end of the Original Term and at the end of each
Renewal Term, unless Lessee has terminated this Agreement, pursuant to 6.06, Lessee shall be deemed to have exercised its
option to continue this Agreement for the next Renewal Term until the maximum Lease Term has been completed. 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 in Section 4.02 of this Agreement.
4,02, ER NTAL PAYMENTS. The payments required under the Agreement for the Equipment designated on this Sahadule
$ 54.629.00 beginning 02/24 19 95, and continuing the 24 th ay of each
August & February thereafter, in sequence, for a total of six (6) payments. The payments
required under this Schedule are made up of the total purchase price to Municipal Leasing Credit Corporation of
300,000.00 and deferred interest charges to maturity of 27,774.00 for a total Agreement price of
3 . The Payment Schedule Is as attached.
4.03. PREPAYMENT 822 PURCHASE SCHEDULE. The Equipment may be purchased only on the tact day of the Originet Term or
any Renewal Term, except as descrioed In Subsection 11.01 (C) of the Agreement. The Purchase Price Is In addition to
all Rental Payments then dot. The Purchase Price as provided for In the Agreement Is as follows: __
PERIOD _- •
PURCHASE -- - - -- '- PURCHASE PRICE AMOUNT
Original Term
Renewal Term 1
Renewal Term 2
Renewal Term 3
Renewal Term 4
Renewal Term 5
Renewal Term 6
Renewal Term 7
SEE ATTACHED AMORTIZATION.
• £ Q4. DELIVERY. INSTALLATION, AND ACCEPTANCE OF EQUIPMENT. Lessee shall order the Equipment, shall cause the
Equipment to be delivered and Installed et the location specified above in Equipment Description and shall pay all
delivery and installation costs, if any, in connection therewith. When the Equipment is delivered and installed, lessee
shall immediately accept the Equipment and evidence said acceptance by executing and delivering to Lessor the Acceptance
Certificc:e In the form attached hereto as Exhibit D.
5.01. ENJOYMENT OF EQUIPMENT. Lessor shall provide Lessee during the Lease Term with quiet use and enjoyment of
the Equipment, and Lessee shall during the Lease Term peaceably and quietly have, hold and enjoy the Equipment, without
suit, trouble or hindrance from Lessor, except as expressly set forth in this Agreement. Any Registered Owner shall not
interfere with such quiet use and enjoyment during the Lease Term so long as Lessee is not in default under this
Agreement.
5.02. LOCATION INSPECTION. Once installed, the Equipment will not be moved from the location specified above in
Equipment Description without lessor's consent, which shall not be unreasonably withheld. Lessor shall have the right
at all reasonable times during business hours to enter into and upon the property of Lessee for the purpose of inspecting
the Equipment.
6,01, RENTAL PAYM S CONSTITUTE UC RRENT 4 PENSE OF LESSEE. Lessor and Lessee understand and intend that the
obligation of Lessee to pay Rental Payments hereunder shall constitute a currant expanse of Lessua and 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, nor shall anything contained herein constitute a pledge of
the general tax revenues, funds or moneys of Lessee.
6_02 PAYMENT OF RENTAL PAYMENTS. Lessee shall pay Rental Payments, exclusively from legally available funds, in
lawful money of the United States of America, to Lessor in such amounts and on such dates as described i n Section 4.02
18
hereto. Lessee shall pay Lessor a charge on any delinquent Rental Payments at the rate of x per annum or the maximum
amount permitted by law, whichever is less.
6 03. INTEREST COMPONENT. A portion of each Rental Payment is paid as, and represents payment of, interest, and
Section 4.02 hereto sets forth the interest component of each Rental Payment during the Lease Term.
6.04• RENTAL PAYMENTS )S )IE UNCONDITIONAL. Except as provided In Section 6.06, the obligations of Lessee to make
payment of the 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, setoff or defense, for any reason,
including without limitation any failure of the Equipment to be delivered or installed, any defects, malfunctions, break-
downs or infirmities in the Equipment or any accident, condemnation or unforeseen circumstances.
6_05. CONTINUATION E. LEASE TERM 05 122E2. Lessee intends, subject to Section 6.06, 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 Original Term and each of
the Renewal Terms 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.
6.06. NONAPPROPRIATION. The Lessee is obligated only to pay periodic payments under the Agreement as may lawfully
be made from funds budgeted and appropriated for that purpose during Lessee's then current budget year. Should Lessee
fail to budget, appropriate or otherwise make available funds to pay Rental Payments following the then current Original
or Renewal Term, this Agreement shall be deemed terminated at the end of the then current Original or Renewal Term.
Lessee agrees to deliver notice to Lessor of such termination at least ninety (90) days prior to the end of the then
current Original or Renewal Term, but failure to give such notice shall not extend the term beyond such Original Term or
Renewal Term. If this Agreement is terminated in accordance with this Section, L green peaceably to deliver the
Equipment to Lessor at the location(s) to be specified by Lessor and to transfer to Lessor any funds provided by Lessor
to Lessee for the purchase of the Equipment that have not been paid to the Vendor for the purchase of the Equipment.
6.07. NONSU0STITUTION. To the extent permitted by law, Lessee agrees that, if this Agreement 1s terminated in
accordance with 6,06, Luse will not purchase, lease or rent equipment performing function. similar to those performed
by the Equipment for a period of ninety )90) days from the and of the then current Original o, Renewsi Term; provided
these restrictions 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, are sufficient to
pay the then applicable Purchase Price specified in Section 4.03 hereto. This Section shall remain in full force and
effect notwithstanding the termination of this Agreement.
7.01. TITLE TO THE EOUIPNENT. Upon acceptance of the Equipment by Lesson, 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 (1)any
termination of this Agreement without Lessee exercising its option to purchase pursuant to 11.01 or (ii)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. Nevertheless, Lessee shall execute and deliver any such instruments as Lessor may request to evidence such
transfer.
7.02. SECURITY INTEREST. To secure the payment of all of l 's obligations under this Agreement, Lessee grants
to Lessor a security interest constituting a first lien on the Equipment and on all additions, attachments, accessions
thereto, substitutions therefor and on any proceed. therefrom. Lessee agrees to execute such additional documents,
including financing statements, affidavits, notices and similar instruments, in form satisfactory to Lessor, which Lessor
deems necessary or appropriate to establish and maintain its security Interest and, upon assignment, the security
interest of the Registered Owners or any other assignee of Lessor in the Equipment.
7.03. PERSONAL PROPERTY. The Equipment is and will remain personal property and 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 real estate or any building thereon. If
requested by Lessor, Lessee will, at Lessee's expense, furnish a waiver of any Interest in the Equipment from any party
having an interest in any such real estate or building.
8.01. MAINTENANCE OF EOUIPMENT gY EL SSEE. Lessee agrees that, at all times during the Lease Term, Lessee will,
at Lessee's awn cost and expense, maintain, preserve and keep the Equipment In good repair and working order. Lessor
shalt have no responsibility to maintain, repair or make improvements or additions to the Equipment. 1f requested by
Lessor, Lessee will enter into a maintenance contract for the Equipment with Vendor.
