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CITYOF' SAff BERN~DINO -
REQUEST FO' COUNCIL ACTION
.
F - BARBARA PACHON, DIRECTOR OF FINANCE
rom:
Subject: MASTER CONTRACT FOR
ACCESS PUBLIC FUNDING, INC.
Dept: FINANCE/PURCHASING
Date: JULY 21, 1994
Synopsis of Previous Council action:
NONE
Recommended motion:
ADOPT RESOLUTION
~~d~
Contact person:
BARBARA PACHON, DIRECTOR OF FINANCE Phone:
x - 5242
Supponing data attached:
Ward:
FUNDING REQUIREMENTS:
Amount:
Source: (Acct. No.)
(Acct. DescriDtionl
Finance:
Council Notes:
15.0262
Agenda Item No
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CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
STAFF REPORT
The proposed action is to add a Lease Purchase Master Contract with
the city of San Bernardino. This will add to our library of
financing partners which currently includes Associated Commercial
Corporation, G.E. Capital, MLC Group, Pacific Atlantic, MMC
Government Finance, city Corp North America, Ford Motor Credit Co.,
Security Pacific Leasing and Pacificorp. This will reduce the
processing time in Lease Purchasing Transactions.
It is requested that Council approve Access Public Funding for
Lease Purchase Master Contract.
Access Public Funding, Inc.
501 Second Street #330
San Francisco, CA 94107
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RESOLUTION NO.
RESOLUTION OF THE CITY OF SAN BERNARDINO A EPTING LEASE-
PURCHASE MASTER AGREEMENT FOR ACCESS PUBLIC FUNDI G, INC. FOR THE
FURNISHING OF LEASE PURCHASE FINANCING.
BE IT RESOLVED BY THE MAYOR AND COMMON CO
SAN BERNARDINO AS FOLLOWS:
SECTION 1. That Equipment Lease-Pure se Master Agreement
with Access Public Funding, a copy
of which is attached hereto as Exhibit
"A", is approved by the City of San Ber rdino for the furnishing
of Lease-Purchase Financing; pursuant 0 this determination, said
Master Lease-Purchase Agreememt awar shall only be effective upon
the execution of an Agreement by t e Mayor of the City of San
Bernardino.
obligated under the
SECTION 2. The city shal
Agreement unless and until the greement is fully executed and no
oral agreement relating there 0 shall be implied or authorized.
The authorization to execute the above referenced Agreement is
of the passage of
be initiated under the
rescinded if the parties fai to execute it within sixty (60) days
SECTION 3.
Master Lease contained i
Agreement without the approval of
the Mayor and Common Co
SECTION 4. The
not be obligated until
a lease-purchase le transaction for material, equipment,
supplies or contracte services is executed with the vendor under
this Agreement.
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07-21-94
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MASTER LEASE WInI OPTION TO PURCHASE AGREEMENT
NUMBER M
THIS MASTER LEASE WITH OPTION TO PURCHASE AGREEMENT ("Lease"), dated
as of this.. day of", 1994, is made and entered into by and between Access Public Funding,
Inc., a corporation duly organized and existing under the laws of the state of Califomia,
("Lessor") whose principal business address is 501 Second Street, Suite 330, San Francisco, CA
94107; and the City of San Bernardino, ("Lessee") a political subdivision of the state of
California, whose address is 300 North "0" Street, San Bernardino, CA 92418.
In consideration of the mutual covenanu herein contained, the parties hereto agree as follows:
ARTICLE I: DEFINITIONS AND EXHIBITS
SECTION 1.1. Definitions. Unless the conteXt otherwise requires, the terms defined in the
Section shall, for all purposes of this Lease have the meanings herein specified.
:) Contractor: Each of the manufacturers or vendors from whom Lessee (or Lessor at Lessee's
(/ request) has ordered or will order or with whom Lessee (or Lessor at Lessee's request) has
contracted or will contract for the manufacture, delivery and! or installation of the Equipment.
"'\ EqJIipm....t or Equipment Group: An item or items of personal property rI...igT'ated from
~ Jtime to time by Lessee which are described in an Equipment Schedule, and which are being or
will be leased with option to purchase by Lessee pursuant to this Lease. An Equipment Group
consisu of the Equipment listed on any single page or set of pages of Exhibit A.
I EqJIipm....t Schedule: A schedule consisting of the separate but like numbered pages of
~ I Exhibiu A, B and C which have been completed with respect to an Equipment Group and
executed by Lessor and Lessee as indicated herein.
,i) Fiscal Year: The 12-month fiscal period of Lessee which commences on .. in every year and
"J I ends on the following".
Final Termination Date: With respect to that Equipment Group described in the Equipment
, Schedule, the date specified in the Equipment Schedule relating thereto, which date
corresponds to the end of the useful life of such Equipment Group.
~~~ ~.nl1n...1: An attorney.duly admitted to the practice of law before the highest
e State who~ full-tune ~oyee of Lessor or Lessee.
=" Interest: The portion of any ~yment designated as and comprising interest as shown
"1} in any Equipment Schedule.
tt)
leaK: With respect to each Equipment Group, this Master Lease With Option To Purchase
Agreement and the Equipment Schedule in which such Equipment Group is described, which
shall constitute a separate contract relating to such Equipment Group, and which shall be
separately assignable and enforceable.
4)
Net Proceeds: Any insurance proceeds or COl'lrl..mnarion award, paid with respect to any
Equipment, remaining after payment therefrom of all expenses incurred in the collection
thereof.
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r~ P'lJ'"'"nt Oat": Th" date upon which any Rental Payment is due and payable as provided in
t IJ) any Equipment Schedule.
:\ P"nnitt"d F.n"'lmbranr-es: As of any particular time: (i) liens for taxes and assessments not
,t } th~ delinquent, (u) this Lease and amendments hereto, and (ill) Lessor's interest in the
Eqwpment.
;) Prinripal: The portion of any Rental Payment designated as principal in any Equipment
(J; I Schedule.
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Purrh...... Qption Priel!: With respect to any Equipment Group, as of the Payment Dates
specified the Equipment Schedule relating thereto, the amount so designated and set forth
opposite each such date in such Equipment Schedule.
Ii)
R"nral P'IJ'"'"nt: With respect to any Equipment Group, the payment due from Lessee to
Lessor on each Payment Date during the Term of this Lease, as shown in the Equipment
Schedule relating thereto.
