R94-212RESOLUTION NO. R94-~/~
A RESOLUTION OF THE CITY COM}4ISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING AND DIRECTING THE MAYOR AND
CITY CLERK TO EXECUTE A MASTER LEASE
AGREEMENT BETWEEN THE CITY OF BOYNTON
BEACH AND MUNICIPAL SERVICES GROUP, INC.,
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Police Department replaces a portion of
its fleet on a yearly basis, and the past practice was to
budget a lump sum outright for the purchase of said vehicles;
and
WHEREAS, upon recommendation of staff, it has been
determined that it would be in the best interests of the
citizens and residents of the City of Boynton Beach, Florida
to enter into a Master Lease Agreement for the lease of, and
ultimate purchase of replacement vehicles.
NOW, THEREFORE, BE iT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
~ The Mayor and City Clerk are hereby
authorized to execute a Master Lease Agreement between the
City of Boynton Beach and Municipal Services Group, Inc., a
copy of said Agreement being attached hereto as Exhibit "A".
~ That this Resolution
effective immediately upon passage.
shall become
PASSED AND ADOPTED this ~ day of December, 1994.
CITY OF BOYN~ON BEACH, FLORIDA
ATTEST:
(Corporate Seal)
Authsig.doc
Police.Veh. Purchase
12/t6/94
Municipal Services Group, Inc.
$125 Somh Kiplin$ Parkway
Suite 300
LiKleton, Colorado 80127
City of Boynton Beach
lO0 Eas~ Boynton Beach Blvd.
Boynton Beach, Florida 3:343S
'l'his ~ MunicipM Lease and Open Arreemeflt (the 'A~emf~ ente~ into betwee~t Munlctpnl Se~v~s Group, Inc. (toge~' with any amdgn~e OM~of coibc~ively refe~
as*he 'Lemor~, and Chy of Boymon ri,m,4 C*Lemee'), · municiplity duJy org_nnh,~4 and exis~ unde~ the laws of the S~ of Fb~la
(c) l~ssee is &uthodzed under the Cotn~tut~e and lnw~ of tl'~ Sm~ m en~r into this AIreement. 'n Individual Paymf~ c.4-..~Jes (as ~ ~) ~ ~ ~n
ht, r~/, ~nd to perform ~ of its oblisa~s her~nder.
(d) Lessee has been duly author~md to exet-~e and delJv~ ~his Apuement and each of the Individual Payment q-bduJm under the terms and pmvbiom of the,
octurTed tn o~ler to insure the en~ of thls AlJument, afd Lesme has ~ with meh pub~ biddlng f~l~ents as nmy be ~ m ~ ~ ~ ~ ~
the Equipment he~,under, l.*~u~* shall muse to be e2rA*u~d in o~nlna ~ b coume~ sxdxtanthlly tn tbe fofln at~.-h.d ~0 ~ ~ K
(e) Durinf t~e t~m of this Af~zmm~ the f. quipam~ w~ be used by l~ssee on~ for the [mrpooe of perfonninz oee or more ~overnmental or ~...j~;~-..~y fun~o
consis~ with the permiss~ scope of l~ssee's authorty and w~l not be used in a M or buriness of any person or en~ ~ ~ ~ ~
(0 bch ieme of specific Equtpmf~ oF Un,s) d F~luipment hzn~.~b~ shll be ~ by an Individual hM ~ ~ ~ ~ ~ ~ ~ ~
properlY, and se~nJ forth pmvisiom ~ to the re~ ~he ~eru ~ bssm. dlslmseion o~ Equipment upon the ex~ of ~ m u ~ ~ ~ ~ ~ m ~ The lease t~
Dmin~ the period this Ap----~r is b~ fuene, l,em ml annually provide, if mquesmd by Lessor, torrent finam:hl ~ ~ ~f of ~n fo~
fi~tl year and tach other fbmm:ial infurmat~n mlat~ to the ab~ o~ lamMe m continue thls Ag~emen~ ns may ~ ~ ~ ~ ~ ~ ~ ~
(h} Each Unit o~ F. quipment ~,,~:d under this Alinement will have a usefut life in the hands o~ the ~ ~ b ~ h ~ of ~ ~ Te~ ~
(0 Ali F. quipment subject m this *f~Teement is. and duri~ dm peYiod this As~mnfmt b in force shall rumin pes~oMl pmlMtm/.