8.02. LIE ,NS TA% ,ES OTHER GOVERNMENTAL CHARGES AND UT T ;limas. 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 the purpose of performing only essential governmental uses and public functions of Lessee
and, therefore, that the Equipment will be exempt from all property taxes. Nevertheless, if the use, possession or
acquisition of the Equipment is 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 gas,
water, steam, electricity, heat power, telephone, utility and other charges incurred in the operation, maintenance, use,
occupancy and upkeep 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.
8 03. INSURANCE. Paragraph 1. At its own expense, Lessee shall. cause casualty, public liability and property
damage insurance on the Equipment to be tarried and maintained In an amount equal to the Full Insurable Value of the
Equipment and to protect Lessor from liability in all events. All insurance proceeds from casualty losses shall be
payable as hereinafter provided in this Agreement. Lessee shall furnish to Lessor certificates evidencing such Coverage
throughout the Lease Torm. Lessee shall furnish to Lessor certificates or policies which cover not only the Equipment
but other equipment and properties as well. If Lessee shall insure similar equipment and properties by self - insurance,
Lessee may, if the same be approved by the Lessor, Insure the Equipment by means of adequate insurance fund set aside
and so maintained.
Paragraph 2. Lessee shall carry worker's compensation insurance covering all employees working on, in, near, or
about the Equipment, or demonstrate to the satisfaction of Lessor that adequate self- insurance is provided and shall
require any other person or entity working on, in, no r , , or about the Equipment to carry such coverage. Lessee shalt
furnish to Lessor certificates evidencing such coverage throughout the Lease Term.
Paragraph 3. Any insurance policy issued pursuant to this Section 8.03 shall be so written or endorsed as to make
losses, If any, payable to L essee and Le.or as their respective Interests may appear. The Net Proceeds (as defined in
Section 9.01) of the Insurance required In this Section 8.03 shall be applied as provided In Section 9.02 hereof. Each
insurance policy provided for In this Section 8.03 shall contain • provision to the effect that any Insurance company
providing cev.raq. .hall not cancel the policy or modify it materially and adversely to the Intent of Lessor without
I,,., giving . ten nnl ir. Il,.,.nf to Is.ain at Ionia 1.11 (1f1) days In advance of snch cancellation.
110 ADVANCES. In the event L hall 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 of 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 1g0 per annum or the maximum amount permitted by law, whichever is Less.
9.01. DAMAGE. DESTRUCTION ANl CONDEMNATION. If (a) the Equipment or any portion thereof is destroyed, in whole or
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 sate 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 by making payment of the Purchase Price as provided herein. Any balance of the Nat Proceeds remaining after
such work has been completed shall be paid to Lessee.
For purposes of 8.03 and this Article, the term "Net Proceeds" shall mean the amount remaining from the gross
proceeds of any insurance claim, condemnation award or sate under throat of condemnation after deducting all expenses.
Including attorneys' fees, incurred In the collection thereof.
9, 02. INSUFFICIENCY OE NET PROCEEDS. If the Net Proceeds are Insufficient to pay in full the cost of any repair,
restoration, modification or improvement referred to In 9.01, L hall either (a) complete such replacement, repair,
restoration, modification or improvement and pay any costs thereof in excess of the amount of the Net Proceeds and, 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 4.01 -4.04, hereof, or (b) porch..
Lessor's Interest in the Equipment pursuant to 11.01 by paying the then applicable Purchase Price. The amount of the
Net Proceeds, if any, remaining after completing such replacement, repair, restoration, modification, or improvement or
after paying the then applicable Purcha. Price, may be retained by L
10.01. OISCLAINER OF WARRANTIES. Lessor makes no warranty or representahien, either expressed 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, or functioning of
Lessee's use of any item, product or service provided for in this Agreement.
10_02. VENDOR'S WARRANTIES, Lessor hereby irrevocably appoints L Its agent and attorney -in -fact during the
Lease Term, so long as Lessee shall not k. In default hereunder, to .set (raid time to limo whatever claims and rights
(including without limitation warrants..) related to the Equipment that Lessor may have against the Vendor. L 's
sote remedy for the breech of such warranty, indemnification or representation shall be against the vendor of the —
Equipmont, and not against Lessor, nor shall such matter have any effect whatsoever on the rights and obligations of
Lessor with respect to this Lease, 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 of the Vendor of the Equipment.
10.03. USE OF TR EQUIPMENT. L ill not install, use, operate or maintain the Equipment improperly,
carelessly, in violation of any applicable law or in • manner contrary to that contemplated by this Agreement. L
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 laws of the Jurisdiction in which its operations involving any
item of Equipment may extend and any legislative, executive, administrative or judicial body exercising any power or
jurisdiction over the items of the Equipment; provided that Lessee may contest in good faith the validity or application
of any such law or rule in any reasonable manner which 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.
11.01. PURCNAS OPTION. Lessee shall have the option to purchase Lessor's interest in the Equipment upon giving
written notice to Lessor at least sixty (60) days before the time of purchase, at the following times and upon the
following terms:
(a) On the last day of the maximum Lease Term, If the Agreement 1s still in effect on such day, upon payment in full
of Rental Payments due hereunder and the payment of One (1) Dollar to Lessor;
(b) 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 to Lessor; or
(c) In the event of substantial damage to or destruction or condemnation of substantially all of the Equipment on
the day specified 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.
12.01, ASSIGNMENT 31. 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 their Interest, by any Registered Owner, without the necessity of obtaining the consent of Lessee; provided
that (i) any assignment, other than an assignment 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 (II) any
assignment by a Registered Owner shall not be effective until it Is registered on the registration books kept by the
Agent. Lessee shall retain all such notices as a register of all assignee. (other than Registered Owners) and shall
make all payments to the assignee or assignee. designated In such register or, In the case of the 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 right to and shall not assert against any assignee or Registered Owner any claim.
counterclaim or other right Lessee may have against Lessor.
12.02. 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
Si( or part of the Equipment if Lessee obtains the prior written consent of Lessor and an opinion of counsel satisfactory
to Lessor that such subleasing will not adversely affect the exemption of the interest components of the Rental Payments
from federal income taxation. Any such sublease of all or part of the Equipment shall be subject to this Lease and the
rights of the Lessor in, to and under this Lease and the Equipment.
12.03, RELEASE ARD INDEMNIFICATION COVENANTS. To the extent allowed by law, Lessee shall indemnify, protect,
hold harmless, save and keep harmless Lessor from and against any and all liability, obligation, loss, claim and damage
whatsoever, regardless of cause thereof, and all expenses in connection therewith, including, without limitation, counsel
fees and expenses, penalties and interest arising out of or as the result of the entering into of this Agreement, the
ownership of any item of the Equipment, the ordering, acquisition, use, operation, condition, purchase, delivery,
rejection, storage or return of any item of the Equipment 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. 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.
13.01. EVENTS 4E DEFAULT DEFINED. Any of the following 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 thirty (30) days after written notice
specifying such failure and requesting that it be remedied, as 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
t
corrective action is Instituted by Lessee within the applicable period and diligently pursued until the ' deleult Is
corrected; or a
(c) Any statement, representation or warranty made by L In or pursuant to this Lease or Its execution, delivery
or performance .hall prove to have been false, incorrect, misleading or breached In any material respect on the date when
made.
The foregoing provisions of this Section are subject to the provisions of 6.06 with respect to nonappropriation.
