HomeMy Public PortalAbout2000.057 (03-21-00)i
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- ~ LYNWOOD CITY COUNCIL
RESOLUTION N0.2000.57 ~ :f
* RESOLUTION OF THE CITY OF LYNWOOD APPROVING _ ~ .
- - AND AUTHORIZING THE EXECUTION AND DELIVERY. ~
. OF A MASTER LEASE-PURCHASE AGREEMENT IN ~ , ,
• CONNECTION WITH THE LEASING OF APPROXIMATELY `:
$1,600;000 OF ROLLING:STOCK; AND AUTHORIZING ~ {
' CERTAIN OTHER RELATED MATTERS.
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..WHEREAS, the City of Lynwood (the "City") is a municipal corporation ~ `
organized and existing under the laws of the State of Galiforriia;
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WHEREAS,. the City desires to arrange for the leasing of certain rolling stock
_ more particularly described in that certain Master Lease-Purchase Agreement (the "Agreement''.)
• between the City and Banc One Leasing Corporation (the "Lessor");
WHEREAS,.the City'wishes at this time to authorize,and approve all proceedings •
related to the leasing of such rolling stock and the execution and-delivery of all agreements an#d
~. ;documents related thereto; and
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WHEREAS, all acts, conditions,. and things required by the ,laws of the State of
California, to existing, to haye.happened, and to have been performed precedent to and in
• connection with the foregoing do or will exist, have happened or will happen, and have been or
will be.performed`in regular and due time, form and manner as required by law; ~ ~
NOW, THEREFORE, THE COUNCIL OF THE CITY OF LYNWOOD 1
~ DOES-RESOLVE AS FOLLOWS: ~ j .
' SECTION 1. Municipal Affairs and Findings. The Council. hereby specifically
' finds and declares that the actions approved and,authorized hereby constitute and are"with ~ ~ _ •
respect to municipal affairs of the~City and that the statements, findings and'determinations of
the Council. set forth in the preambles above and in the Sections below, are-true and correct.
.SECTION. 2. A roval o A reement. The-form of Agreement presented to this
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meeting and on file with the City Clerk is hereby approved. The Mayor, City Manager or the 9
Director of Finance & Administration (the "Authorized Officers") is each authorized and
.directed; for and in the name acid on behalf of the City,; to.execute and deliver the Agreement in
- subsfantiailysaid°form, with such changes therein as such Authorized Officer may require or
approve;,such- approval to be conclusively, evidenced by the execution and. delivery thereof;
provided; however, that the Tease term for the initial schedule of equipment to be leased under
the Agreement shall not exceed 10 years arid the annual aggregate lease payment shall not '
-exceed $265;000 per-year:
SECTION 3. Attestations. -The City Clerk is hereby authorized` and directed to
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• attest the signature of the Authorized Officers"and to affix and attest the seal of the~City, as may
be required or appropriate in connection with the execution and delivery of;the. Agreement: ~ ~ ,
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- ~ ~'~ ~ SECTION 4.~ .Other Actions.. The Authorized Officers and such other- proper
officers and employees of the City are each hereby authorized and directed,. jointly .and severally,
-- to do any and all things and to execute and deliver any and all documents which they may deem
necessary or advisable in order to carry out, give effect. to and comply with the terms and intent .
. ` of this Resolution -and: the Agreerr~ent. - '
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- SECTION 5. Effect. This Resolution shall take effect immediately. ~ ,
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.PASSED AND ADOPTED this 2lstday of March 2000 by the following vote:
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DOCSLA1,:3394~3.1 .. <.I
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AYES: COUNCILMEN REA,-REYES, RICHARDS, SANCHEZ, BYRD
NOES: NONE
ABSENT: - NONE
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Louis Byrd, Mayor ~_ l
City of Lynwood
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Andrea Hooper
City Clerk
APPROVED AS TO FORM:
AssistantCityAttorney .Glenn Ward Calsada
APPROVED AS TO. CONTENT:
Ral .Davis, III
City Manager
STATE OF CALIFORNIA )
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COUNTY~'OF LOS ANGELES '
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
above and foregoing resolution was duly adopted by the City .Council of said City at a
regular meeting thereof held in the City Hall of the City on the 21st day of March,
2000, and passed by the following vote: -
AYES: COUNCILMEN REA, REYES, RICHARDS, SANCEHZ, BYRD. ,
NOES: NONE
ABSENT: NONE
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City Clerk, City of Lynwood
STATE OF CALIFORNIA )
SS, . .
COUNTY OF LOS~ANGELES )
I, the~undersigned,:City Clerk of the Gity of Lynwood, and Clerk of the City
Council of said City, do hereby certify that the above and foregoing is a full, true
and correct copy of Resolution No.-2000.57 on file in my office and' said resolution
was adopted on the date and by the vote therein .stated.
Dated this 21st .day of March, 2000.
2 City Clerk, City of Lynwood
DOCSLA 1:339453. ]
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