0) Th~s APuemmlt nPPHes ~o ail kerns d i:mnnml ProPertY an~imd, or to be ncquired, bY L~mee as evMem:ed bY ~ ~ ~ ~ hM ~ ~
as may be mq~d~d m fui~l Lesme~ equ~ ,~,~
~2~:~e o~ AccepMnce' ~,~M the Certifl~ of ~ maehed hereto as Ezh~it F relatin~ m the apsd~uble 1Jnit(s) ~' Faluipmeut whefl~y Lessee acknowJedles re. tx old
Co~ht 19~0 Munk~pal ~ Group, tn~
to he.in
s of Lessee
· eodl Unit
da~e ~ t:be
~7
· lnlJ TO I~, P{XIF~. (Ir A~
an event of dL~auJt m let Jon:h h ~ 13.01 M' noa ~,,~dtion m mt fon:h tn ~',rb~ 6.06, ot ~ ~ ~ ~ ~ i b ~ s ~ ~ ~s ~ ~
~) ~ (~), Lffme shah M M Mine mmm pommm~ ~m Equipmfnt m t~smr.
Section 7.02. prowe' of Att~. To fa(:illt~e any s~-h trander of 0tie as provided in Section 7.01 above, Lessee a~nBes m ~rd~2 and ~lfver to ~, m
Sec~n 8.0L Maimeflance of F,q~ipment b~ Lmsee. bmssee a&,~es that K aH t~Ms duJ~n8 the ~ Term~ at benee's own cost and expenme, to cause ~ m 1
.sw~ a way .so as ~o .make mJI .nectar...md ~p~et repaY1, replaeem~.?m and ~ o~ such compone~ ~ ~ ~ ~ ~ to ~ ~ ~ ~ m ~ ~e ~~
m good repiw, work~g onJer md coudJfloe. To Om extent of ttm provkions ot this A~fl'dq~Mf and except as may otbe~viM be m~.eecl ~o, nl~theT ~ ~r ~ ~y of b ~ $~ h.
in any of these mat~FJ, Or for ~he maJ~ o( improvements or addtl~ns m the Equ~p~
.S~n. 8.02. Tazest O~er G~v~_ ntal Cbm'Xes and ~t]'~ C~ The pm~es to this Ag~eaMut eontemphro that the Equipnmnt w0] be umKI for a sovernmental ot Im)l
F-~,,,~uL. ut is found m ~e sub;je~ ~o taxation in any fora (excelx for income tax~ M' Ldnmor), bsme will pay du~nI tim IJ~se Tenn. as the same respectively conm due, all us~s an
m & nmewal or repb,~-~.~' M, or a nm~n~m~ tmlm~vement or Mdifion m dm Eqmpmen~ provMed ~hM, Mth respect to ~ ~ c~ ~ ~ ~ ~ ~ ~ ~
·om msualty _ .l~ms shall be ps, sbic m bex,~na,~n' provided ~n this Ag~eme~t. [~see dudl furnbh m l~m~ ~,q evidencing su~ em, emge th~ughout the l~aM Term and for
t.e~ee shall nm~ Les~m' ~ldn five (~ Ires/nero days M' any evem of dmnage to or de~tr~'tion o~ the Equi~
The te~m 'Full Insural~ Value' as umi ~ shall n~an the full mpbeement value of tM Equiimem.
Prc~m~ ~a~ defMd in _ __~.~m_' 9.01) d d~e imurance nKluimi in this Section 8.03 shall be applied m ~ ~ ~ 9 ~fo ~ch insurnnce policy pm~led f~ in this Seet~n
~Seet~n 141 (&) oftl~ Code. To th~end, solong many Rental Paymems are m~M, the tmse~ w~th resq~et msm:hptoe~ds andsueho~e~ ~ ~p~ ~ ~
al~ imtmmnt m Sec~xI 148 (0 of ~be CMM, Lemee e~venanes ~o complete ~- came m be ~p~ ~ ~ ~ ~ ~ ~ ~ ~ m ~ U~ ~ ~ ~
m.~t~l of SecCJoa 14] (b) 01r dm CAdl. h tach mmmm. or m such extent m wo~d remdt in th~ ~IW M W ~ ~ h p W ~ f~ ~ ~~
103 of dm C,~Je.
The Leslor and the Ldulm d~n it adi times do and perform ail Kts and thinp pen31Wed by b ~ m ~ or ~ h ~ m n ~ ~ W ~
Payme~s wi]! n(x be inchdM b dm pues m o~ the Lmsor for fedend lncam mi INnlX~MS,
dual be petd ~o L~see.
au ezpemms (hr. ludi~ -~.-ue~ kel) beurud in ctm co___ae~_', of such claim or mwa~L
Se~ou P.02..'---~nt~ o~ Net Pr~.eeds. Sul~ to the Lfume's ri~K to ter~,i~,, thb J~ or nny ln(Ltviduai I)wment Schedule uder Sec1~n 6.~ ~ ~ fl
m~
m lmmymm
£ of the Rd~tal
nM dmnnin
nt o~ Mm~d
Om) Tale ~dmm~r aet~ at Isn~ e~ ks ~dty may aplmsr m e~ aes~al~ to encee Ia rtglm as ~e tms~ ~ ~ ~
~mm t~mmmt mw.-- mhd m o~m m mmv, I~ dmmmmM ~pmdhmt.
red,mn.
t t~ t~[di~
LESSEE: City of Boynton Beach
Attest:
LESSOR: Municipal Services Group, Inc.
