HomeMy WebLinkAbout98-80 - Master Equipment Lease-Purchase AgreementRESOLUTION NO. 98 -80
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RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH AUTHORIZING THE EXECUTION AND
DELIVERY OF A MASTER EQUIPMENT LEASE/PURCHASE
AGREEMENT, AND RELATED INSTRUMENTS, AND
DETERMINING OTHER MATTERS IN CONNECTION
THEREWITH
WHEREAS, the City of Newport Beach ( "Lessee ") is a chartered city (a public body,
corporate and politic) duly created, established and authorized to transact business and
exercise its powers, all under and pursuant to the City Charter and the Constitution and laws of
the State of California; and
WHEREAS, the City Council of Lessee has determined that a true and very real need
exists for the equipment and other items (the "Equipment') consisting of a document imaging
system, certain digital radio equipment and components of the 800 megahertz police
communication system all as more fully described in the proposed Master Equipment
Lease /Purchase Agreement with Municipal Funding Group, together with an associated Escrow
Agreement, Tax Compliance Agreement and No Arbitrage Certificate (collectively, the
"Agreement') presented to this City Council; and
• WHEREAS, the Lessee has taken the necessary steps, including those relating to any
applicable legal bidding requirements to arrange for the acquisition of the Equipment; and
WHEREAS, Lessee proposes to enter into the Agreement with Municipal Funding Group
and all other identified parties substantially in the form presented to this City Council; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Newport
Beach does hereby resolve, order, and determine as follows:
Section 1. It is hereby found and determined that the terms of the Agreement in the
form presented to this City Council and incorporated in this resolution are in the best interests
of Lessee for the acquisition of the Equipment.
Section 2. The Agreement is hereby approved. The City Manager of Lessee and any
other officer of Lessee who shall have power to execute contracts on behalf of Lessee be, and
each of them thereby is, authorized to execute, acknowledge and deliver the Agreement
(including the documents associated therewith referenced in the recitals hereto) with any
changes, insertions and omissions therein as may be approved by the officers who execute the
Agreement, such approval to be conclusively evidenced by such execution and delivery of the
Agreement. The City Manager of the lessee and any other officer of Lessee who shall have
power to do so be, and each of them hereby is, authorized to affix the official seal of Lessee to
the Agreement and attest the same.
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• Section 3. The proper officers of Lessee be, and each of them hereby is, authorized
and directed to execute and deliver any and all papers, instruments, opinions, certificates,
affidavits and other documents to do or cause to be done any and all other acts and things
necessary or proper for carrying out this resolution and the Agreement.
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Section 4. The Lessee further certifies that this resolution has not been repealed or
amended and remains in full force and effect and further certifies that the within Master
Equipment Lease /Purchase Agreement is the same as presented to said City Council of the
Lessee
Section 5. Stradling Yocca Carlson & Rauth, a Professional Corporation, is confirmed
to act as counsel to the City on the terms set forth in the letter on file with the Director of
Finance for the purpose of rendering certain opinions to the Lessor on behalf of the City, in
conjunction with the City Attorney.
Section 6. This resolution shall take effect immediately upon its adoption.
ADOPTED this 14th day of
ATTEST:
December 1998.
c
Mayor, City of Newport Beach
QQ G'�Nr PO City Clerk, City of Newport Beach
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• STATE OF CALIFORNIA }
COUNTY OF ORANGE } ss.
CITY OF NEWPORT BEACH }
I, LAVONNE M. HARKLESS, City Clerk of the City of Newport Beach, California, do
hereby certify that the whole number of members of the City Council is seven; that the foregoing
resolution, being Resolution No. 98 -80, was duly and regularly introduced before and adopted by the
City Council of said City at a regular meeting of said Council, duly and regularly held on the 141h day
of December, 1998, and that the same was so passed and adopted by the following vote, to wit:
Ayes: Adams, Glover, Thomson, Debay, Ridgeway, Noyes, Mayor O'Neil
Noes: None
Absent: None
Abstain: None
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the
• official seal of said City this 15th day of December, 1998.
(Seal)
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City Clerk of the City of
Newport Beach, California