R16-050 1 RESOLUTION NO. R16 -050
2
3
4 A RESOLUTION OF THE CITY OF BOYNTON BEACH,
5 FLORIDA, AUTHORIZING AND DIRECTING THE CITY
6 MANAGER SIGN A LEASE PURCHASE AGREEMENT
7 AND ALL OTHER REQUIRED DOCUMENTS WITH
8 MUNICIPAL ASSET MANAGEMENT, INC. THROUGH
9 TASER INTERNATIONAL, INC., FOR THE PURCHASE
10 OF 120 X26P "SMART TASERS "; AND PROVIDING AN
11 EFFECTIVE DATE.
12
13
14 WHEREAS, the Police Department is in need of replacing its current X26 Tasers
15 which are being phased out and are no longer being repaired or replaced; and
16 WHEREAS, Taser International is offering special pricing by entering into the five
17 (5) year purchase plan and is allowing the City a trade in discount for the 104 current Tasers;
18 and
19 WHEREAS,this purchase will allow the Police Department to upgrade all current
20 Tasers at once and increase the number of tasers which would be for officers that currently are
21 not issued tasers; and
22 WHEREAS, staff has recommended that the City Commission approve a five (5) year
23 Lease Purchase Agreement with Municipal Asset Management, Inc., for the purchase of 120
24 X26p "Smart Tasers" from TASER International, Inc., with yearly payments of $23,821.03
25 per year for a total of $119,105.15 over the five (5) year period.
26 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
27 THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
28 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
29 being true and correct and are hereby made a specific part of this Resolution upon adoption
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30 hereof.
31 Section 2. The City Commission of the City of Boynton Beach, Florida, hereby
32 authorizes and directs the City Manager to sign the five (5) year Lease Purchase Agreement and
33 any other required documents associated with the purchase with Municipal Asset Management,
34 Inc:, for the purchase of 120 X26p "Smart Tasers" from TASER International, Inc., with yearly
35 payments of $23,821.03 per year for a total of $119,105.15 over the five year period, a copy of
36 said Lease Purchase Agreement is attached hereto as Exhibit "A ".
37 Section 3. This Resolution shall become effective immediately upon passage.
38 PASSED AND ADOPTED this 5th day of April, 2016.
39
40 CITY OF BOYNTON BEACH, FLORIDA
41
42 YES NO
43 Mayor — Steven B. Grant
44
45 Commissioner— Justin Katz
46
47 Commissioner — Mack McCray
48
49 Commissioner — Christina L. Romelus
50 .
51 Commissioner — Joe Casello
52
53
54 VOTE
55 ATTEST:
56
57 -
59 ydith A. Pyle, CMC rM ° ` �.
60 ✓Interim City Clerk "
62 klt, e .,
64 (Corporate Seal)
65
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Tax - Exempt Lease Purchase Agreement, Dated April 5, 2016
Accepted by Lessor:
Municipal Asset Management, Inc.
25288 Foothills Drive North
Golden, CO 0401
B:
Name: Paul E. Collings
Title: President
Date:
AGREEMENT: Lessor hereby leases to Lessee and Lessee hereby rents from Lessor all the Property described in Property Schedule incorporated herein
by reference, upon the terms and conditions set forth herein and as supplemented by the terms and conditions set forth in the Property Schedule. This
Tax - Exempt Lease Purchase Agreement together with the Property Schedule shall be defined as the Agreement.
LEASE TERM: The Lease Term of the Property listed in the Property Schedule shall commence upon the date of acceptance of the Property by Lessee
and continue for the time period set forth in the Property Schedule. This Agreement cannot be canceled or terminated by Lessee except as expressly
provided herein. This Agreement is a triple net lease.
LEASE PAYMENTS: Lessee shall pay rent to Lessor for the Property in the amounts, and on the dates specified, in the Property Schedule. Lessor and
Lessee intend that the obligation of Lessee to pay Lease Payments hereunder shall not in any way be construed to be a debt of Lessee in contravention of
any applicable constitutional or statutory limitations or requirements concerning the creation of indebtedness by Lessee, nor shall anything contained
herein constitute a pledge of the general tax revenues, funds or monies of Lessee.