. ;1 Sp""ificationo: The bid specifications and! or purchase order pursuant to which Lessee has
,.,; ordered any Equipment from a Contractor.
o SWc: The State of ".{'v (I/~~</
{\I State and F..deral Law or I.aWll: The Constitution and any law of the State and any charter,
/1) ordinance, rule or regulation of any agency or political subdivision of the State; and any law of
'( the United States, and any rule or regulation of any federal agency.
:\ T..nn of rhi. L,....... or 1.-... T"nn: With respect to any Equipment Group, the period during
If) which this Lease is in effect as specified in Section 4.1.
Section 1.2. F"hibits.
F.yhibir A: A schedule executed by Lessor and Lessee describing an Equipment Group being
leased by Lessee pursuant to this Lease. Lessee hereby consents to and authorizes Lessor to
insen the serial or other identifying numbers relating to the Equipment.
Fyhibir B: A payment schedule executed by Lessor and Lessee setting forth the date and
amount of each Rental Payment coming due during the Lease Term with respect to the
Equipment Group, the amount of such Rental Payments comprising Principal and Interest,
and the priel! at which Lessee may exercise its option to purchase Lessor's interest in such
Equipment Group in accordance with Article X.
F.yhibit C: A form of Certificate of Acceptance of Lessee indicating that the Equipment
Group described therein has been delivered and installed in accordance with the Specifications,
and has been accepted by Lessee and that cenain other requirements have been met by Lessee.
Fyhibit D: A form of opinion 062 counsel to Lessee as to the organization, nature
and powers of T _; the validity, on and delivery of this Lease and various related
documents; the absence of litigation; and related matters.
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Fyhibit E: A form of resolution of the governing body of Lessee relating to the Lease and, if
applicable, certain federal tax matters.
ARTICLE n: REPRESENTATIONS, W ARRANllES, AND COVENANTS
Section 2.1. Rq)n!I~t2tinns. '\V2tT2tlnf!lC ::md CnVet1Ants of' ".#AIA. Lessee represents and
warrants to and covenants with Lessor with respect to this Lease and each Equipment
Schedule, as follows:
(a) Lessee is a political subdivision of the State, duly organized and existing under the
Constitution and laws of the State, and is authorized under the Constitution and laws of the
State to enter into this Lease and the transactions contemplated hereby, and to perform all of
its obligations hereunder.
(b) The execution and delivery of this Lease by the officer of Lessee executing it has
been duly authorized by a duly adopted resolution of Lessee's governing body, or by other
appropriate official action, and such action has complied and! or will comply with all public
bidding and other State and Federal Laws applicable to this Lease and the acquisition and
financing of the Equipment by Lessee.
(c) Lessee will use the Equipment during the Lease Term only to perform essential
governmental functions.
(d) Lessee will take no action that would cause the Interest ponion of the Rental
Payments to become includable in gross income of the recipient for federal income tax
purposes under the Internal Revenue Code of 1986, as amended (the .Code.) and Treasury
Regulations promulgated thereunder (the .Regulations.), and Lessee will take and will cause its
officers, employees and agents to take all affirmative actions legally within its power necessary
to ensure that the Interest ponion of the Rental Payments does not become includable in gross
income of the recipient for federal income tax purposes under the Code and Regulations; all
as amended from time to time (including, without limitation, the calculation and payment of
any rebate required to preserve such exclusion).
(e) Lessee will submit to the Secretary of the Treasury information reporting
statements and other information relating to this Lease and each Equipment Schedule at the
times and in the forms required by the Code and the Regulations; and if applicable, Lessee
will cause a resolution substantially in the form -.,.hed hereto as Exhibit E to be adopted by
its governing body with respect to this Lease and each Equipment Schedule.
(f) Upon delivery and installation of any Equipment Group, Lessee will provide to
Lessor a completed and executed copy of a Certificate of Acceptance relating thereto in the
form attached hereto as Exhibit C, and upon execution of this Lease and! or each Acceptance
Certificate Lessee will provide to Lessor an opinion of its legal counsel in the form attached
hereto as Exhibit D.
(g) Lessee finds and determines that the amount of the Rental Payments set forth in
the Equipment Schedule are equal to the fair rental value of the related Equipment Group
during the respective Fiscal Year of Lessee in which such Rental Payments are made.
(h) The Equipment will have a useIu1life that is substantially in excess of the Lease
Term.
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ARTICLE ill: LEASE OF EQUIPMENT
Section 3.1. AcqJ.;..;tlnn of F.qu;pm~t. Lessee shall advise Lessor of its desire to lease
Equipment and of the desired lease termS for the Equipment Group. Upon agreement by
Lessor and Lessee as to the lease of the Equipment and such terms, Lessor shall furnish to
Lessee a proposed Exhibit A relating to the Equipment Group completed insofar as possible.
Lessee (or Lessor at Lessee' s request) shall order the Equipment Group from the appropriate
ContraCtor or ContraCtors and notify Lessor in writing of the Equipment cost and the
estimated delivery period. Nothing herein shall obligate Lessor to lease any Equipment to
Lessee until Lessor shall have so concurred in writing.
Section 3.2. F.qll;lP"~t DeI;vf!l:Y' Tln,,"m'""t2tion. Lessor and Lessee shall complete and
execute an Exhibit A and Exhibit B with respect to each Equipment Group. Upon delivery of
any Equipment Group, Lessee shall inspect such Equipment, and if such Equipment meetS
Lessee's specifications, Lessee shall provide to Lessor a completed and executed copy of a
Certificate of Acceptance relating thereto in the form attaeIhed hereto as Exhibit C.
Simultaneously with the delivery, Lessor and Lessee shall take all actions necessary to vest legal
title to the Equipment Group in Lessee, and to perfect a security interest therein in favor of
Lessor or a person, firm or corporation d~igT''lt~ by it.
Section 3.3. T __ F.1\j'W"~t! I..~nn. Lessor hereby leases each Equipment Group
made subject to this Lease to Lessee, and Lessee hereby leases such Equipment Group from
Lessor, upon the terms and conditions set forth in this Lease. Lessor hereby covenants to
provide Lessee during the Term of this Lease with the quiet use and enjoyment of the
Equipment, and Lessee shall during the Term of this Lease peaceably and quietly have and
hold and enjoy the Equipment, without suit, trouble or hindrance from Lessor, except as
expressly set forth in this Lease. Lessor will, at the request of Lessee and at Lessee' s cost, join
in any legal action in which Lessee assertS its right to such possession and enjoyment to the
extent Lessor lawfully may do so. Lessee agrees that Lessor shall have the right at all
reasonable times to _a...;ne and inspect the Equipment. Lessee further agrees that Lessor shall
have such rights of access to Equipment as may be reasonably necessary to cause the proper
mamtnlance of the Equipment in the event of failure of Lessee to perform its obligations
hereunder.
