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Home My Public Portal About2005 Police Vehicle Ford Explorer.tifFord Motor Credit Company Ms. Conchita H. Alvarez, Clerk Village of Key Biscayne, Police Dept. 88 West McIntyre St. Key Biscayne, FL 33149 1 American Road P.O. Box 1739 Dearborn, Michigan 48121-1739 January 6, 2005 Subject: Master Equipment Lease -Purchase Agreement Lease No. 7794000 Dear Ms. Alvarez: Thank you for selecting Ford Motor Credit Company as your Lease -Purchase Finance source. We, at Ford Credit, care about our customers and have a special interest in your continuous satisfaction with our services. For your records, we have enclosed a copy of the signed Master Equipment Lease -Purchase Agreement. Your Schedule (account number) is 7794001. Be sure to refer to Schedule 7794001 should you require assistance. Please send a copy of the title(s) for the equipment being financed to complete our records. To assist us with the timely processing of your payments, please: • allow seven mail days time to avoid late charges; • include Schedule 7794001 (account number) on your check, and • make check payable to "Ford Motor Credit Company" to our Lockbox: DEPT 67-434 FORD MOTOR CREDIT - MUNICIPAL P. O. BOX 67000 DETROIT, MI 48267-0434 If I can be of any assistance, please contact me at 1-800-241-4199, Ext. 173. Sincerely, Linda Adamus Municipal Finance Enclosures Wed Sep 29 '_0 : 19 : 22' 20;4 Crev.:_sron,A acrevt 3 Page: 4 fiord Motor Credit Company Municiaal Finance application 7794000 0 Legal Name of Municipality ('Lessee") VILLAGE OF KEY BISCAYNE Department Using Equipment ("equipment-) POLICE DEPARTMENT _ Years m Operation 12 years _ Federal ID Number 65-0291811 County Miami -Dade Street Address _ 88 West McIntyre Street City. State and Zip Key Biscayne, FL 33149 Billing Address (if different from above) City. State and Zip Accounts Payable Contact Person. Randolph White Accounts Payable Phone Number (305) 365-8903 -Does How will equipment be used" Police vehicles 1 thus equipment replace previous equipment9 - pYes, replaces equipment porch ed in (v;.ar(s)) $No, explain i ; r j- (• rr ,.Cp, How many units currently perform this function? 1,' __ i If more pace is neede . continue on additional sheet Breakdown of Vehicles m Fleet Number of vehicles in Fleet Range of Model Year(s) Public Liability Insurance coverage limits in the amount of Slmilhon or the State maximum (if lower) is required. Self Insured No ZYes, the Approp ated Loss Reserve Amount: S Name of Insurance Provider Florida League of Cities Phone Number, including Area Code: If more space is needed connmie on additional sheet General Liability Coverage Limits: S %b t! ,1..L7x;1"< Source of funds for proposed payments. General Fund 4 tj }k'L tirtp , Fund Fiscal Year End: con, Date of most recent Audited Fin cial S tement: O jY .3.&/D Fund Balance 4'5 S ii Funds have been appropnate orte current year 'Yes �No Major source of revenue. '�)j As o 3v/03 Bank Reference See attached 1 T Bank Contact Name and Phone Number, including Area Code. - S- )4Qt? CERTIFICATION I am the duly appointed. qualified and acting Clerk (Clerk or Secretary) of the Lessee and I certify foil . (1) Lessee did, at a meeting of the governing body of the Lessee held on . by motion dul adc, seco a ied. in accordance with all requirements of law. approve and authorize the execution and delivery of the pr osed e of the i on its y 'lowinng rrepres ntative of the Lessee Print Name and Title of Authorized Official Conchita H. Alvarez ('L � a 061 This signature line is to be signed by a person authorized by 71ie governing body to execute the Lease on behalf of the Lessee. (2) The meeting of the governing body of the Lessee at which the Lease was approved a razed to be executed was duly c led, regularly convened and attended throughout by the requisite majonty of the members thereof or by other approp a off al approval and e action ap vin a and authorizing the execution thereof has not been altered or rescinded. The above -named representative the L ee held at time such au r ds at the present Ume the office set forth above (3) The above information is true and correct, to the best of my knowledge fa • r �y y �Conchita ature of Clerk or Secretary) "71-- H. 'lvarez .� (Print Name) / L (SEAL) i Dated / / , C. •„'` p Subscribed and swo before me / 0 day of(.