NO OFFSET: SUBJECT TO THE RIGHT TO NON - APPROPRIATE, THE OBLIGATIONS OF LESSEE TO PAY THE LEASE PAYMENTS DUE UNDER THE
PROPERTY SCHEDULE AND TO PERFORM AND OBSERVE THE OTHER COVENANTS AND AGREEMENTS CONTAINED IN THIS AGREEMENT
SHALL BE ABSOLUTE AND UNCONDITIONAL IN ALL EVENTS WITHOUT ABATEMENT, DIMINUTION, DEDUCTION, SET -OFF OR DEFENSE, FOR
ANY REASON, INCLUDING WITHOUT LIMITATION, ANY DEFECTS, MALFUNCTIONS, BREAKDOWNS OR INFIRMITIES IN THE PROPERTY OR ANY
ACCIDENT, CONDEMNATION OR UNFORESEEN CIRCUMSTANCES. THIS PROVISION SHALL NOT LIMIT LESSEE'S RIGHTS OR ACTIONS AGAINST
ANY VENDOR. Lessee shall pay when due all taxes and governmental charges assessed or levied against or with respect to the Property.
LATE CHARGES: Any unpaid Lease Payment or other amount payable by Lessee to the Lessor hereunder, shall bear interest at the lesser of (a) the rate
payable on the principal portion of the Purchase Price, plus five full percentage points per annum, or (b) the maximum rate allowed by law.
MAINTENANCE OF PROPERTY: At all times during the Lease Term, Lessee shall, at Lessee's own cost and expense, maintain, preserve, and keep the
Property in good working order, and condition, and from time to time make or cause to be made all necessary and proper repairs, replacements, and
renewals to the Property, which shall become part of the Property. The Property is and will remain personal property.
INSURANCE OF PROPERTY: All risk of loss to the Property shall be borne by the Lessee. At all times during the Lease Term, Lessee shall, at Lessee's
own cost and expense, cause casualty, public liability, and property damage insurance to be carried and maintained (or shall provide Lessor with a
certificate stating that adequate self- insurance has been provided) with respect to the Property, sufficient to protect the full replacement value of the
Property and to protect from liability in all events for which insurance is customarily available. Lessee shall furnish to Lessor certificates evidencing such
coverage throughout the Lease Term. Any insurance policy to be carried and maintained pursuant to this Agreement shall be so written or endorsed as to
make losses, if any, payable to Lessee and Lessor as their respective interests may appear. All such liability insurance shall name Lessor as an additional
insured. Each insurance policy carried and maintained pursuant to this Agreement shall contain a provision to the effect that the insurance company shall
not cancel the policy or modify it materially or adversely to the interest of the Lessor without first giving written notice thereof to Lessor at least 30 days in
advance of such change of status.
QUIET ENJOYMENT AND TERMINATION OF LESSOR'S INTEREST: To secure Lessee's obligations hereunder, Lessor is granted a security interest in
the Property, including substitutions, repairs, replacements and renewals, and the proceeds thereof, which is a first lien thereon. Lessee hereby authorizes
Lessor to file all financing statements which Lessor deems necessary or appropriate to establish, maintain and perfect such security interest. Provided
there does not exist an Event of Default as defined herein, the Lessee shall have the right of quiet enjoyment of the Property throughout the Lease Term, If
Lessee shall have performed all of its obligations and no default shall have occurred and be continuing under this Agreement, and this Agreement shall not
have been earlier terminated with respect to the Property, then, at the end of the Lease Term with respect to any item of Property, Lessor's interest in such
Property shall terminate. Unless otherwise required by law, title to the Property shall be in the name of Lessee, subject to Lessor's interest hereunder.
TAX EXEMPTION: The parties contemplate that interest payable under this Agreement will be excluded from gross income for federal income tax
purposes under Section 103 of the Internal Revenue Code of 1986, as amended (the "Code "). The tax - exempt status of this Agreement provides the
inducement for the Lessor to offer financing at the interest rate set forth herein. Therefore, should this Agreement be deemed by any taxing authority not to
be exempt from taxation, Lessee agrees that the interest rate shall be adjusted, as of the date of loss of tax exemption, to an interest rate calculated to
provide Lessor or its assignee an after tax yield equivalent to the tax exempt rate and Lessor shall notify Lessee of the taxable rate. Provided, however,
that the provision of the preceding sentence shall apply only upon a final determination that the interest payments are not excludable from gross income
under Section 103(a) of the Code, and shall not apply if the determination is based upon the individual tax circumstances of the Lessor, or a finding that
the party seeking to exclude such payments from gross income is not the owner and holder of the obligation under the Code.
