HomeMy WebLinkAbout22-98
RESOLUTION NO. 22-98
A RESOLUTION of the City Council of the City of Port
Angeles, Washington, authorizing the acquisition of
equipment, a financing contract, and related documen-
tation for said equipment.
WHEREAS, it is deemed necessary and advisable that the City of Port Angeles acquire
the equipment and/or personal property identified in the attached Exhibit "A" ("Property"); and
WHEREAS, the City has undertaken or will undertake to acquire the Property in
accordance with all applicable purchasing statutes and regulations; and
WHEREAS, the City has executed a Notice of Intent to the Office of State Treasurer, in
the form attached hereto as Exhibit "B", for the financing of the Property under the provisions
of Ch 39.94 RCW; and
WHEREAS, the City desires to enter into a Local Government Financing Contract with
the office of the State Treasurer, in the form attached hereto as Exhibit "C", as the method of
payment for the Property.
NOW, THEREFORE, BE IT RESOLVED, that the City Council authorizes the
acquisition of the Property, and hereby empowers the City's Finance Director, Katherine K.
Godbey, (the "Authorized Representative") to execute the Local Government Financing Contract
for the Property; and
BE IT FURTHER RESOLVED, that the Authorized Representative is hereby also
authorized to execute and deliver to the Office of State Treasurer all other documentation in
connection with the financing of the Property, including but not limited to an agreement relating
to initial and ongoing disclosure in connection with the offering of securities related to the Local
Government Financing Contract.
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ADOPTED by the City Council ofthe City of Port Angeles, at a regular meeting thereof
held this 3rd day of November
,1998.
ATTEST:
~co j:i ~,~~.
Gary raun, I yor
.60J1~. Llp::n^-
Becky 1. Up , Cit Clerk
APPROVED AS TO FORM:
w
OCT-28-1988 WED 03:00 PM WA ST TREASUER DEBT MGMT
FAX NO. 3609029045
P. 17
Exhi bit A
.EXHIBIT A-2 No.
FINANCING CONTRACT
EQUIPMENT CERTIFICATE
Name of Local Agency:
AJdl'css:
City of Port Angeles
Box 1150
Port Angeles, WA 98362
The undersigned, [Nameltitle] Kather i ne Godbev. F ioance Oi tF'c:tnr does hereby certify,
th;;.theJshcisanAuthorizedAgencyreprcsentativeof the City of Port Anqeles (tJlc"Local
Agency") pursuanllo the terms of the Fimm:;ing Contract between the Local Agency and the Slate Treasurer, dated
November 3, 1998 .
The undcndgned. confirms that the Personal Property described below has been deiivcred to IUld n:ccived
by the Local Agel1cy. All installation or Other work necessary prior to the use tl1ercuC has been completed, The
PerSOlllll PropL'Ity has been eXlmil1ed and/or tl:sted :md is in gcod operating order and condilicn and iJ in aU re~
SpCClll satisfactof)' to lhe Local Ag~ncy and complies wilh all tenus of the Masler Contract and the Financin8
Contract,
Notwi'thstamling the fon:going, the undcr~igIled docs not waive or limit, by execution of this c:.:rtificate,
!\ny claim against the vendor or any other seller, instl1Jler, contractor or other provider of property or st..'T\iices related
to the purchase, shipment. delivery, installation ormainrenance of the Persollal PrapeL'ty.
The Loc'll Ag~ncy further conC':nns that tbe Personal Property will be u~c:d to fulfill an essential function.
which the Local A~ellcy has the authority to provide in the Slate of Washinglon.
* * * * . * . * . . * . . * * *
l.crsonal Property Information
Description: Fir e P um per
Serial No.:
Payment Amount:
Oi~bUIse to:
Method of
Payment:
Pierrp Mi'lnllfrlrt"rin!]
Box 2017
WI 54913-2017
$287,908
~aml! of Vendor:
Address:
Appleton,
St~ltc Tag :';0,:
Acqui~ition Personal Property
Location:
Check
Att.,hed hereto are~
1. ^ vL:ndor's invoice for the Personal Property approved by the Local Asency,
2. All j "cumbenc)' certificate vcrif}'ing the authority of the AUthOlizcd AGency Rc"presentarivc to siGn this
Certificate.
3. Certificate of LlUU1'anc;e, ~monstmtina; liability insurance ;:ove:ra&c and staling that insurance wilt be renewed.
3nnu~Uy automatically, unle~s saiel officc notifies we State Tr~asurer of any disccnliouation of cover:lge.
Y Otl are hereby requesled to make 3 disbursement a.i indicated abo\'c.
Date:
Authori7..ed Agency Representative
November 3, 1998
Counter~igned and
Approved for Paynlent:
Desi~ted State TreaS\lrer Representative
Date:
14
nF. 10.1} 2 2
...