13.02. 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 (i) 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 such place within the Unitud States as lessor shall specify, and sell or lease
the Equipment or, for the account of Lessee, sublease the Equipment and (11) may demand the transfer, and Lessee shall so01!
transfer, to the Lessor of any funds provided by Lessor to Lessee for the purchase of the Equipment that ha; n ``absin.( //,,
paid to the Vendor, continuing to hold L liable for the difference between (e) the Rental Payments and:Ah " "J�N
b
payable by Lessee hereunder to the end of the then current Original Term or Renewal Term, as the case may.. anC ,(6 the
net proceeds of any such sale, leasing or subleasing and such transfer of unspent funds for the purchaseeof,,t14 4
(after Deducting all expenses of Lessor In exercising its remedies under this Agreement, including withoUi itstion,`1 "
expenses of taking possession, storing, reconditioning and selling or leasing the Equipment and';illibr6ke ` .• ge, ,s1 C
auctionaarc and attorney's fees); and L �„ 6 "
(c) Lessor may take whatever action at law or in equity may appear necessary or desirable to enforce "!is- .'r ".,•\ •
the owner of the Equipment. "•rr�.J - �� v v °
13 NO REMEDY EXCLUSIVE. No remedy herein conferred upon or reserved to Lessor is intended to be exclUsive7
and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Lease 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.
14.01. 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 (other than a Registered Owner) at its
address as it appears on the registration books maintained by Lessee and to any Registered Owner at its address as it
appears on the registration books maintained by the Agent.
14_02. CERTIFICATE Al TO ARBITRAB €. 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 bean ordered or is expected to be ordered within six months after the commencement date
hereof, which contract will obligate the payment by the Lessee of not to than 5100,000, or 2 1/2X of the face amount of
the Agreement, whichever is less. The Lessee will proceed with due diligence to acquire the Equipment. The Equipment
is expected to be delivered and installed, and the Vendor fully paid, by 3 years from the commencement date.
(c) Lessee has not created or established, and does not expect to create or establish any sinking fund or other
similar fund (i) that is reasonably expected to be used to pay the Rental Payments, or (11) that may be used solely to
prevent a default In the payment of Rental 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 its 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.
14.03. 4IN2ING EFFECT. This Agreement shell Inure to the benefit of and shall be binding upon Lessor and
and their respective successors and assigns.
14,04. SEVERABILITY. In the event any provision of this Agreement shall be held Invalid or unenforceable by any
court of competent Jurisdiction, such holding shalt not Invalidate or render unenforceable any other provision hereof.
(4,34, AMENUMENIS,, CIIANOES AND iI.ODILICAIIOH4. 161. Agreement may be emended by Lessor and L ; provided that
no such amendment which 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.
14_06. EXECUTION IN COUNTERPARTS. This Agreement may be simultaneously executed in several counterparts, each
of which shall be an original and all of which shalt constitute but one and the same instrument.
14.07. APPLICABLE la. This Agreement shall be governed by and construed in accordance with the laws of the
State.
14_,0 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 section of the Agreement.
IN WITNESS WHEREOF, Lessor and Lessee have caused this Agreement to 6e executed in their names by their duly
authorized representatives as of the date first above written.
LESSOR: MUNICIPAL LEASING CREDIT CORPORATION LESSEE: CI)Y OF ROUND ROCK
By: CD Q,
Printed / Prin Searcy Name:
Charles Culpepper
Name: Carol D.
Title: President
Address: 10520 Barkley '
Suite 5
Overland Park, Ks. 66212 -1823
=)1
,. SEAL/�v
. , ;;A
Address:
er (LESSEE SEAL]
Title: Mayor
ATTEST:
Title:
221 East Main St.
Round Rock, TX 78664
mavimaj
nne Land, Secretary
1
Re: Equipment Lease /Purchase, dated as of 0 8/ �3 ,19 94 between Municipal Leasing Credit Corporation,
as Lessor, and City of Round Rock
1, the undersigned, the duly appointed qualified and Ring secretary (Clerk or Secretary) of the above - captioned
Lessee do hereby certify this da of� 1944 as follows:
41:03/12L21_,19 ((11) Lessee did, at a (regular or special) meeting of the governing body of the Lessee held
by otion duly made, seconded and carried, in accordance with all requirements of law,
approve and a uhorize the execution and delivery of the above - referenced Equipment Lease /Purchase Agreement (the
"Agreement ") on its behalf by the following named representative of the L t• wit:
xame Charles Culeeeeer Title Ma or
[LESSEE SEAL] .�(
(If no seal, �
initial here: )
Subscribed to and sworn before me this
Notary Public:
[LESSEE SEAL]
•
EXHIBIT A: MUNICIPAL CERTIFICATE
By:
EXHIBIT B: TAX CERTIFICATE
D.t.: x 9- /5 -gLi
, as Lessee.
(2) The above named representative of the Lessee held at the time of such authorizatio and holds at the present
time, the office set forth above.
(3) The meeting of the governing body of the Lessee at which the Agreement was approved and authorized to be
executed was duty called, regularly convened and attended throughout by the requisite majority of the members thereof and
that the action approving the Agreement and authorizing the execution thereof has not been altered or rescinded.
(4) 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 (as such term is defined in the Agreement) exists at the date hereof.
(5) All insurance required in accordance with the Agreement is currently maintained by the Lessee.
(6) 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 (as such terms are defined in the Agreement) and such funds have not been expended for
other purposes.
(7) The budget year of Lessee is from Oct. 1 t Sept. 30
IN WITNESS WHEREOF, 1 hereunto set my hand and the seal of the governing body of the Lessas the day and year first
above written. -
�0
r F
o STINE �y
CHRISTINE MARTINQ
� H f�yComirwal� ' �DCja97
. L /I AL/ JL ./
4 Y
Printed name: oanne Land
EP ?" day of)A 19 q ii .
My commission expires:
In accordance with Section 1.01(h) and (I) of the Equipment Lease /Purchase Agreement dated 13(1/,'5 19
(the "Agreement "), between Municipal Leasing Credit Corporation, (the "Lessor "), and the undersigned, (the "Lanes "),
1e55as hereby certlfln, represents, warrants and covenants to Lessor as follows:
1). L hereby designetae the Agreement se "qualified lex- exempt obllgatlons" as defined In Section
265(b)(3)(B) of the Code. The aggregate lace amount of ell tax - exempt obligations (excluding private activity bonds)
other than qualified 501 (c) (3) bonds issued or to be issued by L (and all subordinate entities thereof) during the
calendar year 19 94 1s not reasonably expected to exceed $10,000,000. [Omit this paragraph if Inapplicable.]
2). Lessee is a governmental unit under the Law of the State in which Lessee Is situated with general taxing powers;
the Agreement is not a private activity bond as defined in Section 141 of the Code; 950 or more of the net proceeds of
the Agreement will be used for locs( governmental activities of the Lasser and the aggregate fats amount of all tax -
exempt obligations (other than private activity bonds) issued or to be Issued by the L (and all subordinate entities
thereof) during the calendar year 19 94 is not reasonably expected to exceed $5,000,000. [Omit this paragraph if
inapplicable.]