REPRESENTATIONS AND WARRANTIES OF LESSEE: Lessee hereby represents and warrants to Lessor that: (a) Lessee is a State, possession of the
United States, the District of Columbia, or political subdivision thereof as defined in Section 103 of the Code and Treasury Regulations and Rulings related
thereto. If Lessee is incorporated, it is duly organized and existing under the Constitution and laws of its jurisdiction of incorporation and will do or cause to
be done all things necessary to preserve and keep such organization and existence in full force and effect. (b) Lessee has been duly authorized by the
Constitution and laws of the applicable jurisdiction and by a resolution of its governing body (which resolution, if requested by Lessor, is attached hereto),
to execute and deliver this Agreement and to carry out its obligations hereunder. (c) All legal requirements have been met, and procedures have been
followed, including public bidding, in order to ensure the enforceability of this Agreement. (d) The Property will be used by Lessee only for essential
governmental or proprietary functions of Lessee consistent with the scope of Lessee's authority and will not be used in a trade or business of any person
or entity, by the federal government or for any personal, family or household use. Lessee's need for the Property is not expected to diminish during the
term of the Agreement. (e) Lessee has funds available to pay Lease Payments until the end of its current appropriation period, and it intends to request
funds to make Lease Payments in each appropriation period, from now until the end of the term of this Agreement. (f) The Lessee shall comply at all times
with all applicable requirements of the Code, including but not limited to the registration and reporting requirements of Section 149, to maintain the federal
tax - exempt status of the Agreement. The Lessee shall maintain a system with respect to this Agreement, which tracks the name, and ownership interest of
each assignee who has both the responsibility for administration of, and ownership interest in this Agreement. (g) Lessee's exact legal name is as set forth
on the first page of this Agreement. Lessee will not change its legal name in any respect without giving thirty (30) days prior written notice to Lessor.
INDEMNIFICATION OF LESSOR: To the extent permitted by law, Lessee shall indemnify and save Lessor harmless from and against all claims, losses,
costs, expenses, liability and damages, including legal fees and expenses, arising out of (a) the use, maintenance, condition or management of, the
Property by Lessee, (b) any breach or default on the part of Lessee in the performance of any of its obligations under this Agreement or any other
agreement made and entered in connection with the lease of the Property, (c) any act of negligence of Lessee, or its successors or assigns, or any of its
agents, contractors, servants, employees, or licensees with respect to the Property, (d) the acquisition, delivery, and acceptance of the Property, (e) the
actions of any other party including, but not limited to, the ownership, operation, or use of the Property by Lessee, or (f) Lessor's exercise and performance
of its powers and duties hereunder. No indemnification will be made for negligence or breach of duty under this Agreement by Lessor, its directors,
officers, agents, employees, successors, or assignees. Lessee's obligations under this Section shall remain valid and binding notwithstanding termination
or assignment of this Agreement.
NON - APPROPRIATION: If sufficient funds are not appropriated to make Lease Payments under this Agreement, this Agreement shall terminate and
Lessee shall not be obligated to make Lease Payments under this Agreement beyond the then current fiscal year for which funds have been appropriated.
Upon such an event, Lessee shall, no later than the end of the fiscal year for which Lease Payments have been appropriated, deliver possession of the
Property to Lessor. If Lessee fails to deliver possession of the Property to Lessor, the termination shall nevertheless be effective but Lessee shall be
responsible for the payment of damages in an amount equal to the portion of Lease Payments thereafter coming due that is attributable to the number of
days after the termination during which the Lessee fails to deliver possession and for any other loss suffered by Lessor as a result of Lessee's failure to
deliver possession as required. Lessee shall notify Lessor in writing within seven (7) days after the failure of the Lessee to appropriate funds sufficient for
the payment of the Lease Payments, but failure to provide such notice shall not operate to extend the Lease Term or result in any liability to Lessee.
ASSIGNMENT BY LESSEE: Without Lessor's prior written consent, Lessee may not, by operation of law or otherwise, assign, transfer, pledge,
hypothecate or otherwise dispose of the Property, this Agreement or any interest therein.
ASSIGNMENT BY LESSOR: Lessor may assign, sell or encumber all or any part of this Agreement, the Lease Payments and any other rights or interests
of Lessor hereunder. Such assignees may include trust agents for the benefit of holders of certificates of participation.
