HomeMy WebLinkAboutReso 155-12 Lease Purchase Equip RESOLUTION NO. 155- 12
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AUTHORIZING THE EXECUTION AND DELIVERY OF AN EQUIPMENT LEASE/PURCHASE
AGREEMENT WITH RESPECT TO THE ACQUISITION, PURCHASE, FINANCING AND LEASING
OF CERTAIN EQUIPMENT FOR THE PUBLIC BENEFIT; AUTHORIZING THE EXECUTION AND
DELIVERY OF DOCUMENTS REQUIRED IN CONNECTION THEREWITH; AND AUTHORIZING
THE TAKING OF ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE
TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION
WHEREAS, the City of Dublin (the "Lessee"), desires to purchase, acquire and lease certain
equipment constituting personal property necessary for the Lessee to perform essential governmental
functions (the "Equipment"); and
WHEREAS, the City Council has approved an Energy Services Contract with Chevron Energy
Solutions to procure and install the Equipment, the scope of work of which has been approved and
authorized by the City Council; and
WHEREAS, in order to acquire such equipment, the City Council has authorized the City
Manager to enter into an Equipment Lease/Purchase Agreement (the "Agreement') and select
financing institution to act as Lessor (the "Lessor') to fund the acquisition of the Equipment; and
WHEREAS, the City Council has reviewed and approved lease terms and conditions to fund
the acquisition of the Equipment; and
WHEREAS, the City desires to maintain flexibility in choosing its financing partner, Lessor, to
acquire the Equipment.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin hereby
authorizes the City Manager to execute an Agreement and all other related documentation for that
financial institution, which presents the most favorable terms and conditions, as determined by the
City Manager, then extant at contract selection; and
BE IT FURTHER RESOLVED that the City Council hereby approves the form, terms and
provisions of the Agreement as long as they are in substantially the same form of equipment lease
purchase agreement as previously presented to the City Council, with such insertions, omissions and
changes as shall be approved by the City Manager and/or the City Attorney.
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PASSED, APPROVED AND ADOPTED this 4th day of September, 2012, by the
following vote:
AYES: Councilmembers Biddle, Hart, Hildenbrand, Swalwell, and Mayor Sbranti
NOES: None
ABSENT: None
ABSTAIN: None
j\lka_ Przet,i-
Mayor
ATTEST:
CAVVP
City Clerk
Reso No. 155-12,Adopted 9-4-12, Item 4.8 Page 2 of 2