�J�t..Cj t ,20Y3V ilia . /10 R1‘11 Notary Public k:',•"i''••; CAROLYN P. GREAVES i ;l 4 /r .-lri executed Opinion o C �P f % MY CpCMMISS$ON K DO 252377 'e- __ _Fmp , October 14.2007 ► $e tot in more titan 5100, 000 (or t re ested) Sf requested) ' - ttomey Phone and Fax Numbers, including Area Code. Pnn N of Attornv- Ar . 01 ( -LL,C._ Sc,:q , c)( L'O Revised Sept. 2001 PLEASE NOTE An ORGINAL SEALED/NOTARIZED Municipal Finance Appticadae is required when a transaction is 5100.000 or Less AND there is Counsel provided Please fax an advance copy to (313) 390-3783 Mall original to Ford Motor Credit Co.. PO Box 1739 -MD 7500. Dearborn. MI -I81:1 - Municipal Finance. .4 COPY (the Municipal; Flnmiee Application (MFA) is acceptable when an ORIGINAL executed Opinion (Counsel is provi/e4 In ills instance. the need to be notarized and sealed Please fax a copy to (31 3) 390-3783. no Opinion of I'39 ,4TTV MFA does +not SCHEDULE 7794001 - MASTER EQUIPMENT LEASE -PURCHASE AGREEMENT Lease No. 7794000 AMENDMENT That certain Master Equipment Lease -Purchase Agreement, by and between Ford Motor Credit Company ("Lessor") and Village of Key Biscayne ("Lessee"), dated as of 12/15/2004 (the "Lease") is hereby amended as follows: Lessee has not issued, and reasonably anticipates that it and its subordinate entities will not issue, tax-exempt obligations (including this Lease) in the amount of more than $10,000,000 during the current calendar year; hereby designates this Lease as a "qualified tax-exempt obligation" within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended, ("Code"); and agrees that it and its subordinate entities will not designate more than $10,000,000 of their obligations as "qualified tax-exempt obligations" during the current calendar year. Except as amended hereby, the Lease shall otherwise remain unchanged and in full force and effect. IN WITNESS WHEREOF, the parties have executed this Amendment as of the 10th day of January, 2005. LESSEE: Village of Key Biscayne Polic,Dept. By: onchita H. Alvarez Title: Clerk LESSOR: Ford Motor Credit Company By: Title: Operations Manager, Municipal Finance Page 1 SCHEDULE 7794001 - MASTER EQUIPMENT LEASE -PURCHASE AGREEMENT Lease No. 7794000 This Equipment Schedule dated as of 01/10/2005, is being executed by Ford Motor Credit Company ("Lessor"), and Village of Key Biscayne ("Lessee"), as a supplement to, and is hereby made a part of that certain Master Equipment Lease -Purchase Agreement dated as of 12/15/2004 ("Lease"), between Lessor and Lessee. Lessor hereby leases to Lessee under and pursuant to the Lease, and Lessee hereby accepts and leases from Lessor under and pursuant to the Lease, subject to and upon the terms and conditions set forth in the Lease and upon the terms set forth below, and following items of Equipment: QUANTITY DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.) SUPPLIER 1 2005 Ford Explorer XLT, 1 FMZU63K15UA95305 Duval Ford EQUIPMENT LOCATION: Village of Key Biscayne Police Dept. 88 West McIntyre St. Key Biscayne, FL 33149 Initial Term: 60 Months Commencement Date: 01/10/2005 Periodic Rent: 4 Consecutive Annual in Advance Payments of $5,147.37 each (including interest), followed by one final payment of $5,147.31, due under this Lease. The Periodic Rent Payment also includes any applicable sales/use tax due and payable on the Lease Payment Dates, set forth in Schedule 7794001, Page 2. EXECUTED as of the date first herein set forth. LESSEE: Village of Key Biscayne By: Title: Pol' - - Dept. Clerk 4 hita H. Alvarez h6,e LESSOR: Ford Motor Credit Company By: Fra Mastrella Title: Operations Manager, Municipal Finance Counterpart No. 1 of 1 manually executed and serially numbered counterparts. To the extent this Schedule constitutes chattel paper, no security interest herein may be perfected through the possession of any counterpart other than Counterpart No. 1. Schedule 7794001 Payment Schedule Lease Number: Page 2 7794000 APR: Lease Payment Number 4.20% 1 2 3 4 5 TOTALS Lease Payment Date 1 / 10 / 2005 1 / 10 / 2006 1 / 10 / 2007 1 / 10 / 2008 1 / 10 / 2009 Lease Interest Payment Portion 5,147.37 0.00 5,147.37 781.06 5,147.37 597.67 5,147.37 406.59 5,147.31 207.47 25,736.79 1,992.79 Principal Portion 5,147.37 4,366.31 4,549.70 4,740.78 4,939.84 23,744.00 Concluding Payment 18,596.63 14,230.32 9,680.62 4,939.84 1.00 Feb 07 05 OS: ?