HomeMy Public PortalAbout014-2012 - Approving Fire Truck Lease AgreementBOARD OF PUBLIC WORK'S AND SAFETY
CITY OF RICHMOND, INDIANA
RESOLUTION NO. 14 -2012
A RESOLUTION APPROVING FIRE TRUCK LEASE AGREEMENT
WHEREAS, The City of Richmond is a political subdivision of the State of Indiana ( "State ") and is duly
organized and existing pursuant to the constitution and laws of the State; and
WHEREAS, Pursuant to applicable law, the Board of Public Works and Safety, as the executive governing
body of the City of Richmond, is authorized to acquire, dispose of and encumber real and
personal property, including, without limitation, rights and interests in property, leases and
easements necessary to the functions or operations of the City; and
WHEREAS, On June 28, 2012, the Board of Public Works and Safety awarded a bid to KME Kovatch for the
purchase of a KME Ladder Fire Truck (see also Contract No. 88 -2012 approved on July 19,
2012) and additionally awarded a bid for the partial finance of the purchase to Chase Finance
Equipment; and
WHEREAS, The Board of Public Works and Safety finds and determines that the execution of a Iease-
purchase agreement ( "Equipment Lease ") in the principal amount not exceeding Three Hundred
Seven Thousand and Eighty -five Dollars and Zero Cents ($307,085.00) ( "Principle Amount ") for
the purpose of acquiring and partially financing the KME Ladder Fire Truck is appropriate and
necessary to the functions and operations of the City of Richmond and the Richmond Fire
Department; and
WHEREAS, JP Morgan Chase Bank, N.A. ( "Lessor ") is expected to act as the lessor under the Equipment
Lease as previously approved by the Board of Public Works and Safety; and
WHEREAS, It is in the best interest of the City to authorize Sally Hutton, as Mayor, Vicki Robinson, as
President of the Board of Public Works and Safety and/or Tammy Glenn, as Financial Controller
of the City of Richmond (each an "Authorized Representative ") to execute and deliver a certain
Master -Lease Purchase Agreement to JP Morgan Chase Bank (to be designated as Contract No.
94 -2012) and such other documents relating to said Lease Agreement, and to authorize the
performance of said Lease Agreement in order that the City may fulfill its obligations under said
Lease Agreement,
NOW, THEREFORE, BE IT RESOLVED by the Board of Public Works and Safety of the City of Richmond,
Indiana, as follows:
SECTION 1. Either Sally Hutton, as Mayor, Vicki Robinson, as President of the Board of Public Works and
Safety and/or Tammy Glenn, as Financial Controller of the City of Richmond (each an "Authorized
Representative "), acting on behalf of the City of Richmond as Lessee is iiereby authorized to negotiate, enter into,
execute, and deliver the Equipment Lease in substantially the form set forth in the attached Exhibit A (which
document is available for public inspection at the office of the City Controller). Each Authorized Representative
acting on behalf of the City of Richmond as Lessee is hereby authorized to negotiate, enter into, execute, and
deliver such other documents relating to the Equipment Lease (including, but not limited to, escrow agreements)
as the Authorized Representative deems necessary and appropriate (which documents will be designated as
Contract No. 94 -2012 for tracking purposes). All other related contracts and agreements necessary and incidental
to the Equipment Leases are herby authorized and may also be signed as necessary by the Authorized
Representatives.
SECTION 2. By a written instruments boned by any Authorized Representative, said Authorized Representative
may designate specifically identified officers or employees of the City of Richmond as Lessee to execute and
deliver agreements and documents relating to the Equipment Leases on behalf of the City of Richmond as Lessee.
SECTION 3. The aggregate original principal amount of the Equipment Leases shall not exceed the Principal
Amount and shall bear interest as set forth in the Equipment Leases and the Equipment Leases shall contain such
options to purchase by the Lessee as set forth therein.
SECTION 4. The City of Richmond's obligations under the Equipment Leases shall be subject to annual
appropriations by the Legislative Body or renewal by the Governing Body as set forth in each Equipment Lease
and the City of Richmond's obligations under the Equipment Leases shall not constitute a general obligations of
the City of Richmond as Lessee or indebtedness under the Constitution or laws of the State.
SECTION 5. This Resolution does not bind the City of Richmond as Lessee to make any expenditure, incur
any indebtedness, or proceed with the purchase of the Property.
SECTION 6. This Resolution shall take effect immediately upon its adoption and approval.
ADOPTED AND APPROVED Y THE BOARD O PUBLIC WORKS AND SAFETY OF THE CITY OF
RICHMOND on this Y day o 012.
1 4
Vicki Robinson, President
Dian Lawson, Member
APPROVED:
�Gte*�i 1�J
Sally Hutt or, M ayor
The undersigned Deputy Clerk of the Board of Public Works and Safety for the City of Richmond hereby certifies
and attests that the undersigned has access to the official records said Board, that the foregoing resolution was
duly adopted by said Board at a meeting of said Board and that such resolution has not been amended or altered
and is in force and effect on the date stated above.
of the Board of Works