EVENTS OF DEFAULT: Lessee shall be in default under this Agreement upon the occurrence of any of the following events or conditions ( "Events of
Default "), unless such Event of Default shall have been specifically waived by Lessor in writing: (a) Default by Lessee in payment of any Lease Payment or
any other indebtedness or obligation now or hereafter owed by Lessee to Lessor under this Agreement or in the performance of any obligation, covenant
or liability contained in this Agreement and the continuance of such default for ten (10) consecutive days after written notice thereof by Lessor to Lessee,
or (b) any warranty, representation or statement made or furnished to Lessor by or on behalf of Lessee proves to have been false in any material respect
when made or furnished, or (c) actual or attempted sale, lease or encumbrance of any of the Property, or the making of any levy, seizure or attachment
thereof or thereon, or (d) dissolution, termination of existence, discontinuance of the Lessee, insolvency, business failure, failure to pay debts as they
mature, or appointment of a receiver of any part of the property of, or assignment for the benefit of creditors by the Lessee, or the commencement of any
proceedings under any bankruptcy, reorganization or arrangement laws by or against the Lessee.
REMEDIES OF LESSOR: Upon the occurrence of any Event of Default and at any time thereafter, Lessor may, without any further notice, exercise one or
more of the following remedies as Lessor in its sole discretion shall elect: (a) terminate the Agreement and all of Lessee's rights hereunder as to any or all
items of Property; (b) proceed by appropriate court action to personally, or by its agents, take possession from Lessee of any or all items of Property
wherever found and for this purpose enter upon Lessee's premises where any item of Property is located and remove such item of Property free from all
claims of any nature whatsoever by Lessee and Lessor may thereafter dispose of the Property; provided, however, that any proceeds from the disposition
of the Property in excess of the sum required to (i) pay to Lessor an amount equal to the total unpaid principal component of Lease Payments under the
Property Schedule, including principal component not otherwise due until future fiscal years, (ii) pay any other amounts then due under the Property
Schedule and this Agreement, and (iii) pay Lessor's costs and expenses associated with the disposition of the Property and the Event of Default (including
attorneys fees), shall be paid to Lessee or such other creditor of Lessee as may be entitled thereto, and further provided that no deficiency shall be
allowed against Lessee; (c) proceed by appropriate court action or actions to enforce performance by Lessee of its obligations hereunder or to recover
damages for the breach hereof or pursue any other remedy available to Lessor at law or in equity or otherwise; (d) declare all unpaid Lease Payments and
other sums payable hereunder during the current fiscal year of the Lease Term to be immediately due and payable without any presentment, demand or
protest and / or take any and all actions to which Lessor shall be entitled under applicable law. No right or remedy herein conferred upon or reserved to
Lessor is exclusive of any right or remedy herein or at law or in equity or otherwise provided or permitted, but each shall be cumulative of every other right
or remedy given hereunder or now or hereafter existing at law or in equity or by statute or otherwise, and may be enforced concurrently therewith or from
time to time. Lessee agrees to pay to Lessor or reimburse Lessor for, in addition to all other amounts due hereunder, all of Lessor's costs of collection,
including reasonable attorney fees, whether or not suit or action is filed thereon. Lessee and Lessor hereby irrevocably waive all right to trial by jury in any
action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Agreement.
NOTICES: All notices, and other communications provided for herein shall be deemed given when delivered or mailed by certified mail, postage prepaid,
addressed to Lessor or Lessee at their respective addresses set forth herein or such other addresses as either of the parties hereto may designate in
writing to the other from time to time for such purpose.
AMENDMENTS AND WAIVERS: This Agreement and the Property Schedule executed by Lessor and Lessee constitute the entire agreement between
Lessor and Lessee with respect to the Property and this Agreement may not be amended except in writing signed by both parties.
CONSTRUCTION: This Agreement shall be governed by and construed in accordance with the laws of the Lessee's State. Titles of sections of this
Agreement are for convenience only and shall not define or limit the terms or provisions hereof. Time is of the essence under this Agreement. This
Agreement shall inure to the benefit of and shall be binding upon Lessor and Lessee and their respective successors and assigns. This Agreement may be
simultaneously executed in counterparts, each shall be an original with all being the same instrument.
Addendum to Tax - Exempt Lease Purchase Agreement
Florida Counties, Municipalities and School Districts
THIS ADDENDUM, which is entered into as of April 5, 2016 between Municipal Asset Management, Inc. ( "Lessor") and City of Boynton Beach,
Florida ( "Lessee "), is intended to modify and supplement the Tax- Exempt Lease Purchase Agreement between Lessor and Lessee of even date herewith (the
"Agreement "). Capitalized terms not otherwse defined herein shall have the meanings set forth in the Agreement.