Section 3.4. A 1~-....nve n-..-Iure Es",""w Av-m~t. Notwithstanding the provisions
of Sections 3.1 and 3.2, if, upon agreement by Lessor and Lessee as to any Equipment Group
to be acquired and leased by Lessee under this Lease, Lessor and Lessee enter into an escrow
agreement establishing a fund from which the Equipment Group cost is to be paid; and an
amount equal to such cost is deposited therein by Lessor: (a) Lessor and Lessee shall
immediately complete and execute an Exhibit A relating to the Equipment Group; and (b) The
Rental Payments relating to the Equipment Group shall be due and payable commencing upon
the date of said deposit of funds as provided in Exhibit B.
ARTICLE IV: TERM OF LEASE
Section 4.1. T __ Tenn. This Lease shall be in effect for a Lease Term commencing upon its
date of execution and ending as provided in Section 4.2. This Lease shall be in effect with
respect to each Equipment Group for a Lease Term commencing upon the date of execution
of Exhibit C of the Equipment Schedule relating thereto and ending as provided in Section 4.2
unless such Lease Term is extended as provided in this Section. H on the date of termination
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of this Lease with respect to any Equipment Schedule the Rental Payments shall not be fully
paid, or provisions therefor made, or if such Rental Payments shall have been abated at any
time and for any reason, then such Lease Term shall be ext"n..!....! until the date upon which all
sur..h Rental Payments shall be fully paid, except that such Lease Term shall in no event extend
beyond the Final Termination Date.
Section 4.2. T....."in..tion of T -... Tenn. The Lease Term with respect to any Equipment
Group will terminate upon the occurrence of the first of the following events: (a) the exercise
by Lessee of its option to purchase Lessor's interest in such Equipment Group pursuant to
Article X; (b) a default by Lessee with respect to such Equipment Group and Lessor's election
to termin..... this Lease with respect to such Equipment Group pursuant to Article IX; or (c)
the payment by Lessee of all Rental Payments and all other amounts authorized or required to
be paid by Lessee hereunder with respect to such Equipment Group.
ARTICLE V: RENTALPAYMENTS
Section 5.1. Rental PlIyments. Subject to Section 5.2, Lessee agrees to pay Rental Payments
with respect to each Equipment Group during the Lease Term, as rental for the use and
possession of such Equipment Group, in the amounts and on the dates specified in the
Equipment Schedule relating thereto, provided that Rental Payments relating to such
Equipment Group shall be due and payable commencing upon execution of the related
Certificate of Acceptance. Lessee authorizes Lessor to insert the due dates of the Rental
Payments when determined on Exhibit B. A portion of each Rental Payment is paid as and
represents the payment of Interest as set forth in Exhibit B of each Equipment Schedule. All
Rental Payments shall be paid to Lessor; or to such omer assignee(s) to which Lessor has
assigned such Rental Payments as specified in Article XI, at such pillce as Lessor or such
assignee(s) may from time to time designate by written notice to Lessee. Lessee shall pay the
Rental Payments exclusively from moneys legally available therefor, in lawful money of the
United States of America.
Section 5.2. Abat.....,."t. During any period in which, by reason of materia1 damage or
destruction or taking under the power of ..min..,.t domain for sale to any entity threatening
the use of such power or material title defect with respect to any Equipment Group, there is
substantial interference with the use and possession by Lessee of any part of such Equipment
Group, the Rental Payments due hereunder with respect to such Equipment Group shall be
abated proportionately in whole or in part. The amount of abatement shall be such that the
~~ining rental obligation for a given rental period represents fair consideration for the use
and possession of the portions of such Equipment Group that are not affected by such
interference. Such abatement shall comm= on the date that Lessee's use and possession of
all or a portion of such Equipment Group is restricted becauk" of such interference, and end
on the earlier of the date on which the use and possession theRof are restOred to Lessee, or the
date on which Lessee uses the Net Proceeds of insurance or a coD<ll'mn~non awards to pay the
Rental Payments or the applicable Purchase Option Price. In the event of any such
interference, this Lease shall continue in full force and effect. Lessee waives the benefits of
Civil Code Sections 1932 (I), 1932 (2) and 1933 (4) and any and all other rights to terminate
this Lease by virtue of any interference with the use and possession of the Equipment.
f available t
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Lessee's budget
ts to become due~'
reaso~le and la
ent to pay
Lessee
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suc~Rental Payments coming du therein. The covenants on the P~f Lessee contained in -
this Lease, including the covenant budget and appr~ate amounts ecessary to mak~
Re tal Payments, shall be deemed t be duties imposed by law, and it \!tall be the ~ of each
an. every public Qfficial of Lessee to take such 'on and do such thin~uired by law
in ~he perfo~ce of the official du f su fficials to enable Lessee to carry out and
p~orm the c;ovenants and agreements in this Lease agreed to be carried out and performed by
L~~Lease is a firm lease and not a non-appropriation lease.
Section 5.4. I~g;tIly Available Funds. The obligations of Lessee under this Lease, including
its obligation to pay the Rental Payments due with respect to any Equipment Group, in any
Fiscal Year for which this Lease is in effect, shall not constitute an indebtedness of Lessee
within the meaning of the Constitution and laws of the State. Rental Payments shall be made
from any funds legally available therefor, but nothing herein shall constitute a pledge by
Lessee of any taxes or other moneys, other than moneys lawfully appropriated from time to
time by or for the benefit of Lessee for their purpose and the proceeds or Net Proceeds of the
Equipment, to the payment of any Rental Payment or other amount coming due hereunder.
Section 5.5 Rental Payments to be Unconditional. The obligation of Lessee to make Rental
Payments or any other payments required hereunder shall be absolute and unconditional in all
events ex~t as otherwise specifically provided in this Lease. Notwithstanding any dispute
between Lessee and Lessor or any other person, Lessee shall make all Rental Payments and
other payments required hereunder when due and shall not withhold any Rental Payments or
other payment pending fmal resolution of such dispute nor shall Lessee assert any right of set-
off or counterclaim against its obligation to make such Rental Payments or other payments
required under this Lease. Lessee's obligation to make Rental Payments or other payments
during the Lease Term shall not be abated through accident or unforeseen circumstances
except as provided in Section 5.2.