LESSEE: �• /'` �RO nd Rock
J ' / / fit to
Printed Name: Charles C pepper
Title: Mayor
EXHIBIT C: LOCAL COUNSEL'S OPINION
Re: Equipment Lease /Purchase Agreement, dated as of 08/23/94 1994 by and between Municipal Leasing Credit
Corporation, a Kansas corporation, as Lessor, and City of Round Rock as
Lessee.
As legal counsel to Lessee, I have examined (1) an executed counterpart of the Equipment Lease /Purchase Agreement,
dated as of the date stated above, including the Exhibits attached thereto or forms of Exhibits to be attached thereto,
by and between Lessor and Lessee, which inter alia, provides for the lease to, with an option to purchase by, the
of certain property (the "Equipment "), (2) an executed counterpart of the ordinance or resolution of the Lessee which,
inter alia, authorizes the Lessee to execute the Agreement, and (3) such other opinions, documents and matter. of law as
I have deemed necessary in connection with the following opinions.
Based upon the foregoing, it is my opinion that:
(1) Lessee is a public body corporate and politic, duly organized and existing under the laws of the State, as
defined in the Agreement, and is a state or political subdivision as such terms are used in Section 103 of the Internal
Revenue Code of 1986;
(2) Lessee has the requisite power and authority to lease with an option 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 the Lessee, and the Agreement Is a valid and binding obligation of the L
enforceable in accordance with its terms;
(4) the authoritatlon, approval and a x ecution of the Agreement and all other proceedings of the Lessee relating to
Ih. Iranear.tlor�a Lonlemplala,l iher.by hove bean p.rform.,l In accordance with all open meeting laws, public bidding laws
end all other applicable state or federal laws;
(5) The Lessee has, in accordance with the requirements of Law, fully budgeted and appropriated funds for the
current budget year to meet its obligation for the Original Term (as defined In the Agreement); and"
9 .
(6) There is no proceeding pending or threatened in any court or before any governmental authority or arbitration
board or tribunal which, ,(f adversely determined, would adversely affect the transactions contemplated by the Agreement
or the security interest of the Lessor or Its assigns, as the case may be, in the Equipment.
Respectfully submitted,
H181Z ONLY,
Signature: S n PM R E TYP D PNO
LESSEE:
By:
Printed Name:
Printed name:
Title:
Address:
Title: Mayor
Date: )( 9-15
Telephone No.:
Date:
EXHIBIT 0: ACCEPTANCE CERTIFICATE
In accordance with the terms of the Equipment Lease /Purchase Agreement dated 08/23
(the "Lease "), between Municipal Leasing Credit Corporation, ( "Lessor "), and the undersigned ("
certifies and represents to, and agrees with, Lessor ea follows:
1. The Equipment, as such term 1s defined in the Lease, has been delivered, installed and accepted on the date
indicated below.
2. L has conducted such inspection and /or testing of the Equipment as it deems nee essary and appropriate and
hereby acknowledges that it accepts the Equipment for all purposes.
3. No Event of Default, as such term Is defined In The Luse, end no event which with notice or lapse of time, or
both, would become an Event of Default, ha. occurred and Is continuing al the date hereof.
22Z OUND ROCK
Charles Culpepper
,19 9'+ ,
"), Lessee hereby
Form 8038 -G
(Rev. May 1993)
Department of the Treasury
Internal Revenue Senate
1 Issuer's name
Reporting Authority
Information Return for Tax - Exempt Governmental Obligations
► Under Internal Revenue Code se0Uon 149(e)
► See separate Instructions_
(Use Form 8038 -GC if the Issue pnce Is under 3100.000)
CITY OF ROUND ROCK
3 Number and street (or P.O. box If mail is not delivered to street address)
221 East Main St.
5 City, town, sta Rbund ZI K c od e , TX 78664
Name of Issue
City of Round Rock Equipment Lease /Purchase
Agreement dated as of 085/23/94
rZal Type of Issue (check applicable box(es) and enter the issue price)
Room /suite
9 ❑ Education (attach schedule -see instructions)
10 ❑ Health and hospital (attach schedule -see instructions)
11 ❑ Transportation
12 ❑ Public safety
13 ❑ Environment (including sewage bonds)
14 ❑ Housing
15 ❑ Utilities
16 ❑ Other. Describe (see Instructions) ►
17 If obligations are tax or other revenue anticipation bonds, check box • ❑
18 If obligations are in the form of a lease or installment sale, check box • ❑
Part III
Part V
Part VI
Please
Sign
Here
Description of Obligations
Maturity date
(h)
Interest rate
19 Final maturity.
20 Entire issue / A
Part IV Uses of Ori inai Proceeds of Bond
(c)
issue price
Issue (including
For Paperwork Reduction Act Not e, see page 1 of the Instructions.
(d)
Stated relleZnlon
price at mvay
24
25
OMB No 1545-0720
If Amended Retu n, check here Pi-
2 Issuer's employer Identification number
7 6017485
4 Report numt
0199 _
6 Date of issue
8 CUSIP Number
Issue pnce
Weighted Yenld
average matun Net interest
ry cost
years % 9'e
underwriters discount)
21 Proceeds used for accrued interest
22 Issue price of entire issue (enter amount from line 20, column (c))
23 Proceeds used for bond issuance costs (Including underwriters' discount)
24 Proceeds used for credit enhancement
25 Proceeds allocated to reasonably required reserve or replacement fund
26 Proceeds used to refund prior issues 26
27 Total (add lines 23 through 26) 27
28 Nonrefunding proceeds of the issue (subtract line 27 from line 22 and enter amount here). - 28
Description of Refunded Bonds (complete this part only for refunding bonds)
29 Enter the remaining weighted average maturity of the bonds to be refunded O. years
30 Enter the last date on which the refunded bonds will be called •
31 Enter the date(s) the refunded bonds were issued •
21
j
Miscellaneous
32 Enter the amount of the state volume cap allocated to the issue ►
33 Enter the amount of the bonds designated by the issuer under section 265(b)(3)(B)()(III) (small issuer
exception)
34 Pooled financings:
a Enter the amount of the proceeds of this issue that are to be used to make bans to oth• governmental units ►
b If this issue is a loan made from the proceeds of another tax - exempt issue, check box ► ❑ and enter the name of the
issuer • and the date of the issue ►
35 If the issuer has elected to pay a penalty in lieu of rebate, check box ► ❑
Under penalties -• perjury, I declare that I have examined thrs return and accompanying schedules and statements, and to the best of rmy knowledge
and belief, th,, are true, correct, and complete.
Q_/5 - 94 Charles Culpepper, Mayor
Date Type or pnnt name and tnie
Cat. No. 637735 Form 8038-G (Rev 5 -93)
'U.S Goverment Printing Olri0e• 1993 - 343.034/80150
By
•
This FINANCING STATEMENT is presented to a
1. Debtor(s) (lost Nome First) and oddress(es)
City of Round Rock
221 East Main St.
Round Rock, TX 78664
4. This fmoncrng statement covers the following types (or items) of property:
This statement is tiled without the debtor's signature to perfect o security interest in collateral (check ( d sal I Filed with•
already subject to a security interest in another jurisdiction when it was brought into this store.
0 which is proceeds of the original collateral described above in which a security interest was perfected.