The Agreement is hereby amended as set forth below whether the Lessee is a county, municipality or school district:
A. The section entitled "LEASE PAYMENTS" is amended by the addition of the following to the end of said section: "Lessor acknowledges
that in no event may it compel the use of ad valorem taxing power to compel Lessee to pay Rental Payments or other payment obligations under this Agreement.
B. The Section entitled "QUIET ENJOYMENT AND TERMINATION OF LESSOR'S INTEREST' is amended to read as follows:
QUIET ENJOYMENT AND TERMINATION OF LESSOR'S INTEREST: The Lessee shall have the right of quiet enjoyment of the Property throughout the Lease Term. If
Lessee shall have performed all of its obligations and no default shall have occurred and be continuing under this Lease, and this Lease shall not have been earlier
terminated with respect to the Property, then, at the end of the Lease Term with respect to any item of Property, Lessor's interest in such Property shall terminate. Unless
otherwise required by law, title to the Property shall be in the name of Lessee, subject to Lessor's interest hereunder.
C. The section entitled "REMEDIES OF LESSOR" is amended to read as follows:
REMEDIES OF LESSOR: Upon the occurrence of any Event of Default and at any time thereafter, Lessor may, without any further notice, exercise one or more of the
following remedies as Lessor in its sole discretion shall elect: (a) terminate the Agreement and all of Lessee's rights hereunder as to any or all items of Property; (b)
require Lessee, at Lessee's expense, to promptly return any or all of the Property to the possession of Lessor at such place within the United States as Lessor shall
specify, and Lessor may thereafter dispose of the Property; provided, however, that any proceeds from the disposition of the property in excess of the sum required to (i)
pay to Lessor an amount equal to the total unpaid principal component of Rental Payments under the Property Schedule, including principal component not otherwise due
until future fiscal years, (ii) pay any other amounts then due under the Property Schedule, and (iii) pay Lessor's costs and expenses associated with the disposition of the
Property (including attorneys fees), shall be paid to Lessee or such other creditor of Lessee as may be entitled thereto, and further provided that no deficiency shall be
allowed against Lessee; (c) proceed by appropriate court action or actions to enforce performance by Lessee of its obligations hereunder or to recover damages for the
breach hereof or pursue any other remedy available to Lessor at law or in equity or otherwise; (d) declare all unpaid Lease Payments and other sums payable hereunder
during the current fiscal year of the Lease Term to be immediately due and payable without any presentment, demand or protest and/or take any and all actions to which
Lessor shall be entitled under applicable law. No right or remedy herein conferred upon or reserved to Lessor is exclusive of any right or remedy herein or at law or in
equity or otherwise provided or permitted, but each shall be cumulative of every other right or remedy given hereunder or now or hereafter existing at law or in equity or by
statute or otherwise, and may be enforced concurrently therewith or from time to time. Lessee agrees to pay to Lessor or reimburse Lessor for, in addition to all other
amounts due hereunder, all of Lessor's costs of collection, including reasonable attorney fees, whether or not suit or action is filed thereon. Lessee and Lessor hereby
irrevocably waive all right to trial by jury in any action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this
Agreement. Following an Event of Default or a Non - Appropriation hereunder and upon failure of Lessee to voluntarily comply with the requirements hereunder to return
possession to Lessor, Lessor may take any action, at law, that is permitted by applicable law and that may appear necessary or desirable to enforce or to protect any of
its rights under the Property Schedule and this Agreement against Lessee's legally available funds. Lessor and Lessee agree that there is no intention to create under
this Agreement and the applicable Property Schedules a right of Lessor to dispossess Lessee involuntarily of the legal title to or the right of use of the Property. Lessor
hereby irrevocably waives any right to specific performance of Lessee's covenant to transfer legal title to and return of possession of the Property to Lessor.
The Agreement is further hereby amended as set forth below depending whether the Lessee is a county, municipality or school district:
I. Additional terms applicable to counties:
A. If the term of the Property Schedule under the Agreement exceeds 5 years, Lessee further represents and covenants that the Rental
Payments are payable from sources other than ad valorem taxes.
B. Lessee further represents, covenants and warrants with respect to the Property Schedule that it has been, or Wil be prior to its effective
date, approved by the governing board of Lessee.
