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$ UST <br /> <br /> 28202 CABOT ROAD <br /> SUITE 300 <br />LAGUNA NIGUEL, CA 92677 <br /> <br />Tuesday, November 05, 2002 <br /> <br />Rod Coloma <br />Executive Director of Finance <br />City of Santa Ana <br />20 Civic Center Plaza <br />Santa Ana, CA 92702 <br /> <br /> VIA E-MAIL <br />RE: Proposal for Lease-Purchase Financing <br /> <br />Dear Rod: <br /> <br />SunTrust Leasing Corporation ("SLC") is pleased to present to the City of Santa Ana its <br />proposal for equipment financing. The terms and conditions of our proposal are outlined as <br />below: <br /> <br />LESSEE: <br /> <br />City of Santa Ana. Lessee is a state or political <br />subdivision within the meaning of Section 103(c) <br />of the Internal Revenue Code of 1986, as <br />amended (the "Code"). <br /> <br />LESSOR: <br /> <br />SunTrust Leasing Corporation, or its Assignee <br /> <br />TYPE OF FINANCING: <br /> <br />Master Lease Agreement. Said Agreement shall <br />be a net lease arrangement whereby Lessee is <br />responsible for all costs of operation, <br />maintenance, insurance, and taxes. The <br />Agreement shall be based on the annual <br />appropriation of funds during each year of the <br />lease term and shall be substantially the same as <br />the sample document attached. <br /> <br />BANK QUALTFZCATZON: <br /> <br />Lessee reasonably anticipates the total amount of <br />tax-exempt obligations (other than private <br />activity bonds) to be issued by Lessee during <br />calendar year 2002 will not exceed ten million <br />($10,000,000.00) dollars. <br /> <br />EQUIPMENT: <br /> <br />Energy Management Project <br /> <br />OPT <br /> <br />A <br /> <br />EQUIPMENT <br />COST <br />$3e300~000.00 <br /> <br /> RATE <br /> <br />3.42520/0 <br /> <br />TERM <br /> <br />10 YEARS <br /> <br />STRCTURE <br /> <br />SEMI-ANNUAL ARREARS <br /> <br />FIRST PAY <br />DUE <br />12-30-03 <br /> <br /> PAYMENT <br /> <br />$199,354.09 <br /> <br />Resolution No. 2003-013 <br />Page 4 of 6 <br /> <br /> <br />