UNIFORM COMMERCIAL CODE — FINANCING STATEMENT — FORM UCC-1
INSTRUCTIONS
I DIEASE LYDE rhn lean fold only elon9 pelerenwn lee maln9
] e to a.. Secured P hv 3 roper . ..I nnnkawd ca
b n Popes me taa ate.. e.� ee
1q, l
] it e r t tP(4 Cwt. wd Debtor eepres end send oi for ee nwnf.l on Me 1wm n �node the nem114 b renhrwed en oddeo.tl r :1 �ekrT 5�. an m e' a ta" Onl anerep I l +wh a r
0M1evs , tr e+e nr e m Me tnn ettnn rnh a+N of three r.Dn. el M1e hno.. uwemenr le•p nMfh. tl atmntl, rndmtm., ew, may b on an +ixe peps Mar n rem
or fM1e +.prod 9 .04 ird.. Me rwnb al eddnwntl rti 0 anwhed
a If When a c oi n w 9ood+.bM1 me w we m bna Muse+ denrib,,molly Me red b e cc aril 9 y our u
5 whenaropy alth tnolIR y 1 0eeemeinn mod ahnwind t ent' a e nure led ed ien nb *4,. ..e : . ina ?4 4.0 butpenned+nelthewfo n+,w050.0 ed .713 lee
e Ar Me time of w' rid IRnq fling .Hoer +M1OUId return thud rapt m on mfro.ledpemenl 4t o lore rwe,+drd pray mry dole and uqn tvminelrv. legend o wl vs. Oval mDY
n+a tvmwmwn S*Temem
filing officer for filing pursuant to the Uniform Commercial Code. 13. Maturity dote (If any):
2 Secured Porty(ies) and address(es)
Municipal Leasing Credit Corp.
P.O. Box 12441
Overland Park, KS 66282 - 24)1
For Filing Officer (Date, Time,
Number, and Filing Office)
5. Asstgnee(s) of Secured Party and
Addresses)
Check ❑x it covered. proceeds of Collateral ore also covered. ❑ Products of Collateral ore also covered No. of additional Sheets presented.
o Round Rock Municipal _easing Credit Corp.
Signatur
1 F I,ng Cff.cer�C
tor(s)
- Alphabetical
Mayor President
ayor a
Y
Title Slgrs:re s .l Secured Perty(les) Title
STANDARD FORM- FORM UCC•1. `For I use In Molt States;
•
UNIFORM COMMERCIAL CODE — FINANCING STATEMENT — FORM UCC -1
INSTRUCTIONS
1
PLEASE TYPE Ihn loom Fold only along per1orota+ln maim
2 Remove Snmed P d Debto. ropes v, 4 an ether 3 m pnn wnh mt &eared cmbon pope ro tM TRp d i cer E Mese l
I�ro In
3 II she space povdla aq nem h) en the lam n Tnode th < no m((a ' +h euld be mnn,wM an eddnad Aen +, velneN y^ . " n B K . I V' Only one<opyd wrh addnwnd
ahntv . h penied ra the Mi ng eNeer wdh a ad el IMn wpr.„,,,,,, i mam,,,q aialemem lep+ched/e+ of adlatnd, tnd mq h on any nee pvpn tM1m ,+ion
e I m for the secon pity Ind<me rM mmbe. pT oddm
l �dlme.d n aep a gaed+ wheh ,t . d o baane lvNr de s. be 9enereny she veal epme end a^e none of rnad owner
s When of the a« agreement nos. m .Nn third mom rq s+axmm+ prod A. Ih ccon.0 d a ca•plmed but v,nanad set of these la mn lend n
1 a Sim Ming oeen should re r copy ochnowledgemenr o I mo. ed party may dale and von Term p o d
6 use Hurd copy
4. This financing statement covers the following types (or dems) of property
By.
Thu FINANCING STATEMENT is presented to
1 Debtor(s) (last Nome First) and address(es)
City of Round Rock
221 East Main St.
Round Rock, TX 78664
This statement is filed without the debtor' signature to perfect a security interest in collateral. (check ❑x if so)
❑ already subject to a security interest in another jurisdiction when it was brought into this state
❑ which is proceeds of the original colioteral described above in which a security interest was perfected:
Check ❑14 if covered 04Proceeds of Collaterol are also covered. ❑ Products of Collateral are also covered. No. of additional Sheets presented:
E Rou d Rock Municipal Leasing Credit Corp.
y 41
•.o
Sign `u I Debtor)s)
1 ' Filing Officer Copy- Alphsbeti co!
a filing officer for filing pursuant to the Uniform Commercial Code:
2. Secured Porty(ies) and address(es)
Municipal Leasing Credit Corp.
P.O. Box 12441
Overland Park, KS 66282 -2441
Mayor
e sl r...
Bv.
Filed wnh
I 3. Maturity date (If any)
For Filing Officer (Date, Time,
Number, and Filing Office)
S. Assignee(s) of Secured Party and
Address(es)
President
elsl of Secured Partyies) Tdle
(For Use In Most Stctes)
STEPHAN L SHEETS
KEVIN HENDERSON
CHARLES D CROSSFIELD
CARY L BOVEY
STEPHAN L. SHEETS Sc ASSOCIATES, P.C.
ATTORNEYS AT LAW
309 E. MAIN STREET
ROUND ROCK, TEXAS 78664.5246
September 16, 1994
Municipal Leasing Credit Corporation
10520 Barkley, Suite 5
Overland Park, Kansas 66212 -1823
TELEPHONE
15121 255 -8877
FAX
15121 255-8986
Re: Equipment Lease /Purchase Agreement, dated as of August 23, 1994, by
and between Municipal Leasing Credit Corporation, a Kansas
corporation, as Lessor, and City of Round Rock, as Lessee.
Dear Gentlemen:
As legal counsel to Lessee, I have examined (1) an executed
counterpart of the Equipment Lease /Purchase Agreement, dated as of the
date stated above, including the Exhibits attached thereto or forms of
Exhibits to be attached thereto, by and between Lessor and Lessee, which
inter alia, provides for the lease to, with an option to purchase by,
the Lessee of certain property (the "Equipment "), (2) an executed
counterpart of the ordinance or resolution of the Lessee which, inter
alia, authorizes the Lessee to execute the Agreement, and (3) such other
opinions, documents and matters of law as I have deemed necessary in
connection with the following opinions.
Based upon the foregoing, it is my opinion that:
(1) Lessee is a public body corporate and politic, duly organized
and existing under the laws of the State, as defined in the Agreement,
and is a state or political subdivision as such terms are used in
Section 103 of the Internal Revenue Code of 1986;
(2) Lessee has the requisite power and authority to lease with an
option 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 the Lessee, and the Agreement is a valid and binding
obligation of the Lessee enforceable in accordance with its terms;
EXHIBIT "C"
Municipal Leasing Credit Corporation
September 15, 1994
Page 2
(4) The authorization, approval and execution of the Agreement and
all other proceedings of the 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 or
federal laws:
(5) The Lessee has, in accordance with the requirements of law,
fully budgeted and appropriated funds for the current budget year to
meet its obligation for the Original Term (as defined in the Agreement);
and
(6) There is no proceeding pending or threatened in any court or
before any governmental authority or arbitration board or tribunal
which, if adversely determined, would adversely affect the transactions
contemplated by the Agreement or the security interest of the Lessor or
its assigns, as the case may be, in the Equipment.
