HomeMy WebLinkAbout99-009 - Directing the Execution of Certain Lease Financing Documents RESOLUTION NO. 1999-009,
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA AUTHORIZING AND DIRECTING THE EXECUTION
OF CERTAIN LEASE FINANCING DOCUMENTS AND
AUTHORIZING AND DIRECTING CERTAIN ACTIONS WITH
RESPECT THERETO
WHEREAS, the City proposes to finance certain modular furniture
systems, seating and ancillary furniture (the ~'Project#); and
WHEREAS, the City has solicited proposals from commercial leasing firms
in connection therewith and the City has received proposals from several
firms; and
WHERE~, the proposal of ~anc One Leasing (the ~Lessor"), a copy of
which is attached ~ereto (the ~P~po~al#), is the best proposal, providing
the lowest cost to the City for financing the Project; and
WHEREAS, it is in the public interest and for the public benefit that
the City authorize and direct execution of a lease agreement with the Lessor
and certain other financing doc~unents in connection therewith; and
WHEREAS, the documents below specified have been filed with the City,
and the members of the Council, with the aid of its staff, shall review said
documents;
NOW, THEREFORE, BE-IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF
SANTA ANA:
1. Hereby approves and accepts the Proposal; and
The below-enumerated documents are hereby approved, and the
Mayor, the City Manager or the Executive Director, Finance &
Management Services Agency, or the designee of any such official,
is hereby authorized and directed to execute said documents, with
such changes, insertions and omissions as may be approved by such
official and the City Attorney, and the Clerk of the Council is
hereby authorized and directed to attest to such official's
signature:
(a)
a lease agreement, by and between the Lessor, as lessor,
and the City, as lessee (the ~Lease Agreement"), so long as
the basic financial terms thereof are consistent with the
Proposal; and
(b)
an escrow agreement, if required, by and between the City
and a trustee bank to be selected, relating to the receipt,
investment and disbursement of moneys paid by the Lessor to
the City under the Lease Agreement.
Quint & Thimmig LLP, San Francisco, California, is hereby
designated as bond counsel to the City in connection with the
execution and delivery of the Lease Agreement. The Mayor, the
City Manager or the Executive Director, Finance & Management
Services Agency, or the designee of any such official, is hereby
authorized and directed in the name and on behalf of the City to
execute an Agreement for Legal Services with such firm.
PMG Financial Consulting, Orange, California, is hereby
designated as financial advisor to the City in connection with
the execution and delivery of the Lease Agreement. The Mayor,
the City Manager or the Executive Director, Finance & Management
Services Agency, or the designee of any such official, is hereby
autherized and directed in the name and on behalf of the City to
execute a Financial Advisory Agreement with such firm.
5. The Mayor, the City Manager, the Executive Director, Finance &
Management Services Agency, the City Attorney, the Clerk of the
Council and all other appropriate officials of the City are
hereby authorized and directed to execute such other agreements,
..docu/nents, and certificates as may be necessary to effect the
pur~ose~ of ~his.'resol~tion and the financing herein authorized.
-
6. This Resolution shall take effect upon its adoption by this
Council.
ADOPTED this 1st day of
ATTEST:
COUNCILMEMBERS:
Pulido Ay~
Lutz
Bist
Christy
Franklin Aye
McGuigan Aye
Moreno Aye
February
· 1999.
RESOLUTION NO. 1999-009
CERTIFICATE OF ORIGINALITY
State of California
County of Orange
I, JANICE C. GUY, Clerk of the Council, do hereby certify the attached Resolution No.
/~ ~ - a>a>~ to be the original resolution adopted by the City Council of the City of Santa Ana
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