_.7a KEY BISCAYNE POD 305355509 FFB 04 2F05 16:29 FR FORD MIJN:C:PA_ 313 390 3793 TO 93053655509 D. a2, a2 LESSOR FORD MOTOR CRLDIT COMPANY P. 0. Box 1739 Deart of n, P.1I 48121-1739 DELIVERY AND ACCEPTANCE CERTIFICATE The undersigned Lessee hereby acknowledges receipt of the Equipment described berow ('Equipment") as rutty installed and in good working condition; and Lessee hereby accepts the Equipment after full inspection thereof 3s satisfactory for all purposes of the Master Equipment Lease -Purchase Agreement ("Lease") executed by lessee and Lessor. MASTER LEASE UAr E 17./15/7004 MASTER LEASE NUMBER SCHEDULE 7794001 DATE 7794000 01/10/2005 DELIVERY NUMBER PURCHASE DATE PURCHASE ORDER NO. LQUANTITY EQUIPMENT INFORMATION DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO 1 1 2005 Ford Explorer XLT, 1 FMZU63K15UA45305 St IP! 'Fr Di Iva! FArd 1 LESSEE. Village of Key Biscayne Police Dept. 38 West McIntyre St. Key Biscayne, FL 33149 BY: (T!tte) DATE ACCEPTED. 1 • 4. 1 A This form is to be signed, dated and returned to Ford Motor Credit Company, Attn: Carol Tom, upon delivery and acceptance of the above equipment. 7/_7 TOT7L. PAGE . 92 4..v FEB 07 2035 08:19 3053655509 Form 8038 -GC (Rev 11-2000) Department of the Treasury Internal Revenue Service Part I Information Return for Small Tax -Exempt Governmental Bond Issues, Leases, and Installment Sales ► Under Internal Revenue Code section 149(e) Caution: Use Form 8038-G if the issue price of the issue is $100,000 or more. OMB No 1545-0720 Reporting Authority Check box if Amended Return ► 1 Issuer's name Village of Key Biscayne - 2 Issuer's employer identification number 65-0291811 3 Number and street (or P O. box if mail is not delivered to street address) Police Dept., 88 West McIntyre St. Room/Suite 4 City, town, or post office, state, and ZIP code Key Biscayne, FL 33149 5 Report number GC 2005-7794001 6 Name and title of officer or legal representative whom the IRS may call for more information David Wolnin 7 Telephone number of officer or legal representative 305-854-0800 Part II Description of Obligations (Check if reporting: a single issue ❑ or on a consolidated basis ❑ ) 8a Issue price of obligation(s) (see instructions) . . . . b Issue date (single issue) or calendar year (consolidated) (see instructions) 9 Amount of the reported obligation(s) on line 8a: a Used to refund prior issue(s) . . . . b Representing a loan from the proceeds of another tax-exempt obligation (e.g., bond bank) 8a $18,596.63 9a 9b 10 If the issuer has designated any issue under section 265(b)(3)(B)(I)(III)(small issuer exception), check this box 11 If any obligation is in the form of a lease or installment sale, check this box . . 12 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check this box . PLEASE SIGN HERE Under pe and b of perjury, I declare that I are true, corre and co Issuer's authorized representative e examined this return and accompanying schedules and statements, and to the best of my knowledge Conchita H. Alvarez, Clerk Type or pnnt name and title General Instructions Section references are to the Internal Revenue Code Unless otherwise noted. Purpose of Form Form 8038 -GC is used by issuers of tax- exempt governmental obligations to provide the IRS with the information required by section 149(e) and to monitor the requirements of sections 141 through 150. Who Must File Issuers of tax-exempt governmental obligations with issue prices of less than $100,000 must file Form 8038 -GC. Issuers of a tax-exempt governmental obligation with an issue price of $100,000 or more must file Form 8038-G, Information Return for Tax -Exempt Governmental Obligations. Filing a separate return. Issuers have the option to file a separate Form 8038 -GC for any tax-exempt governmental obligation with an issue price of less $100,000. An issuer of a tax-exempt bond used to finance construction expenditures must file a separate Form 8038 -GC for each issue to give notice to the IRS that an election was made to pay a penalty in lieu of arbitrage rebate (see line 12 instructions). Filing a consolidated return. For all tax- exempt governmental obligations with issue prices of less than $100,000 that are not reported on a separate Form 8038 -GC, an issuer must file a consolidated information return including all such issues issued within the calendar year. Thus, an issuer may file a separate Form 8038 -GC for each