Respectfully submitted,
STEPHAN L. SHEETS & ASSOC., P.C.
309 East Main
Round Rock, Texas 78664
(512) 255 -8877
(512) 255 -8986 Fax
By:
Stepha
State
L. Sheets
ar No. 18180800
Attorney for the
City of Round Rock, Texas
City of Round Rock
Finance Department
221 East Main St.
Round Rock, TX 78664 -5299
September 1, 1994
INVOICE
94823 - SA
MUNICIPAL LEASING CREDIT
C O R P O R A T I O N
Re: City of Round Rock Equipment Lease /Purchase Agreement
dated as of 08/23/94, Bid #17 -94 -0001
For: Issuance Fees
Due Date: Return of signed documents Amt.Due: $500.00
Please check payable to, and mail to:
Municipal Leasing Credit Corporation
10520 Barkley, Ste. 5
Overland Park, KS 66212 -1823
10520 BARKLEY, SUITE 5 • OVERLAND PARK, KANSAS 66212 -1823 • 913/381 -1900 • FAX 913/381 -0105
ACCEPTANCE AND PAYMENT REQUEST FORM
To: Municipal Leasing Credit Corporation
10520 Barkley, Ste. 5
Overland Park, KS 66212 -1823
Re: Equipment Lease /Purchase Agreement, dated as of 08/23
19 94 , between Municipal Leasing Credit Corporation and
City of Round Rock
In accordance with the terms of the Equipment Lease /Purchase Agreement
dated 08/23 , 19 94 , (the "Lease "), between Municipal
Leasing Credit Corporation, Inc. ( "Lessor ") and the undersigned ( "Lessee "),
Lessee hereby certifies and represents to, and agrees with, Lessor as
follows:
1. The Equipment, as described herein, has been delivered, installed and
accepted on the date indicated below. Said Equipment is part or all of
the "Equipment" that is the subject of the above - referenced Equipment
Lease /Purchase Agreement.
Quantity Description Serial /VIN Amount
2. Lessee has conducted such inspection and /or testing of the above -
described Equipment as it deems necessary and appropriate and hereby
acknowledges that it accepts the Equipment for all purposes.
3. No Event of Default, as such term is defined in the Lease, and no event
which with notice or lapse of time, or both, would become an Event of
Default, has occurred and is continuing at the date hereof.
Therefore, as Lessor for the above - referenced Lease /Purchase Agreement,
you are hereby requested to pay from the Escrow Fund to the person or
corporation designated below as Payee, the sum set forth above in payment
of a portion or all of the cost of the acquisition of the equipment
described above. The amount shown is due and payable under the invoice of
the Payee with respect to the cost of the acquisition of the equipment and
has not formed the basis of any prior request for payment. The equipment
described above is part or all of the "Equipment" that is subject to the
Equipment Lease /Purchase Agreement.
Payee: Dated: X 9 , 1994
LESSEE: /14/177 Rock
•
By:
Title: • n'►Ryg2
A le Please retain this form. When the Equipment has been delivered and accepted,
sign and return to MLCC. This form authorizes us to release payment
to the Vendor.
ROUND ROCK, TEXAS Page 1
$300,000.00 on Aug. 24, 1994 at 5.17995% with 6 Semi - Annual Payments
360 -day Year
Purchase Price Amount/
7i Payment Date Total Payment Interest Amt Principal Amt Remaining Bal.*
1 Feb. 24, 1995
2 Aug. 24, 1995
54,629.00
54,629.00
Annual Subtotal 109,258.00
3 Feb. 24, 1996
4 Aug. 24, 1996
54,629.00
54,629.00
Annual Subtotal 109,258.00
5 Feb. 24, 1997
6 Aug. 24, 1997
54,629.00
54,628.99
Annual Subtotal 109,257.99
AMORTIZATION SCHEDULE
Date: X 945-94
7,769.92 46,859.08
6,556.29 48,072.71
14,326.21 94,931.79
5,311.22 49,317.78
4,033.90 50,595.10
9,345.12 99,912.88
2,723.50
1,379.16
4,102.66 105,155.33
Totals 327,773.99 27,773.99 300,000.00
*plus applicable interest to date of payoff
ACKNOWLEDGED AND ACCEPTED: Cit of Round Rock
.41,4_ ee
By:
Title: Charles Culpep er, Mayor
253,140.92
205,068.21
155,750.43
105,155.33
51,905.50 53,249.83
53,249.83 0.00
Re: City of Round Rock Equipment Lease /Purchase Agreement (the
"Agreement ")
As allowed in Section 14.05 of the above - mentioned Agreement,
Municipal Leasing Credit Corporation (as "Lessor ") and City of
Round Rock (as "Lessee ") hereby agree to amend the above - mentioned
Agreement as follows:
Section 6.06. Nonappropriation. shall be deleted in its entirety
from this Agreement.
The following paragraph shall be inserted into the Lease as Section
6.06:
Section 6.06. Tax Levy. A special Interest and 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
the City at an official depository bank of the City. The
Interest and Sinking Fund shall be kept separate and
apart from all other funds and accounts of the City, 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 City shall compute and ascertain a
rate and amount of ad valorem tax 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 such principal
comes due (but never less than 2% each year); and said
tax shall be based on the latest approved tax rolls of
the Lessee, with full allowance being made for tax
delinquencies'and the cost of tax collection.
This new Section 6.06 shall take effect upon execution of this
Amendment by Lessor and Lessee below. All other terms and
conditions of the agreement remain the same.
IN WITNESS WHEREOF, Lessor and Lessee have caused this amendment to
be executed in their names by their duly authorized
representatives.
MUNICIPAL LEASING CREDIT CORP. CITY OF ROUND ROCK
(Lessor) (Lessee)
By: By: G
Title: President Title: Mayor
Date: 7/� -3 /I Date: 9-/5
AGRELEAS
AMENDMENT
STEPHAN L. SHEETS
KEVIN HENDERSON
CHARLES D. CROSSFIELD
CARY L. BOVEY
STEPHAN L. SHEETS Bc ASSOCIATES, P.C.
ATTORNEYS AT LAW
309 E MAIN STREET
ROUND ROCK. TEXAS 78664 -5246
September 16, 1994
EXHIBIT "C"
TELEPHONE
15121 255 -8877
FAX
(5121 255-8986
Municipal Leasing Credit Corporation
10520 Barkley, Suite 5
Overland Park, Kansas 66212 -1823
Re: Equipment Lease /Purchase Agreement, dated as of August 23, 1994, by
and between Municipal Leasing Credit Corporation, a Kansas
corporation, as Lessor, and City of Round Rock, as Lessee.
Dear Gentlemen:
As legal counsel to Lessee, I have examined (1) an executed
counterpart of the Equipment Lease /Purchase Agr eement, dated as of the
date stated above, including the Exhibits attached thereto or forms of
Exhibits to be attached thereto, by and between Lessor and Lessee, which
inter alia, provides for the lease to, with an option to purchase by,
the Lessee of certain property (the "Equipment "), (2) an executed
counterpart of the ordinance or resolution of the Lessee which, inter
alia, authorizes the Lessee to execute the Agreement, and (3) such other
opinions, documents and matters of law as I have deemed necessary in
connection with the following opinions.