EXltlIMT A
LESSEE: City of Boynwn Beach
At a duly oiled meeting of the governing body of I~ssce held o~ the day of , 19 , the following resc
introduced and adopted.
RESOLVED, whereas the governing body of Lessee has determined that a true and very real need exists for the acquisition of the Equipmen
in the Individual Payment Schedule No. i and/or the Master Municipal Lease and Option Agreement No. 1091 (the 'Agreement*) presented to ~
WHEREAS, the governing body of Lessee has taken the necessary step~, including any legal bidding requirements, under applicable law ro
the acquisition of such Equipment,
WHEREAS, the governing body hereby directs its legal counsel to review the Agreemen[ and negotiate appropriate modifications to said Al
as to assure compliance with stale law and local statutory law, prior to execution of the agreement by those persons so authorized by the gov
for such purpose,
BE IT RESOLVED, by the governing body of Lessee that:
Finding: Authorized Officet~. The terms of said Agreement are in the best interests of l~s~ee for the acquisition of such Equipment, and th~
body of l.~ssee deSignateS and confirms the following persons to execute and deliver, and to wimess (or attest), respectively, the Agreement and
documents necessary to the consummation of the transactions contemplated by the Agreement. .
~LVED, the:acquisition of the Equipment, under the terms and conditions provided for in the Agreement, is necessary, convenient, in the I
of, and will at all times be used in connection with~ the Lessee's governmental and proprietary purlx~es and funclions (except to the extent thai
of the Equipment is ~itted under terras of the Agreement) and are in the best intere~ of the ~ and no portion of. th.e. Equipment ~
directly or indirectly in any trade or busine~ carried on by any person other than a governmental umt of the State on a basis different from
RESOLVED, the Levee covenants that it will perform all acts within its power which are or may be nece~ry to insure the maintenance of its
as being a duly organized and exisling entity under the law~ of the State, which statu~ is the ba~ for the interest lXa'tion of the Rental Paym~
due under the Agreement to at all times remain exempt from federal income taxation under the la~ and regulations of the United States
as: presently enacted and cons~'ued or as hereafter amended.
OUme of Pafly to l~amu~e
Ohme o~ F'as~ m ~ or
Wi, n~s Munkq, d ,-.--. & ol,6ou
Full Force and Effect. The undersigned further certifies that the above resolulion has not been repealed or amended and remains in full foro
and further certifieS that the above and foregoing Aip'eemnent is the same as presented at said meeting of the governing bedy of Lessee,
utio~ was
des~]~ed
s meeting;,
rrange for
een~nt so
~ing body
governing
~ny r~4ated
subleasing
ill be used
he general
~tscoming
America
Board Seerem~/C~rk
l~mmlT c
i, the undeni~ned officer of City orr Boynton Beach (the ~see~) being the pe~on duly charged, with other~, with re~pomibility of
Lesaee's obligation in the form of that certain ag~ement entitled ~unicipal Lea~ and Option Agreement~ (the "Agreement~) numbered 1091
~id date HEREBY Ci~TIFY thac
1. The Agreement waz issued by the T~,see under and pursuant to existing law to finance the acquisition of the certain Equipme
the~in.
2. Pursuant to the Agreement, the Lessee i~ e~titied to receive said Equipment in consideration for the obligation of the ~
A~reement. Said Equipment will be used in furtherance of the public purposes of the l~s~e. The Lessee doe~ not intend to sell said Equipn
Agreement or to otherwise dispose of said Equipment during the term of the Agreement. The l,~v~e will not receive any monie~, func
'~c~x~is' az a result of the Asreement.
3. The Levee expects to make payments under the Agreement from its general funds on the basis of annual appropriations in am.
to the required payments under the Agreement. The remaining general funds of the Lessee are not reasonably expected to be used to make suc
and no other monie~ are pledged to the Agreement or reasonably expected to be used to pay principal and inter~t on the Agreement.
4. The Levee has not received notice that its Certificate may not be relied upon with respect to its own issues nor has it been
any adverse action by the Commissioner of Internal Revenue is contemplated.
S. The Lem~ certifies that the Property (az defined in the Agreemen0 is or will be owned and operated by the Lessee and will
in the trade or busine~ of any peraon on a basis different from the general public.
To the be~t of my knowledge, information and belief the expectatiom herein expres~cl are reasonable and there are no facts,
circumstance~ other than these expressed herein that would materially affect the expectatiom herein expressed.