Exhibit B
Notice of Intent and Application Form
State of Washington LOCAL Program
(Local Option Capital Asset Lending)
(iJ This is a Notice of Intent to Purchase.
D Pre-Qualification.
Local Government Information
Legal Name: Citv of Port Anqeles MCAGNo.:
Contact Person: Kay Godbey Title: Finance Director
Ad~ess: Box 1150, Port Angeles, WA 98362
Phone No: (360) 417-4601FaxNo.: (360) 417-4609 E-mail: Finance@olvpen.com
Would you prefer to receive fmancing documents (check one):
D Hard copy by U.S. mail D MS Word 6.0 by e-mail ~3.5..disk-Word6.0byU.S.mail
PropertylEquipment
Property/Equipment Description: Fir e P um per
Quantity: 1 Cost: $287.908 AmounttoFinance: $230.000
Finance Term: Useful Life: 24 Expected Acceptance Date: Ma y 1999
Purpose of Equipment (Please be soecific and inc1udedept. of use): Will replace 1974 Pumper in the Fire Dept.
Equipment has already been acquired. Equipment cost was paid with D interfund loan Dgeneral funds and will be
reimbursed from program proceeds. DYes D No
If yes, include a copy of the local government's reimbursement resolution with the fmancing documents.
Security Pledge
[K] General obligation oflocal government. D Voted Levy. IX] Not Voted.
D Revenue pledge of an established enterprise system. Local government must include its most recent revenue
bond resolution and the official statement if one is available.
Other Information
Approximate Population:
(not required for cities and counties).
If any of the following apply, please orovide a como1ete discussion on a seoarate 032e:
Does the local government use registered warrants, interfund loans or other cash flow borrowing? DYes D No
Is the local government a party to significant litigation? D Yes D No
Please check the box that applies:
Requested Credit Form is provided: D by disk (Word 6.0) D bye-mail (Word 6.0) D hard copy.
We are not required to submit the Credit Form because the Citv has an A2 ratinq from Moody.s on its
Does local government have a Bond Rating? []Yes Bond Rating(s): A2 DNo General Obligation Bonds
Submitted by: Katheri ne Godbey
Title:
Finance Director
Signature:
Date:
November 3, 1998
023
OCT-28-199S WED 02:59 PM WA ST TREASUER DEBT MGMT
FAX NO. 3609029045
P. 15
EXHIBIT C
FOR."1 OF FINANCJNG CONTRAcr
PERSONALPROPERTY-LOCALAGENCY
State Transaction No.
PltRSONAL PROPERTY
FINANCING CONTRACT
1bis Agreement is between the govcrnm~"tllal org:mizariol1 identiiied in Exhibit .r.. attacilcd hereto, (the "Loea] Agency'')
and the Ofi'j~e of the St3tc Tn::asurcr (the "Stille Treasurer") \lnder authority g!".lntcd by Rcsoiulicn No. 879 of the Sure Finane~
CommIttee of th c Sl!ltc of Washinilton,
WHEREAS, C\aptcr 39.94 RCW, as amended, (the "Act") nuthorizes ~hc S::lIe Treasurer to enter into financing controlC\S
to proviue lo'.\cc costs to L\.lcal A.gcncies (a~ dcfined herein) for equipment ll.CC)uu;i\ion; and
WHEREAS, the State Trcasun:r hall negotiotcd the terms of a MIlliI.:-r fjnancing Contract, dated liS or September 1, 1998
(tno "Mamr Contract") 'A.ith WMhingtM i"in:mcc 0fJi~'l'S Allsodadon, as lessor ("WFOA"). pursuant to which financing will be
llIade ava~labl\.' for the ncqulliition or property by Locai A gcncics over n period of time unoer yenm s::t for.h thl.r~ill; and
WHEREAS. the Coca! Agency dCliirc:s to pa.ticipotc l!l :h~ V1amer Contract [or "he acquisition or certain items of' ~ropcrty;
11' ISTHERliFORE AGREED AS FOLLOWS:
Sccti.lll 7 through Section 24 of this :l~ccmcnt arc atmchrd hereto as exh;bit D and incorporated by this reference hetcin.
Exhibit D also is on file in the office of :he Stare Treasurer and, accordingly, may be dct1'l.:hed fi'om this liVCfllll!nt for convenience
Oflhc pmic~,
Section I. Dcfin~ Temll, t.'nlcss orherwise dd'jn~t in the rceitll1s 10 !his llsrccmCllt, cnoitalilCd terms u.scd in thill
llgrcemcnt hnve the mCllnings gin'l1 such terms in the M~slcr COlltl11tt.
Sc~tior\ 2. 1..':;1S(.' Purchll~e: ~cSlli5ition OT CQ\ljpml:I!t, Th~ Local Agency has dcEvcred a Notice or Intent III
Lease/Purch.l$\; III the form of r.lChibit .1'...1 attached heretQ, In order to evidence WI :lCcepWlCC C!f the: uquipmcnt, the Local Agency
[bus c.(ecutcd ami celivl.'Tcd herewith,) [cxpQCIS to execute and d\.'li,,~r within 60 cays] ;l.~ a::":,ibit A-2, an "Equipment Cenific3tc."
AttachcJ hereto (and incorpotll.:ed herein) as Exhibit i3 is a. copy of the "Certificate: Dcsignatini Authori7.ed l.o~l Agency
Rcprescnti:ltivl.'S" for the Loe~l Agency. Sa.id Ccrtificote is currently in for-c and h3S1i.ol been amended or sup~I'sedcdJ ::md ~he signa-
tures shown therein :u-c tr\lC and corret't copics of tMe sign3turC!! of the persons who hold the tines shQv.n opposite their nllmes. The
signstolt'C of illlY onc of ~he indi\'iduals show" on said Certific:lI.\e is sufficient to bind the Loal A!!,ency under lhill agreement and
with J'eSj)l!lCt to any of !he undcrtnkingll co",templated hcn:in.
Section 3. ~cnQ)' RenT Plus Sllpplcmcnt~1 Rent. Tbe ptlymonls for ^scncy RC;flt:lIe 5C'l fonh in Exhibit C to Lhis 8grce-
mCL11, Upon execution (If tlli; Fln:mcing Contract by the Stllte Treasurer, z. copy of Exhibit C :;ttaH be forward~ to the Locr.l
A~cr'\cy. l'h~ Aicncy Re:1t let forth in f.xhibit C Sh31l be ba.~ed on the prillclpal amcunt r'-"lue.~tcd to be financcd by StIch l.ocaI
A~cllcy in Exhibit A-2. From l1nd tl,ner the dato: of this agreement, the Loe..1 Agency will make eaeh payment of Ag\:nc)' Ren: 011 the
n:spcchve Agency Rent Payment Date to the Smtc Treasurer for d~posjt in a Cltpital Lel!.5e Program Account (#739). The Local
Agene:>, hereby ~kllQwledgc5 Icecjpt of a. eonfo:mcd copy oftbc Master COr,ll'act.
Section 4. prcpl:\}'TT\ent. Upon at h:ast 60 days prior notice to the Stale Treiis.lI'l~r, the Loc-,1! Agency may prepay Agency
RI.:~t and/o!' Agene)' Supplemental Rent to the State Tn:asLlr<:r on any date in an llmount sufficu:nl to defell.se the oblis~tion at the in-
lere~! ~l\!CS applicuble OJ: Ihe time urprep<l)'01cnt, Any prcl"aymcnt of Agency Rellt :llld/or Agcl\C)' Supplemental Rent sh!lll nOl dis-
charge or ch:fcase the Local A!;r.;ncy's obligations IJnd~r this Fimlncing Contract, exceptio the extClll of tho dollar amount paid to the
Sc:.tc TN<lSUrCr
Section 5, ~:l1 Propl:1't, The Stltc Tr;';lI~urer hereby subleOlses to the L~J Agency, and lh= Lacal ^gcnc:y hereby
~!.lblcascs from the State TrCtlliuro;:r, the I'crsond Property in ac~ordlmcc Wilh the provisiot1s of this Finuncins Contrllr.;(, to w:;e for i!s
13wfull'ublic pl.lq)Oscs for the tel'lll hereof, Upon ll;cept!\ncc afthe PerSOlllli Pr()p~'l1Y r.ereur;dcr by the Local Al.lc.:ncy and payment
for ;ul1h pcrsoui Propl.'Tty rl1lrsu:ln~ to Section 2.2 of the Ms.stcr Contract, all righl.$ a.~ sublcssee -....,\h respect to ~he Personal Prop-
erty sranted to the LOCQ.l A~ency by Lhe State Treasurer undcr this Financin~ Col"tracl shall v...'St in the Local Agency, without any
further ~tion on the part of tho Stllte Tre:.surcr. The Local Agency shall nlJI assign or subJe:l!ie ,he use OT possession of any items of
Peni\IJlItl Property or a3liign ~ny of Its ri~hts under tbis Finllncing Conlract to IIny thIrd party,
Section 6. I~J.m. 'rnl; t\,.1'm of this Financing Cl,lntract will commence as of the da1: hereof and con~hu[l through the final
Agency Renl Fa)'ment Datel, D.~ shown on Edlibit C. unless earli\.'l" \crminate~ :15 cxpn:..sly pro\'idl:d for in this Financing Contract.
STATE TRIIA.SU!U::R.
STATE 0.. WASHJ~G"ON
3S LGcal Agcmc)'
0':1__
Dc.:I"~nQted State TU:!isun;r Re!3reiCl1mlivc
Dy
Ti~le
Date
Date
13
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