Based upon the foregoing, it is my opinion that:
(1) Lessee is a public body corporate and politic, duly organized
and existing under the laws of the State, as defined in the Agreement,
and is a state or political subdivision as such terms are used in
Section 103 of the Internal Revenue Code of 1986;
(2) Lessee has the requisite power and authority to lease with an
option 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 the Lessee, and the Agreement is a valid and binding
obligation of the Lessee enforceable in accordance with its terms;
Municipal Leasing Credit Corporation
September 15, 1994
Page 2
(4) The authorization, approval and execuzion of the Agreement and
all other proceedings of the 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 or
federal laws:
(5) The Lessee has, in accordance with =_.^e requirements of law,
fully budgeted and appropriated funds for the current budget year to
meet its obligation for the Original Term (as de fined in the Agreement);
and
(6) There is no proceeding pending or threatened in any court or
before any governmental authority or arbitration board or tribunal
which, if adversely determined, would adversely affect the transactions
contemplated by the Agreement or the security interest of the Lessor or
its assigns, as the case may be, in the Ecuip -en=.
Respectful =:: submitted,
STEPHAN L. SHEETS & ASSOC., P.C.
309 East Main
Round Rock, Texas 78664
(512) 255-8E7
(512) 255-8E86 Fax
By:
Stepha L. Sheets
^
State _to. 18180800
Attorney for =he
City of Rc Rock, Texas
COMPANY
ASSET 4)
DESCRIPTION
LEASE PURCHASE AGREEMENT
DATE
DEPT CODE PURCHASED SERIAL NUMBER AMOUNT
940017 NOTEBOOK: MODEM, MEMORY MONO 4 17000 11/03/93 123 2,616.09
940022 CANON COPIER (80-3050) 22000 11/19/93 6,363.49
940033 POWERBOOK 145 12000 12/13/93 1,199.99
940036 1 MACINTOSH CPU QUADRA, EXTEND 14000 12/01/93 X0347470002 2,312.71
940037 1 MACINTOSH CPU QUADRA, EXTEND 14000 12/01/93 X03472310E2 2,312.71
940038 1 MACINTOSH CPU QUADRA, EXTEND 14000 12/01/93 2004723XCE2 2,312.71
940051 CANON NP 3050 WITH STAPLER SOR 20008 12/20/93 5,799.65
940052 COIN BOX KIT 20000 12/20/93 1,331.00
940069 POOL COVER (SERIES 1000 INSULA 23003 12/03/93 4,300.40
940070 COLD WATER WASHER 23003 12/23/93 1,063.70
940071 DRAIN CLEANING MACHINE 23003 12/23/93 1,754.10
940072 LASERJET PRINTER 23004 12/16/93 1,360.00
940074 DELL 450 /0P BASE 23004 12/20/93 2,238.00
940076 DELL 466 /MXV BASE & KEYBOARD 14000 01/04/94 38Q8X 4,916.00
940078 MONITOR - 2 PAGE DIBPAY /21GS R 20000 01/04/94 S104340090138 1,020.00
940081 APPLE - BN1L & CPU QUADRA 650 20000 01/01/94 FC34917K1CD 2,896.00
940090 HEARTSTART 1000 W/ HARD CASE 22011 01/01/94 4,237.53
940092 1994 TORO MOWER 72" CUT DIESEL 23003 01/27/94 40306,5/D DECK 40 8,235.00
940093 1994 TORO MOWER 72" CUT DIESEL 23003 01/27/94 40324,8/8 DECK 40 8,235.00
940094 1994 TORO MOWER 72" CUT 02E0EL 23003 01/27/94 40303,0/0 DECK 40 8,235.00
940095 1994 TORO MOWER 72" CUT DIESEL 23003 01/27/94 40326,8/0 DECK 40 8,235.00
940096 1994 TORO MOWER 72" CUT DIESEL 23003 01/27/94 40254,5/0 DECK 40 8,235.00
940099 BCANJET IICX COLOR W /I0A INTER 18000 02/01/94 83337952562 1,333.00
940141 486 DX 50 (KEYBOARD AND MOUSE 25000 03/15/94 1,502.75
940142 486 DX 50 (KEYBOARD AND MOUSE 25000 03/15/94 1,502.75
940143 486 DX 50 (KEYBOARD AND MOUSE 25000 03/15/94 1,502.75
940144 486 DX 50 (KEYBOARD AND MOUSE 25000 03/15/94 1,502.75
940001 1994 CHBV 810 PICKUP 16000 04/26/94 11008192188203976 11,184.74
940002 1994 CMEV 010 PICKUP 16000 04/27/94 1GCC51928R8203621 11,184.74
940147 COPIER, SORTER /FINISHER - LANI 19000 04/11/94 312363,412551 14,040.00
940150 DI0ITAL A/V MIXER 19000 04/25/94 38A04907 4,686.00
940217 CAMCORDER (SVHS) 19000 04/25/94 J3HB01491 1,552.00
940218 CAMCORDER (5VH5) 19000 04/25/94 L30800045 1,552.00
940125 1994 FORD TAURUS 21006 04/28/94 1PALP5217RG228924 13,592.09
940113 1994 FORD CROWN VICTORIA 21005 04/21/94 2FALP71W7RX147649 14,411.12
940114 1994 FORD CROWN VICTORIA 21005 04/21/94 2FALP71W7RX147649 14,411.12
940124 1994 FORD CROWN VICTORIA 21005 04/20/94 2FALP71W3RX147650 14,411.12
940006 1994 FORD F150 TRUCK 25000 04/01/94 1FT0X1571R16B28349 12,409.00
940005 1994 CHEV 510 PICKUP 25000 04/28/94 1GCCS1927R8206087 11,184.74
940003 1994 CHHV 010 PICKUP 25002 04/25/94 1GCCS192608202483 11,184.74
940112 1994 GMC SIERRA 26000 04/30/94 1GTPC24K702536073 12,736.00
940007 1994 GMC SIERRA 26000 04/30/94 1GTPC240702536073 12,736.00
940209 RESCUE TOOL NWT CONTRL VLV & H 22012 06/30/94 4,394.48
940210 CPU PWR MAC 22012 06/22/94 PC420105254 2,706.00
940004 1994 GNC VANDURA 23003 06/30/94 10T0039K70P533232 14,093.00
940200 STALKER DUAL ANTENNA (KA BAND 21005 06/24/94 2,995.00
940226 MOVING STALKER 21005 06/24/94 3741 2,320.00
940227 MOVING STALKER 21005 06/24/94 3755 2,320.00
940228 MOVING STALKER 21005 06/24/94 3731 2,320.00
940229 MOVING STALKER 21005 06/24/94 3754 2,320.00
940249 1994 FORD TRACTOR (1320) 23000 08/29/94 00026078 0,859.00
GRAND TOTAL 300,235.97
ACCEPTANCE AND PAYMENT REQUEST FORM
To: Municipal Leasing Credit Corporation
10520 Barkley, Ste. 5
Overland Park, KS 66212 -1823
Re: Equipment Lease /Purchase Agreement, dated as of 08/23
19 94 , between Municipal Leasing Credit Corporation and
City of Round Rock
In accordance with the terms of the Equipment Lease /Purchase Agreement
dated 08/23 , 19 94 , (the "Lease "), between Municipal
Leasing Credit Corporation, Inc. ( "Lessor ") and the undersigned ( "Lessee "),
Lessee hereby certifies and represents to, and agrees with, Lessor as
follows:
1. The Equipment, as described herein, has been delivered, installed and
accepted on the date indicated below. Said Equipment is part or all of
the "Equipment" that is the subject of the above - referenced Equipment
Lease /Purchase Agreement.