of a number of small issues and report the remainder of small issues issued during the calendar year on one consolidated Form 8038 -GC. However, a separate Form 8038 -GC must be filed to give the IRS notice of the election to pay a penalty in lieu of arbitrage rebate. When to File To file a separate return, file Form 8038 -GC on or before the 15th day of the second calendar month after the close of the calendar quarter in which the issue is issued. To file a consolidated return, file Form 8038 -GC on or before February 15th of the calendar year following the year in which the issue is issued. Late filing. An issuer may be granted an extension of time to file Form 8038 -GC under Section 3 of Rev. Proc. 88-10, 1988-1 C.B. 635, if it is determined that the failure to file on time is not due to willful neglect. Type or print at the top of the form, "This Statement is Submitted in Accordance with Rev. Proc. 88- 10." Attach to the Form 8038 -GC a letter briefly stating why Form 8038 -GC was not submitted to the IRS on time. Also indicate whether the obligation in question is under examination by the IRS. Do not submit copies of any bond documents, leases, or installment sale documents. Where to File File Form 8038 -GC, and any attachments, with the Internal Revenue Service Center, Ogden, UT 84201. Other Forms That May Be Required For rebating arbitrage (or paying a penalty in lieu of arbitrage rebate) to the Federal government, use Form 8038-T, Arbitrage Rebate and Penalty in Lieu of Arbitrage Rebate. For private activity bonds, use Form 8038, Information Return for Tax -Exempt Private Activity Bond Issues. Rounding to Whole Dollars You may show the money items on this return as whole -dollar amounts. To do so, drop any amount less than 50 cents and increase any amount from 50 cents through 99 cents to the next higher dollar. Definitions Obligations. This refers to a single tax-exempt governmental obligation if Form 8038 -GC is used for separate reporting or to multiple tax-exempt governmental obligations if the form is used for consolidated reporting. Tax-exempt obligation. This is a bond, installment purchase agreement, or financial lease, on which the interest is excluded from income under section 103. Tax-exempt governmental obligation. A tax-exempt obligation that is not a private activity bond (see below) is a tax-exempt governmental obligation. This includes a bond issued by a qualified volunteer fire department under section 150(e). Private activity bond. This includes an obligation issued as part of an issue of which: • More than 10% of the proceeds are to be used for any private business use, and Cat. No 64108B Form 8038 -GC (Rev 11-2000) INSURANCE FACT SHEET We require a Certificate of Insurance or Declaration Page shown in the name of the Municipality listed below. If more than one insurance company is used, indicate each and for what type coverage. Per the Master Equipment Lease -Purchase Agreement, Lease No. 7794000, we require Liability and Physical Damage on all vehicles, Liability and Property Damage on all other Equipment and FORD MOTOR CREDIT COMPANY named as Loss Payee and Additional Insured. RETURN TO: Ford Motor Credit Company, Municipal Finance, PO Box 1739 - MD 7500, Dearborn, MI 48121-1739. SCHEDULE NO: 7794001 MUNI: Village of Key Biscayne ADDRESS: Police Dept. 88 West McIntyre St. CITY: Key Biscayne, FL 33149 CONTACT: PLEASE NOTE: FORD MOTOR CREDIT COMPANY REQUIRES A MINIMUM OF $1,000,000 PUBLIC LIABILITY COVERAGE; OR THE STATE MAXIMUM (IF LOWER) IS REQUIRED Randolph White, 365-8903, Accts. Payable 1')) �r EQUIP DESC: (1) 2005 Ford Explorer XLT, 1 FMZU63K15UA95305 PHONE: (305) 365-5555 _I INSURANCE COMPANY: ADDRESS: CITY: STATE: ZIP: PHONE: CONTACT PERSON: POLICY NO: EXPIRATION DATE: LIABILITY AMT: PROPERTY DAMAGE AMT: PHYSICAL DAMAGE AMT: COMPREHENSIVE DEDUCTIBLE: COLLISION DEDUCTIBLE: INSURANCE COMPANY: ADDRESS: CITY: STATE: ZIP: PHONE: CONTACT PERSON: POLICY NO: EXPIRATION DATE: LIABILITY AMT: PROPERTY DAMAGE AMT: PHYSICAL DAMAGE AMT: COMPREHENSIVE DEDUCTIBLE: COLLISION DEDUCTIBLE: THIS SECTION ONLY TO BE COMPLETE IF SELF -INSURED: IF YOU ARE SELF -INSURED FOR ANY COVERAGE, PLEASE PROVIDE THE NAME OF YOUR INSURANCE POOL/FUND. NAME OF INSURANCE POOL/FUND: Self -Insured For/ LIABILITY: $ PROPERTY: $ PHYSICAL: $ CONTINUOUS COVERAGE: FROM: 10: PLEASE SIGN. "a/AY Conchita H. Alvarez, Clerk