ARTICLE VI: INSURANCE AND NEGUGENCE
Section 6.1 I i2hili~ Inml'2n""'. Upon ordering any Equipment Group and prior to receipt
of possession of the Equipment Group, Lessee shall take such measures as may be necessary to
ensure that any liability for injuries to or death of any person or damage to or loss of property
arising out of or in any way relating to the condiQon or the operation of the Equipment
Group or any party thereof, is covered by a blanket or other general1iability insurance policy
ffi2intained by the Lessee, with a coverage limit of not less than $1,000,000 per occurrence.
The Net Proceeds of all such insurance shall be applied toward extinguishment or satisfaction
of the liability with respect to which any Net Proceeds may be paid.
Section 6.2. PI'QIW" ~ Insul'llnce. Upon receipt of possession of any Equipment Group,
Lessee shall have and assume the risk of loss with respect thereto. Lessee shall procure and
maintain continuously in effect during the Term of this Lease, all.risk insurance, subject only
to the standard exclusions contained in the policy, in such amount as will be at least sufficient
so that a claim may be made for the full replacement cost of any part of the Equipment
damaged or destroyed and to pay the applicable Purchase Option Price of the Equipment.
Such insurance may be provided by a rider to an existing policy or under a separate policy.
Such insurance may be written with customary deductible amounts acceptable to Lessor. The
Net Proceeds of insurance required by this Section shall be applied to the prompt repair,
restoration or replacement of the Equipment, or to the purchase of the Equipment, as
provided in Section 6.8. Any Net Proceeds not needed for those purposes shall be paid to
Lessee.
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Section 6.3. Worker's Compensation Insurance. If required by State law, Lessee shall carry
worker's compensation insurance covering all employees on, in, near or about the Equipment,
and upon request, shall furnish to the Lessor certificates evidencing such coverage throughout
the Term of this Lease.
Section 6.4. Rental Interrqption and Loss of Use and Occupanc;y Insurance. Lessee shall
maintain or cause to be maintained at its expense throughout the Lease Term, rental
interruption insurance against loss of use of the Equipment or portions thereof with coverage
equal to the maximum total Rental Payments payable by Lessee for any consecutive twenty-
four (24) month period. The policy shall insure against abatement of Rental Payments payable
by Lessee resulting from Lessee's loss of use of the Equipment or any substantial portion
thereof and caused by any and all perils, either insured or uninsured, including acts of God.
Such insurance may be maintained in conjunction with or separate from any other similar
insurance carried by Lessee. The Net Proceeds of such insurance shall be payable to Lessor in
amounts proportionate to Lessee's loss of use of the Equipment and the corresponding rental
abatement, if any, and shall supplement Lessee's applicable Rental Payments, if any, during
the restoration period in sufficient amount to make Lessor whole.
Section 6.5. Reqpi"""'''''ts For All Insurance. All insurance policies (or riders) required by
this Article shall be taken out and maintained with responsible insurance companies organized
under the laws of one of the states of the United States and qua1ified to do business in the
State; and shall contain a provision that the insurer shall not cancel or revise coverage
thereunder without giving written notice to the insured parties at least ten (10) days before the
cancellation or revision becomes effective. Each insurance policy or rider required by this
Article VI shall name Lessor or its assignee as an additional insured party and loss payee and, if
required by Lessor, shal1 include a lender's loss payable endorsement for the benefit of Lessor
or its assignee. Prior to delivery of the Equipment to the Lessee, Lessee shall deposit with
Lessor, policies (and riders and endorsements, if applicable) evidencing any such insurance
procured by it, or by a certificate or certificates of the respective insurers stating that such
in.curance is in full force and effect. Before the expiration of any such policy or rider, Lessee
shall furnish to Lessor evidence that the policy has been renewed or replaced by another policy
conforming to the provisions of this Article.
Section 6.6. Self.Insurance. Notwithstanding the provisions of Sections 6.1 through 6.3,
Lessee may elect to meet the requirements of any such section through self-insurance provided
by a Qualified Self-Insurance Program having coverage limits equal to or greater than those
specified in such Section. In such event, Lessee shall give Lessor notice of such election and
provide to Lessor a full, true and correct copy of all documents providing for the .
establishment and ~dmin;"'=ration of the Qualified Self-Insurance Program and shall execute an
addendum to this Lease. As used herein, Qualified Self-Insurance Program means a program of
self-insurance which has been established by Lessee, or by Lessee and other political
subdivisions of the State, pursuant to a State law specifically authorizing the program, and
which is funded in a manner similar to commercial insurance or in a manner specified in such
State law.
Section 6.7. , --' s N~ivnce. Lessee assumes all risks and liabilities, whether or not
covered by insurance, for loss or damage to any Equipment and for injury to or death of any
person or damage to any property, whether such injury or death be with respect to agents or
employees of Lessee or of third parties, and whether such property damage be to Lessee's
property or to the property of others, which is proximately caused by the negligent conduct of
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Lessee, its officers, employees, and agents. Lessee hereby assumes responsibility for,
indemnifies Lessor against and agrees to reimburse Lessor for all liabilities, obligations, losses,
damages, penalties, claims, actions, costs, and expenses (including reasonable attorney's fees) of
whatsoever kind and nature, imposed on, incurred by or asserted against Lessor that in any
way relate to or arise out of a claim, suit, or proceedings based in whole or in part upon the
negligent conduct of Lessee, its officers, employees and agents, or based upon the possession,
use, operation, condition, or storage of the Equipment (unless caused by Lessor or its agents)
to the maximum extent permitted by law.
Sel:tion 6.8. n"ml\ge to or Destruction of EqJ1ipm"nt. If after delivery of any Equipment
to Lessee all or any part of the Equipment is lost, stolen, destroyed, or damaged beyond repair,
Lessee shall as soon as practicable after such event either: (a) replace the same at Lessee's sole
cost and expense with equipment of equal or greater value to the Equipment immediately
prior to the time of the loss occurrence, such replacement equipment to be subject to Lessor's
reasonable approval, whereupon such replacement shall be substituted in this Lease and the
other related documents by appropriate endorsement or amendment; or (b) pay the
applicable Purchase Option Price of the Equipment Group to which such Equipment belongs
as set forth in Exhibit B. Lessee shall notify Lessor of which course of action it will take
within fifteen (15) days after the loss occurrence. If Lessee fails or refuses to notify Lessor
within the required period, Lessor may, at its option, declare the applicable Purchase Option
Price of the Equipment Group to which such Equipment belongs set forth in Exhibit B
immediately due and payable, and Lessee shall be obligated to pay the same. The Net Proceeds
of all insurance payable with respect to the Equipment shall be available to the Lessee and shall
be used to discharge Lessee's obligation under this Section. On payment of the Purchase
Option Price with respect to any Equipment Group, this Lease shall terminate with respect to
such Equipment and Lessee thereupon shall become entided to such Equipment AS IS,
WITHOUT WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR FITNESS
FOR THE USE CONTEMPLATED BY LESSEE, except that such Equipment shall not be
subject to any lien or encumbrance created by or arising through Lessor.
ARTICLE Vll: OTHER OBUGATIONS OF LESSEE
Sel:tion 7.1. Use.: Pennits. Lessee shall exercise due care in the installation, use, operation
and maintenance of the Equipment, and shal1 not install, use, operate, or maintain the
Equipment improperly, carelessly, in violation of any State and Federal Law or for a purpose
or in a manner contrary to that contemplated by this Lease. Lessee shall obtain all permits and
licenses necessary for the installation, operation, possession, and use of the Equipment. Lessee
shall comply with all State and Federal Laws applicable to the installation, use, possession and
operation of the Equipment, and if compliance with any such State and Federal Law requires
changes or additions to be made to the Equipment, such changes or additions shall made by
Lessee at its expense.
Section 7.2. M"inten"nce of Eqpipm,,"t I!y T - Lessee shall, at its own expense,
maintain, preserve and keep the Equipment in good repair, working order and condition, and
shall from time to time make all repairs and replacements necessary to keep the Equipment in
such condition. Lessor shall have no responsibility for any of these repairs or replacements.
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Section 7.3. Taxes. Other Govemmental Chargl!S and Utility Cha~. Except as
expressly limited by this Section, Lessee shall pay all taxes and other charges of any kind which
are at any time lawfully assessed or levied against or with respect to the Equipment, the Rental
Payments or any part thereof, or which become due during the Term of this Lease, whether
assessed against Lessee or Lessor. Lessee shall also pay when due all gas, water, steam,
electricity, heat, power, telephone, and other charges incurred in the operation, maintenance,
use, occupancy and upkeep of the Equipment, and all special assessments and charges lawfully
made by any governmental body for public improvements that may be secured by a lien on
the Equipment; provided that with respect to special assessments or other governmental
charges that may lawfully be paid in installments over a period of years, Lessee shall be
obligated to pay only such installments as are required to be paid during the Term of this Lease
as and when the same become due. Lessee shall not be required to pay any federal, state or
local income, inheritance, estate, succession transfer, gift, franchise, gross receipts, profit,
excess profit, capital stock, corporate, or other similar tax payable by Lessor, its successors or
assigns, unless such tax is made in lieu of or as a substitute for any tax, assessment or charge
which is the obligation of Lessee under this Section.
Section 7.4. Advances. If Lessee shall fail to perform any of its obligations under this Article,
Lessor may, but shall not be obligated to, take such action as may be necessary to cure such
failure, including the advancement of money, and Lessee shall be obligated to repay all such
advances on demand, with interest at the rate of 18% per annum or the maximum rate
permitted by law, whichever is less, from the date of the advance to the date of repayment.
ARTICLE vm: 1TI1.E, SECURITY INTEREST; liENS
Section 8.1. :Iitk. During the Term of this Lease with respect to any Equipment Group, and
so long as Lessee is not in default under Article XII, legal tide to such Equipment Group and
any and all repairs, replacements, substitutions and modifications to it shall be in Lessee.
Upon termination of this Lease with respect to any Equipment Group pursuant to Article XII
hereof, full and unencumbered legal tide to such Equipment Group shall pass to Lessor, and
Lessee shall have no further interest therein. In either of such events, Lessee shall execute and
deliver to Lessor such documents as Lessor may request to evidence the passage of legal tide to
such Equipment Group to Lessor and the termination of Lessor's interest therein, and upon
request by Lessor shall deliver possession of the Equipment Group to Lessor in accordance
with Section 12.3. Upon termination of this Lease with respect to any Equipment Group,
through exercise of Lessee's option to purchase pursuant to Article X or through payment by
Lessee of all Rental Payments and other amounts relating thereto, Lessor's security or other
interest in such Equipment Group shall terminate, and Lessor shall execute and deliver to
Lessee such documents as Lessee may request to evidence the termination of Lessor's security
or other interest in such Equipment Group.
Section 8.2. SeOlrity Interest.. Lessee grants to Lessor a continuing, first priority security
interest in and to the Equipment, the proceeds thereof and all repairs, replacements,
substitutions and modifications thereto or thereof made pursuant to Section 8.5, in order to
secure Lessee's payment of all Rental Payments due during the Term of this Lease and the
performance of all other obligations herein to be performed by Lessee. Lessee will join with
Lessor in executing such financing statements or other documents and will perform such acts
as Lessor may request to establish and maintain a valid first lien and perfected security interest
in the Equipment. If requested by Lessor, Lessee shall conspicuously mark the Equipment
with appropriate lettering, labels or tags, and maintain such markings during the Term of this
Lease, so as clearly to disclose Lessor's security interest in the Equipment.
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Section 8.3. Lic:m. During the Term of this Lease, Lessee shall not, directly or indirectly,
create, incur, assume or suffer to exist any mongage, pledge, lien, charge, encumb_ or
claim on or with respect to the Equipment, other than the respective rights of Lessor and
Lessee as herein provided and Permitted Encumbrances. Except as expressly provided in
Section 7.3 and this Anicle, Lessee shall promptly, at its own expense, take such action as may
be necessary duly to discharge or remove any such mongage, pledge, lien, charge,
encumbrance or claim if the same shall arise at any time. Lessee shall reimburse Lessor for any
expense incurred by Lessor in order to discharge or remove any such mongage, pledge, lien
charge, encumbrance or claim.
Section 8.4. Installation of I .,.see' s F.qp.ipment. Lessee may at any time and from time to
time, in its sole discretion and at its own expense, install other items of equipment in or upon
the Equipment, which itetns shall be identified by tags or other symbols affixed thereto as
propeny of Lessee, shall remain the sole propeny of Lessee, and may be modified or removed
by Lessee at any time provided that Lessee shall repair and restore any and all damage to the
Equipment resulting from the installation, modification or removal of any such items.
Section 8.5. Modification of Equipment. Lessee shall, at its own expense, have the right to
make repairs to the Equipment and to make repairs ,replacements, substitutions and
modifications to all or any of the parts thereof. All such work and any pan or component
used or installed to make a repair or as a replacetnent, substitution or modification, shall
thereafter comprise part of the Equipment and be subject to the provision of this Lease. Such
work shall not in any way damage the Equipment or cause it to be used for purposes other
than those authorized under the provisions of State and Federal law or those contemplated by
this Lease; and the Equipment, upon completion of any such work shall be of a value which is
not less than the value of the Equipment immediately prior to the commencement of such
work.
Section 8.6. Personal Prqperty. The Equipment is and shall at all times be and remain
personal propeny, not withstanding that the Equipment or any pan thereof may be or
hereafter become in any manner affixed or attached to or embedded in or permanently rested
upon real propeny of any building thereon, or attached in any manner to what is permanent
by means of cement, plaster, nails, bolts, screws, or otherwise.
ARTICLE IX: WARRANTIES
Section 9.1. Selection of Eqpipm....t. The Equipment and the Contractor have been selected
by Lessee, and Lessor shall have no responsibility in connection with the selection of the
Equipment, its suitability for the use intended by the Lessee, the acceptance by the Contractor
or its sales representative of the order to be submitted, or any delay or failure by the
Contractor or its sales representative to manufacture, deliver or install the Equipment for use
by Lessee. Lessee authorizes Lessor to add the serial number of the Equipment to Exhibit A
when avai1able.
Section 9.2. Instalb.tion and M.unt....ance of Eqpipm....t. Lessor shall have no obligation
to install, erect, test, inspect, service or maintain the Equipment under any circumstances, but
such actions shall be the obligation of Lessee or the Contractor.
Section 9.3. Contr2ctor'. Warranties. Lessor hereby assigns to Lessee for and during the
T enn of this Lease all of its interest, if any, in all Contractor's warranties and guarantees,
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express or implied, issued on or applicable to the Equipment, and Lessor hereby authorizes
Lessee to obtain the customary services furnished in connection with such warranties and
guarantees at Lessee's expense.
Section 9.4. Patent Infringl'11'lent. Lessor hereby assigns to Lessee for and during the Term
of this Lease, all of its interest, if any, in patent indemnity protection provided by any
Contractor with respect to the Equipment. Such assignment of patent indemnity protection
by Lessor to Lessee shall constitute the entire liability of Lessor for any patent infringement by
Equipment furnished pursuant to this Lease.
Section 9.5. Discl:oimer of W:OlT::ll1ties. THE EQUIPMENT IS DELIVERED AS IS, AND
LESSOR MAKES NO WARRANTY OR REPRESENTATION, EITHER EXPRESS OR
IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY OR
FITNESS FOR ANY PARTICULAR PURPOSE OR FITNESS FOR THE USE
CONTEMPLATED BY LESSEE OF THE EQUIPMENT, OR ANY OTHER
REPRESENTATION OR WARRANTY WITH RESPECT TO THE EQUIPMENT. IN
NO EVENT SHALL LESSOR BE LIABLE FOR ANY INCIDENTAL OR
CONSEQUENTIAL DAMAGES IN CONNECTION WITH OR ARISING OUT OF
THIS LEASE OR THE EQUIPMENT OR LESSEE'S USE OF THE EQUIPMENT.
ARTICLE X: OPTION TO PURCHASE
Section 10.1. When Av:oil:ohle. Lessee shall have the option to purchase Lessor's interest in
any Equipment Group on any Payment Date relating thereto for the then applicable Purchase
Option Price set forth in the page of Exhibit B relating thereto, but only if Lessee is not in
default under this Lease, and only in the manner provided in this Article.
Section 10.2. F-xerdse of Qption. Lessee shall give notice to Lessor of its intention to
exercise its option with respect to any Equipment Group not less than thirty (30) days prior to
the Payment Date on which the option is to be exercised and shall deposit with Lessor on the
date of exercise an ::!.mount equal to all Rental Payments and any other ::!.mounts relating to
such Equipment Group then due or past due (including the Rental Payment relating thereto
due on the Payment Date on which the option is to be exercised) and the applicable Purchase
Option Price set forth in the Equipment Schedule relating thereto. The closing shall be on the
Payment Date on which the option is to be exercised at the office of Lessor.
Section 10.3. ReIe"",, of T ...sor' s Interest. Upon exercise of the purchase option with
respect to any Equipment Group by Lessee, Lessor shall convey or release to Lessee, all of its
right, tide, and! or interest in and to the Equipment Group by delivering to Lessee such
documents as Lessee deems necessary for this purpose.
ARTICLE XI: ASSIGNMENT, SUBLEASING, MORTGAGING AND SELUNG
Se..'1ion 11.1. Assipm....t by T -sor. Lessor shall not assign its obligations under this Lease,
and no purported assignment thereof shall be effective. All of Lessor's right, tide and! or
interest in and to any Equipment Schedule, Equipment Group, the Rental Payments and other
::!.mounts due with respect thereto, and the right to exercise all rights under this Lease relating
to such Equipment Schedule and Group may be assigned and reassigned in whole or in part to
Oile or more assignees or subassignees by Lessor at any time, without the consent of Lessee.
No such assignments shall be effective as against Lessee unless and until the assignor shall have
filed with Lessee a copy or written notice thereof identifying the assignee. During the Lease
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Term, Lessee shall keep a complete and accurate record of all such assignments. In the event
Lessor assigns participations in its right, title and! or interest in and to any Equipment
Schedule, Equipment Group, the Rental Payments and other amounts due with respect
thereto, and the rights granted under this Lease relating thereto, such participants shall be
considered to be Lessor with respect to their participated shares thereof.
Section 11.2. AssiV'ment lInd SublelL.inll' Qy l.e<see. Neither this Lease nor Lessee's
interest in an Equipment Group may be sold, assigned, subleased, transferred, pledged or
mongaged by Lessee without the written consent of Lessor. However, Equipment may be
subleased by Lessee to a State agency or other political subdivision for the performance of
essential government services by such agency or subdivision without the consent of Lessor,
provided that: (a) this Lease and the obligation of Lessee to make Rental Payments hereunder,
shall remain obligations of Lessee and (b) the sublessee assumes the obligations of Lessee with
respect to the Equipment subleased. Lessee shall immediately furnish to Lessor a true and
complete copy of such sublease. No sublease shall cause the interest component of the Rental
Payments due with respect to the Equipment Group to become includable in gross income of
the recipient for federal income tax purposes.