Quantity Description Serial /VIN Amount
Reimbursement for items pursuant to above Lease 5300,000.00
See Equipment Description.
2. Lessee has conducted such inspection and /or testing of the above -
described Equipment as it deems necessary and appropriate and hereby
acknowledges that it accepts the Equipment for all purposes.
3. No Event of Default, as such term is defined in the Lease, and no event
which with notice or lapse of time, or both, would become an Event of
Default, has occurred and is continuing at the date hereof.
Therefore, as Lessor for the above - referenced Lease /Purchase Agreement,
you are hereby requested to pay from the Escrow Fund to the person or
corporation designated below as Payee, the sum set forth above in payment
of a portion or all of the cost of the acquisition of the equipment
described above. The amount shown is due and payable under the invoice of
the Payee with respect to the cost of the acquisition of the equipment and
has not formed the basis of any prior request for payment. The equipment
described above is part or all of the "Equipment" that is subject to the
Equipment Lease /Purchase Agreement.
Payee: City of Round Rock
221 East Main St.
Round Rock. TX 78664
LESSEE:
By:
Title:
Dated: X q-/5- , 19 9 7
4( Please retain this form. When the Equipment has been delivered and accepted,
sign and return to MLCC. This form authorizes us to release payment
to the Vendor.
4 This financing stotement covers the following types (or items) of property.
See Attached Equipment Description.
1 Debtor(s) (last Nome First) and address(es)
City of Round Rock
221 East Main St.
Round Rock, TX 78664
Signs Ira( Y,r iebtor(s)
(1) Filing Officer ..y
STANDARD FORM
JULIUS BLUMBERG, INC. NYC, 10013
UNIFORM COMMERCIAL CODE — FINANCING STATEMENT — FORM UCC -1
1N51e0C1I0N5
• 1 PLEASE TYPE rho lam Told only done dodo. . to moLn5
] A 7 h <a d P v M Oebror pas and rood . 7 repo .nh r ration peps .1 lb lan t 1 Itww 1
] sho r d ppr�ded l. a aM �I l en rMe lam I r I d of awe* Ib Fe, m o t Itna broawrd on a ne Bh ed :1 r ley w pnl nd a l w s,. .. 1a b d on , d ye p op e lredddie^d
r nerd be ao.mrd !e ih. 0o olio« �nh a Id of ,oJ mp. of he Ixw «me riaan.m loop reh.duln o <ollaad, imlmiur.y.k.. b on any riY. popw 1 ' w!•
a to i roused Pal Indoor rho nombo bf ome fumes, o. d . obe m '
i It b o co, n crops Be se pads 34.0 em a ore !o become e ing tym rehdh da , r1, 0, Be rod estate and nbnom of rad awns. : *•'
w .. t o of rrrurn, oen o fnr n Mod dr P booming e r r.w: .dg...I n i «ranpo In a party ba vne , w :*.a. oI s« nowt omo
0 Al a •0im.alorgB Nine eilca Mould mean lord co, ropy «an «km ledeemrnr Molaatm.. rrtvr.d o
tN'ty mpy and skin T.roieo Upend owl w. Mrd ropy
w a amen ron Batmen. _ _ _ _ . __ -
This FINANCING STATEMENT is presented to a filing officer for flung pursuant to the Uniform Commercial Code: 13. Maturity dote (if any): •
2. Secured Party(les) and address(es)
Municipal Leasing Credit Corp.
P.O. Box 12441
Overland Park, KS 66282 -2441
This statement Is filed without the debtor's signature to perfect a security interest in collateral. (check ❑x if so)
❑ olready subject to security interest in another jurisdiaion when it was brought into this state. -o
❑ which is proceeds of the originol collateral described above in which a security interest was perfected!
For Filing Officer (Date, Tune,
Number, and Filing Office)
5. Assignee(s) of Secured Party and
Addresi(es) , • _
Signet,Leasing,and
Financial Corporation
P.0:- Box 2373
Baltimore, MD,21203
Filed with
Check ❑x if covered:roceeds of Collateral are also covered. ❑ Products of Collateral are also covered. No. of additional Sheets presented, "
Municipal Lea 'Credit' Corp.
Mayor B President
Title Stgnetore(s) of Secured Party(lee)
Title
STANDARD FORM-FORM UCC -1. (For Use jn Most States)
WHEREAS, the City of Round Rock has duly advertised for bids to
lease /purchase various equipment for use by the City, and
WHEREAS, Municipal Leasing Credit Corporation has submitted the
lowest and best bid to lease /purchase said equipment to the City, and
WHEREAS, the City Council wishes to accept the bid of Municipal
Leasing Credit Corporation, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the Mayor is hereby authorized and directed to execute on
behalf of the City a financing program agreement with Municipal
Leasing Credit Corporation to lease /purchase various equipment, a copy
of said agreement being attached hereto and incorporated herein for
all purposes.
RESOLVED this 8th day of September 1994.
ATTEST:
KS /RESOLUTION
RS40900D
LAND, City Secretary
RESOLUTION NO. e- 7y -D9 -Og /co
COMPANY NAME
MUNICIPAL
LEASING CREDIT
FORD MOTOR
CREDIT
G.E. CAPITAL
FINANCE
KOCH FINANCIAL
CORP.
MLC GROUP
INTEREST RATE
5.18%
5.71%
5.88%
5.898%
5.75%
TOTAL COST ON
PRINCIPAL OF
$300,000
$328,274
$330,678
$331,615
$331,716
$334,212*
SEMI - ANNUAL
PAYMENTS FOR 3
YEAR PERIOD
$54,629
$55,113
$55,269
$55,286
$55,702*
CITY OF ROUND ROCK
ANALYSIS OF BIDS - EQUIPMENT LEASING
FISCAL YEAR 1994
*INCLUDES 1% ORIGINATION FEE
SUMMARY OF BIDS -
22 BIDS WERE MAILED.
12 SUBMITTED BIDS
2 DECLINED, BUT ASKED FOR FUTURE CONSIDERATION
1 WAS PURCHASED BY ANOTHER BIDDER.
7 NON - RESPONSIVE
LEASE94
02 —Sep -94
03:11 PM
DATE: September 6, 1994
SUBJECT: City Council Meeting, September 8, 1994
11EM: 10. D. Consider a resolution authorizing the Mayor to enter into a
lease /purchase financing program agreement for City equipment.
STAFF RESOURCE PERSON: David Kautz
STAFF RECOMMENDATION:
The operating budget authorizes a program whereby capital equipment is acquired through a
tax— exempt lease — purchase. In this program, the equipment is purchased by the City and the City
is then reimbursed for the equipment through a lease — purchase agreement. The City repays the
lease — purchase obligation in three years.
Twelve bids were received from qualified leasing companies with the best bid being submitted by
Municipal Leasing Credit at 5.18% APR. A summary of the top bids is provided on the following
pages.
Staff recommends the bid award be made to Municipal Leasing Credit.