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215 <br /> <br />RESOLUTION NO. 98- 034 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA AUTHORIZING AND DIRECTING <br />THE EXECUTION OF CERTAIN LF.~SE FINANCING <br />DOCUMENTS AND AUTHORIZING AND DIRECTING <br />CERTAIN ACTIONS WITH RESPECT THERETO <br /> <br /> WHERF~A~, the City proposes to finance certain computer hardware, software <br />and consulting services (the "Project"); and <br /> <br /> WHEREA~, the City has solicited proposals from commercial leasing firms <br />in connection therewith and the City has received proposals from several firms; <br />and <br /> <br /> WHEREA~, the proposal of Pitney Bowes Credit Corporation (the "Lessor"), <br />a copy of which is attached hereto {the "Proposal"), is the best proposal, <br />providing the lowest cost to the City for financing the Project; and <br /> <br /> WHEREAS, it is in the public interest and for the public benefit that the <br />City authorize and direct execution of a lease agreement with the Lessor and <br />certain other financing documents in connection therewith; and <br /> <br /> WHEREAS, the documents below specified have been filed with the City, and <br />the members of the Council, with the aid of its staff, shall review said <br />documents; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF SANTA <br />ANA: <br /> <br />Hereby approves and accepts the Proposal; and <br /> <br />The below-enumerated documents are hereby approved, and the Mayor, <br />the City Manager or the Executive Director, Finance & Management <br />Services Agency, or the designee of any such official, is hereby <br />authorized and directed to execute said documents, with such <br />changes, insertions and omissions as may be approved by such <br />official, and the Clerk of the Council is hereby authorized and <br />directed to attest to such official's signature: <br /> <br />(a) <br /> <br />a lease agreement, by and between the Lessor, as lessor, and <br />the City, as lessee (the "Lease Agreement"), so long as the <br />basic financial terms thereof are consistent with the <br />Proposal; and <br /> <br />(b) <br /> <br />an escrow agreement, by and between the City and a trustee <br />bank to be selected, relating to the receipt, investment and <br />disbursement of moneys paid by the Lessor to the City under <br />the Lease Agreement. <br /> <br /> <br />