IN WITNESS :WHEREOF, I have hereunto set my hand this
day of , 19
LF. SSEE: City of Bolmton Beach
under
~nt or said
or other
vised that
ot be reed
;timate~ or
EXHIBIT E
SCHEDULE OF PAYMENTS
DATED DATE: Nov 08, 1994
CITY OF
PMT
BOYNTON BEACH
PAYMENT
DATE
PRINCIPAL INTEREST PURCHASE
PAYMENT PORTION PORTION PRICE
8 - Nov-95 41,219.09 '31,872.63 9,346.46 111,309.97
8 - Nov-96 41,219.09 33,988.98 7,230.12 76,157.28
8 - Nov-97 41,219.09 36,245.84 4,973.25 39,088.76
8 - Nov-98 41,219.09 38,652.55 2,566.54 0.00
TOTAL
164,876.37
140,760.00
24,116.37
LESSEE: CITY
BY:
TITLE:
OF BOYNTON BEACH
· OilBIT g
S~DULE QF PAYMENTS
Ba~e lntet~t Rate:
U. S. Tre~ury Note Yield: 7..58~
U. S. Treasury Note Index Petre~t:
Adjusted Base lnte~st Rate:
Dated Date: November 8, 1994
Provided all dOCUments have been returned in a form acceptable to Le~or within thirty (30) days of the Dated Date (the ~Period~), then the Ba
Rate can: remain in effect durin~ the Period. In the event all documents have nm been returned within the Period, in a form aecel~able to Les~
if the U. S, Treasury Note Yield for a maturity comparable to the t,a~e Term increases significantly, the Lesaor reserves the right to adju~ and
a new Base Interest Rate (the 'Adjusted Ba~e Interest Rate~) pursuant to the provisions hereof. The Adjusted Base Interest Rate shall be dete
multiplying the U. S. Treasury Note Y~eld for a maturity comparable to the T,-a~ Term (as of the busine~ day immediately preceding the rec
documents by the Lessor) by the U. S. Treasury Note Index Percent. Such Adjusted Base Intet~t Rate shall be the applicable interest rate for th
balance o~ the Equipment which is the subject of this Individual Payment Schedule, and the Lessor and the Lessee shall execute a revival ~:
~ Individual Payment Schedule to acknowledge such change.
Title:
~2~2
Interest
and/or
hibit E to
Municipal Service~ Caoup, Inc.
5125 Sa~th Kiplin$ Parkway
Suite 300
Littleton, Colorado, 80127
FROM:
City of Boynton Bea~
100 Ea~ l~mton Beach Blvd.
Boynton ~each, Florida 3343S
SUILTECT:INSURANCE COVERAGE REQUIREMEN'I~
1. In accordance with Section 8.03 of the Master Municipal l~ase and Option Agreement No. 1091, we have instructed
agent named below (please fill in name, address, and telephone number}
to issue:
a. All Risk Physical Damage Insurance on the leased Equipment of Unit thereof (as defined in the Agreement) evidenced by a
of Insurance and Long Form ~ l~/aMe C~ame namin~ Lm~r 'and/or i~ a:~dgn~ h~ Payee.
OR
b. Public Liability Insurance evidence by a Certificate of Insurance naming "Lemor and/or i~ assigns" as an Additional Ins~
Minimum Coverage Required:
$S00,000.00 per pe~on
$S00,000.00 aggregate bodily injury liability
$300,000.00 property damage liability
2. Pursuant to Seclion 8.03 of the Agreement, we ate ~lf-insured for ali risk, physical damage, and public liability and
proof of such self-irma-ance ia letter form to~ether with a copy of the ~tatute authorizing this form of insurance.
3. Proof of la.trance coverage will be provided to Lmaor prior to the time that the Equipment or Unit thereof is delivere
vii
No. 10~1
insurance
m pro,de
THIS SMALL ISSUER EXEMPTION CERTIFICATE is enuu-ed into this
as {ennee, supp{ementing and add{n{ to {~-ane and Ol~ion A~t No. 1091.
day of
, 1994 and executed by City of B~
WHEREAS, the ~ and the Lessee have entered ins a Municipal l~.n~- and Option Agreement No. 1091; and
WHEREAS, the l~ee desires to supplement the Agreement;
NOW THEREFORE, in consideration of the premises hereinafter contained, the parries hereto agree to supplement the Agreement as follow
The Iz~ssee has not issued or effected the issuance of, and reasonably anticipates that it shall not issue or effect the issuance of, mo
Million Doilar~ ($S,000,000.00) of mx-exempt bonds {other than private activity bonds) (such mnns being within the meaning of ~
(0(4)(C:) of the Internal Revenue Code of 1986, a~ amended), during the 1994 calendar year.
In wime~ whereof, the Lessee has caused this Supplement to the Agreement to be executed by i~s respective officers thereunto duly author
of the date and year first above written.
LESSEE: City of Boynton Beach
Tide: