Loading...
Res 52-16EITY OF OIELRRY BEREH DELRAY BEACH 100 N.W. 1st AVENUE • DELRAY BEACH, FLORIDA 33444 561/243-7000 All-AmericaCity 1 1 1993 CERTIFICATION 2001 I, CHEVELLE D. NUBIN, CMC, City Clerk of the City of Delray Beach, do hereby certify that the attached document is a true and correct copy of Resolution No. 52-16, as the same was passed and adopted by the Delray Beach City Commission in regular session on the 6th day of December 2016. IN WITNESS WHEREOF, I have hereunto set my hand and the official seal of the City of Delray Beach, Florida, on this the 14th day of December 2016. Chevelle D. Nubin, CMC City Clerk City of Delray Beach, Florida SERVICE • PERFORMANCE • INTEGRITY • RESPONSIBLE • INNOVATIVE • TEAMWORK RESOLUTION NO. 52-16 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND DELIVERY OF MASTER EQUIPMENT LEASE/PURCHASE AGREEMENT WITH _ PNC EQUIPMENT FINANCE, LLC, AS LESSOR, TOGETHER WITH SEPARATE SCHEDULES THERETO; AUTHORIZING THE ACQUISITION, PURCHASE, FINANCING AND LEASING OF CERTAIN EQUIPMENT FROM TIME TO TIME, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $2,650,000; NO GENERAL OBLIGATION; AUTHORIZING THE PROPER OFFICERS OF THE CITY TO DO ALL OTHER THINGS DEEMED NECESSARY OR ADVISABLE TO CONSUMMATE THE TRANSACTION CONTEMPLATED HEREIN; SEVERABILITY OF INVALID PROVISIONS AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Commission (the "Commission"), as a governing body of the City of Delray Beach, Florida (the "City"), is authorized by under the laws of the State of Florida, particularly Chapter 166, Florida Statutes, as amended, to purchase, acquire and lease personal property for the benefit of the City and its inhabitants and to enter into agreements with respect thereto; and WHEREAS, the Commission hereby determines that a need exists for the acquisition, purchasing and financing of certain equipment, including but not limited to, two Pierce Velocity pumpers, one Pierce Velocity 75' Heavy Aluminum ladder truck, golf carts and such other equipment as may be necessary for the provision of public safety and other general municipal services (collectively, the "Equipment"); and WHEREAS, in order to acquire such Equipment, the City desires to enter into that certain Master Lease -Purchase Agreement (the "Master Equipment Lease") with PNC Equipment Finance, LLC, as lessor (the "Lessor"), attached hereto as Exhibit "A", together with separate schedules, (each, a "Schedule"), in the form attached to the Master Equipment Lease; and, WHEREAS, the Commission hereby determines that it is in the best interest of the City for the efficient and effective acquisition, purchase and financing of the Equipment, and based on the current market conditions, and to achieve the best interest rates on favorable terms offered by the Lessor, it is in the best interest of the City to enter into the Master Equipment Lease with the Lessor on a negotiated basis; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section 1. FINDINGS AND DETERMINATIONS. It is hereby ascertained, determined and declared that: (a) The acquisition, purchase and financing of the Equipment from time to time serve a valid municipal purpose. (b) The City, having previously solicited proposals for lease financing, has determined that the best qualified proposal for such Lease financing was delivered by the Lessor. (c) The negotiation of the lease financing with the Lessor is in the best interest of the City by reason of the nature of and schedule to receive proceeds under the Master Equipment Lease when needed, the aforementioned solicitation of proposals and the present market conditions. (d) The Master Equipment Lease, in the form attached hereto as Exhibit A, together with the form of Schedule attached thereto, is hereby approved, with such omissions, insertions and variations as may be necessary and desirable, as evidenced by the City's execution thereof and the Mayor (or in his absence, the Vice Mayor) and City Clerk are hereby authorized to execute the Master Equipment Lease on behalf of the City. (e) Any capitalized term not otherwise defined herein, shall have the meaning ascribed to such term in the Master Equipment Lease. Section 2. AUTHORIZATION OF LEASE PURCHASE FINANCING. Subject and pursuant to the provisions of this Resolution and the Master Equipment Lease, the City is hereby authorized to acquire and finance the costs of the Equipment in the aggregate principal amount of not exceeding Two Million Six Hundred Fifty Thousand Dollars ($2,650,000) under the Master Equipment Lease. The City Manager is hereby authorized to execute one or more Schedules to the Master Equipment Lease for the acquisition, purchase and financing of the Equipment, each Schedule together with the Master Equipment Lease is hereinafter referred to as a "Lease". Upon execution of such Schedule, the City Manager shall provide to the Commission within three days of such execution, a memorandum informing the Commission of the terms of the Schedule. The total aggregate principal amount to be financed under all of the Schedules shall not exceed Two Million Six Hundred Fifty Thousand Dollars ($2,650,000). Section 3. NO GENERAL OBLIGATION. Nothing contained in this Resolution, the Master Equipment Lease, any Schedule, any Lease or any other instrument shall with respect to Rental Payments or any other obligation thereunder constitutes an indebtedness of the City within the meaning of any constitutional, statutory or other limitation of indebtedness, but shall be secured and payable solely as a current expense. The Lessor shall never have the right to compel the exercise of the ad valorem taxing power of the City with respect to any payment or obligation of the City under the Master Equipment Lease, any Schedule, Lease or any other instrument contemplated thereby. 2 RES NO 52-16 Section 4. SEVERABILITY OF INVALID PROVISIONS. If any one or more of the covenants, agreements or provisions of this Resolution should be held contrary to any express provision of law or contrary to the policy of express law, though not expressly prohibited, or against public policy, or shall for any reason whatsoever be held invalid, then such covenants, agreements or provisions shall be null and void and shall be deemed separate from the remaining covenants, agreements or provisions, and shall in no way affect the validity of any of the other provisions of this Resolution. Section 5. FURTHER AUTHORIZATIONS; RATIFICATION OF PRIOR ACTS. That the Mayor, Vice Mayor, the City Manager, the Chief Financial Officer, the Treasurer, the City Clerk, the City Attorney and any other authorized official of the City, be and each of them is hereby authorized and directed to execute and deliver any and all documents and instruments, and to do and cause to be done any and all acts and things necessary or proper for carrying out the transactions contemplated by this Resolution. All actions heretofore taken and documents prepared or executed by or on behalf of the City by any of its authorized officers in connection with the transactions contemplated hereby, are hereby ratified, confirmed, approved and adopted. Section 6. REPEALER. That all resolutions or proceedings, or parts thereof, in conflict with the provisions of this Resolution are to the extent of such conflict hereby repealed. Section 7. EFFECTIVE DATE. That this Resolution shall take effect immediately upon its passage. PASSED AND ADOPTED this 6th day of December, 2016. CITY CLERK Mayor RES NO 52-16