ARTICLE XII: EVENTS OF DEFAULTS AND REMEDIES
Section 12.1. Event. of '[)efllult Defined. The following shall be "events of default" under
this Lease with respect to any Equipment Group and the Equipment Schedule relating thereto,
and the terms "events of default" and "default" shall mean, whenever they are used in this
Lease, with respect to any Equipment Group, anyone or more of the following events:
(~) 9<<ilure.b Lessee to pay any ~ental P"f!11ent or o~er pa~ent .. ~
der ase With ect to y-Eqwpment GroUp~ the time s led herem and the
. uation of said failure or a period of three (3) days.- ~-
(b) Failure by Lessee to observe and perform any covenant, condition, or agreement
on its pan to be observed or performed with respect to any Equipment Group, other than as
referred to in CilIuse (a) of this Section, for a period of thirty (30) days after written notice
specifying such failure and requesting that it be remedied has been given to Lessee by Lessor,
unless Lessor shall agree in writing to an extension of such time prior to its expiration;
provided, however, 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
corrective action is instituted by Lessee within the applicable period and diligently pursued
until the default is corrected.
(c) The determination by Lessor that any representation or warranty made by Lessee
in this Lease was untrue in any material respect upon execution of this Lease or any
Equipment Schedule.
(d) The filing by Lessee of a voluntaty petition in bankruptcy, or failure by Lessee
promptly to lift any exectltion, garnishment or attachment of such consequence as would
impair the ability of Lessee to carry on its governmental functions or adjudication of Lessee as
a bankrupt, or assignment by Lessee for the benefit of creditors, or the entry by Lessee into an
agreement of composition with creditors, or the approval by a coun of competent jurisdiction
of a petition applicable to Lessee in any proceedings instituted under the provisions of the
United States Bankruptcy Code, as amended, or under any similar acts which may hereafter be
enacted.
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An event of default with respect to one Equipment Group shall not constitute an event of
default with respect to any other Equipment Group.
Section 12.2. Remedi~. on Default. Whenever any event of default referred to in Section
12.1 hereof shall have happened and be continuing with respect to any Equipment Group,
Lessor shall have the right, at its option and without any further demand or notice, to take one
or any combination of the following remedial steps:
(a) Lessor, with or without terminating this Lease with respect to such Equipment
Group, may collect each installment of Rental Payments as it becomes due and payable in
accordance with the related Equipment Schedule.
(b) Lessor, with or without terminating this Lease with respect to such Equipment
Group, may repossess the Equipment Group by giving Lessee written notice to deliver such
Equipment Group to Lessor, whereupon Lessee shall return the Equipment Group in the
manner provided in Section 12.3; or in the event Lessee fails to do so within ten (10) days after
receipt of such notice, Lessor may enter upon Lessee's premises where the Equipment Group
is kept and take possession of the Equipment Group and charge Lessee for costs incurred in
repossessing the Equipment Group, including reasonable attorney's fees. Lessee hereby
expressly waives any damages occasioned by such repossession. Notwithstanding the fact that
Lessor has taken possession of the Equipment Group, Lessee shall continue to be responsible
for the Rental Payments due with respect thereto as and when such Rental Payments become
or would have become due and payable. If this Lease has not been terminated with respect to
such Equipment Group, Lessor shall return the Equipment to Lessee at Lessee's expense when
the event of default is cured.
(c) If Lessor takes possession and disposes (whether by sale, lease or otherwise) of such
Equipment Group or any portion thereof, Lessor shall apply the proceeds of any such
disposition to pay the following items in the following order: (i) all costs incurred in securing
possession of the Equipment Group; [11) all expenses incurred in completing the disposition;
(iii) the balance of any Rental Payments with respect thereto as and when such Rental
Payments would have become due and payable. Any disposition proceeds rem.ining after the
requirements of clauses (i), [11) and (iii) have been met shall be paid to Lessee.
(d) By action pursuant to the California Code of Civil Procedure, or as otherwise
provided by law, for the issuance of a writ of mandamus enforcing, for the entire balance of
the Lease Term, the duty of Lessee to appropriate and take all other .tlministrative steps
necessary for the making of Rental Payments.
(e) Lessor may take any other remedy available at law or in equity with respect to
such event of default, including those requiring Lessee to perform any of its obligations
hereunder or to pay any moneys due and payable to Lessor hereunder, provided Lessor shall
have no right to accelerate Rental Payments or otherwise declare Rental Payments not then in
default to be immediately due and payable.
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Section 12.3. Return of Eqpipment. Upon the expiration or termination of this Lease with
respect to any Equipment Group prior to the payment of all Rental Payments in accordance
with Exhibit B, Lessee shall return such Equipment Group to Lessor in the condition, repair,
appearance and working order required in Section 7.2, in the following manner as may be
specified by Lessor: (a) by delivering the Equipment Group, at Lessee's cost and expense, to
such place within the State as Lessor shall specify; or (b) by loading such ponions of the
Equipment Group as are considered movable, at Lessee's cost and expense, on board such
carrier as Lessor shall specify and shipping the same, freight prepaid, to the place specified by
Lessor. If Lessee refuses to return the Equipment Group in the manner designated, Lessor
may repossess the Equipment Group and charge to Lessee the costs of such repossession or
pursue any remedy described in Section 12.2.
Section 12.4. No Remetly F.xclusive. No remedy conferred upon or reserved to Lessor by
this Article is intended to be exclusive and every such remedy shall be cumulative and shall be
in addition to every other remedy given under this Lease. 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 and power may be exercised from time to
time and as often as may be deemed expedient by Lessor or its assignee.
Section 12.5. Agreement to P"Y Attorn<:y's Fees ..nd E'Q)'!"ses. In the event either party
to this Lease should default under any of the provisions hereof and the nondefaulting party
should employ attorneys and! or incur other expenses for the collection of moneys or for the
enforcement of performance or observance of any obligation or agreement on the part of the
defaulting party herein contained, the defaulting party agrees that it will on demand therefor
pay to the nondefaulting party the reasonable fees of such attorneys and! or such other
reasonable expenses so incurred by the nondefaulting party.
Section 12.6. bte Cha~. Whenever any event of default referred to in Section 12.1, Clause
(a) hereof shall have happened and be continuing with respect to any Equipment Group,
Lessor shall have the right, at its option and without any further demand or notice, to require
a late payment charge for each thirty (30) day period or part thereof during which such event
or default occurs equal to four percent (4%) of the de1inquent amount, and Lessee shall be
obligated to pay the same immediately upon receipt of Lessor's written invoice therefor;
provided, however, that this Section 12.6 shall net be applicable if or to the extent that the
application thereof would affect the validity of this Lease.
ARTICLE XIII: ADMINISTRATIVE PROVISIONS
Section 13.1. Notices. All notices, certificates, legal opinions or other communications
hereunder shall be sufficiendy given and shall be deemed given when delivered or deposited in
the United States mail in registered fonn with postage fully prepaid to the addresses specified
on the execution page hereof; provided that Lessor and Lessee, by notice given hereunder,
may designate different addresses to which subsequent notices, certificates, legal opinions or
other communications will be sent.
Section 13.2. Fin_,,;..1 Inform..tion. During the Term of this Lease, Lessee annually will
provide Lessor with current financial statements, budgets, proof of appropriation for the
ensuing Fiscal Year and such other financial infonnation relating to the ability of Lessee to
continue this Lease as may be requested by Lessor or its assignee.
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. Section 13.3. Binding Ef2... This Lease shall inure to the benefit 9 and shall be binding
upon Lessor and Lessee and their respective successors and assigns.
Section 13.4. Severabili~. In the event any provision of this Lease shall be held invalid or
unenforceable by any court or competent jurisdiction, such holding shall not invalidate or
render unenforceable any other provisions hereof.
Section 13.5. Amendments. Change< and Modifications. This Lease may be amended or
any of its terms modified only by written document duly authorized, executed, and delivered
by Lessor and Lessee.
Section 13.6. Captions. The captions or headings in this Lease are for convenience only and
in no way defme, limit or describe the scope or intent of any provisions, Articles, Sections or
Clauses of this Lease.
Section 13.7. Further Assurances and Corrective Instmment.. Lessor and Lessee agree
that they will, from time to time, execute, acknowledge and deliver, such supplements hereto
and such further instruments as may reasonably be required for correcting any inadequate or
incorrect description of the Equipment hereby leased or intended so to be, or for otherwise
carrying out the expressed intention of this Lease.
Section 13.8. Execution in Countetparts. This Lease may be simultaneously executed in
several counterparts, each of which shall be an original and all of which shall constitute but
one and the same instrument. Upon Lessor's request, Lessee agrees to execute additional
counterparts of the Lease that may be required for the assignees of Equipment Schedules issued
hereafter.
Section 13.9. Applicable Law. This Lease shall be governed and construed with the laws of
the State.
Section 13.10. Financinr ~~"'~""'ent. A carbon, photographic or other reproduction of this
Lease or of any financing statements signed by Lessee is sufficient as a fmancing statement in
any state to perfect the security interests granted in this Lease.
IN WITNESS WHEREOF, Lessor has caused this Lease to be executed in its corporate name
by its duly authorized officer; and Lessee has caused this Lease to be executed in its name by
its duly elected officer, as of the date first above written.
CITY OF SAN BERNARDINO
Lessee
ACCESS PUBUC FUNDING, INC.
Lessor
By:
By:
Its:
Its:
Date:
Date:
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RESOLUTION NO.
94-301
RESOLUTION OF THE CITY OF SAN BERNARDINO ACCEPTING LEASE-
PURCHASE MASTER AGREEMENT FOR ACCESS PUBLIC FUNDING, INC. FOR THE
FURNISHING OF LEASE PURCHASE FINANCING.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS:
SECTION 1. That Equipment Lease-Purchase Master Agreement
with Access Public Funding, Inc. (the "Agreement"), a copy
of which is attached hereto and incorporated herein as Exhibit
"A", is approved by the City of San Bernardino for the furnishing
M ~ t."( il\te,.ult"c~
of Lease-Purchase Financin~ pursuant to this determination, said
Master Lease-Purchase Agreememt award shall only be effective upon
the execution of an Agreement by the Mayor of the city of San
Bernardino.
SECTION 2. The city shall not be obligated under the
Agreement unless and until the Agreement is fully executed and no
oral agreement relating thereto shall be implied or authorized.
The authorization to execute the above referenced Agreement is
rescinded if the parties fail to execute it within sixty (60) days
of the passage of this resolution.
SECTION 3. No transactions shall be initiated under the
Master Lease contained in the Agreement without the approval of
the Mayor and Common Council.
SECTION 4. The City shall not be obligated until
a lease-purchase schedule transaction for material, equipment,
supplies or contracted services is executed with the vendor under
this Agreement.
/ / / /
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07-21-94
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94-301
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RESOLUTION OF THE CITY OF SAN BERNARDINO ACCEPTING LEASE PURCHASE
MASTER CONTRACT FOR ACCESS PUBLIC FUNDING FOR THE FURNISHING OF
LEASE PURCHASE FINANCING.
SECTION 5. The purchasing Agent, Director of Finance and
the City Attorney are hereby authorized to execute such documents
as necessary for the administration of transactions under the
Agreement.
I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the city of San
Bernardino at a
reqular
meeting thereof, held on the
3rd
October
, 199..L-' by
day of
the following vote, to wit:
Council Members:
ABSTAIN
ABSENT
AYES
NAYS
NEGRETE x
CURLIN x
HERNANDEZ x
OBERHELMAN x
DEVLIN x
POPE-LUDLAM x
MILLER x
City Clerk
The foregoing resolution is hereby approved this
day of October , 199---1..-.
Tom Minor, Mayor
city of San Bernardino
Approved as to form
and legal content:
James F. Penman,
City Attorney
By:
07-21-94
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ITEM #9
ACCESS PUBLIC FUNDING INC.
SECTION 5.3 (Pq. 5 of Aqreement)
Amend to read:
~
Section 5.3. Non-aDDroDriation. In the event that durina anv
fiscal vear of Lessee sufficient funds are not aDDroDriated for the
a ental t ' e
next f ea
re e e dot
not be obliaated to Dav the Rental Pavments bevond such fiscal
vear. Lessee aarees to aive Lessor written notice of such
termination at least sixtv (601 davs Drior to the end of the then
u . scal t s t ' ated under this
Sect' n 5.3. se a ee e e ve he ment to
Lessor at such locati.on desi.QD.at:~d e ess' 0 e st
and e e a the d . tion re b Sect' on 7.2 hereof
toaether with such documents and assurances as Lessor mav
reasonablv reauest.
SECTION 12.1(a) (paqe 12 of Aqeement):
Amend to read:
(a) Failure by Lessee to pay any Rental Payment or other
payment required to be paid under this Lease with respect to any
Equipment Group at the time specified herein and the continuation
of said failure for a period of ten (101 days.
#q