Additional terms applicable to municipalities:
A. Lessee represents, covenants and warrants that the charter of the Lessee permits the lease/purchasing of the Property under the
Agreement.
III. Additional terms applicable to school districts:
A. The opinion of counsel in substantially the form attached to the form of the Property Schedule as Exhibit 2 shall be provided by a law
firm listed in The Bond Buyer's Municipal Marketplace (the "Red Book ") under the Florida section of Municipal Bond Attorneys.
IN WITNESS WHEREOF, Lessor and Lessee have caused this Addendum to be executed in their names by their duly authorized representatives
as of the date first above written.
Lessor: " icipcll Asset MariMpment, Inc.
B:
Name: Paul E. Collins —
Title: President
Lessee: City of Boynton Beach, Florida
B:
Name: Lori LaVerriere
Title: City Manager
Attest:
B
Name: 6
Title: r lr& r '�
Property Schedule 1 to Tax - Exempt Lease Purchase A greement
This Property Schedule is entered into pursuant to Tax - Exempt Lease Purchase Agreement dated as of April 5, 2016 between Lessor
and Lessee.
1. Interpretation The terms and conditions of the Tax - Exempt Lease Purchase Agreement (the "Agreement') are incorporated herein.
2. Property Description The Property subject to this Property Schedule is described in Exhibit A, attached hereto.
1 Term and Payments Lease Term and Lease Payments are per the table below. Lessee shall have the option to prepay the Lease
Payments due under this Property Schedule on any Payment Date by paying the Purchase Price shown in the table below, plus any
other amounts due and owing at the time of prepayment.
4. Property Cost The total acquisition cost of the Property is $109,359.65
0.00 23,821.03 88,545.11
3,815.02 20,006.01 67,380.44
2,922.75 20,898.28 45,580.82
1,990.69 21,830.34 23,127.21
1,017.07 22,803.99 0.00
TOTALS 119,105.15 9,745.53 109,359.65
* Purchase Price after the current lease payment has been made.
IN WITNESS WHEREOF, Lessor and Lessee have caused this Property Schedule to be executed in their names by their duly authorized
representatives.
Lessor: Mu . ' ipal sset Management, Inc.
B:
Name: Paul E. Collings
Title: President
Attest:
Name:
Title:
109,359.65
1 At Close
85,538.62
23,821.03
2 5- Apr -17
65,532.61
23,821.03
3 5- Apr -18
44,634.33
23,821.03
4 5- Apr -19
22,803.99
23,821.03
5 5- Apr -20
0.00
23,821.03
0.00 23,821.03 88,545.11
3,815.02 20,006.01 67,380.44
2,922.75 20,898.28 45,580.82
1,990.69 21,830.34 23,127.21
1,017.07 22,803.99 0.00
TOTALS 119,105.15 9,745.53 109,359.65
* Purchase Price after the current lease payment has been made.
IN WITNESS WHEREOF, Lessor and Lessee have caused this Property Schedule to be executed in their names by their duly authorized
representatives.
Lessor: Mu . ' ipal sset Management, Inc.
B:
Name: Paul E. Collings
Title: President
Attest:
Name:
Title:
EXHIBIT A
Property Description
New Tasers and Accessories:
One hundred twenty (120) New Class III X26P Tasers, Handle, Yellow
One hundred ten (I 10) Holster, Blackhawk, Right, X26P
Ten (10) Holster, Blackhawk, Left, X26P
One hundred twenty (120) XPPM, Battery Packs, X26P
Eighty (80) Cartridges — 25' Hybrid
More fully described in the invoice(s) attached hereto and made a part hereof, including all present and future
attachments, accessions, additions, substitutions and all proceeds thereof.
EXHIBIT B
Certificate of Acceptance to Tax - Exempt Lease Purchase Agreement
This Certificate of Acceptance is pursuant to Tax - Exempt Lease Purchase Agreement dated as of April 5, 2016 and the related
Property Schedule, between Lessor and Lessee (the "Agreement ").
Property Acceptance Lessee hereby certifies and represents to Lessor that the Property referenced in the Agreement has been
acquired, made, delivered, installed and accepted as of the date indicated below. Lessee has conducted such inspection and /or
testing of the Property as it deems necessary and appropriate and hereby acknowledges that it accepts the Property for all purposes.
Lessee will immediately begin making Lease Payments in accordance with the times and amounts specified herein. LESSOR
MAKES NO (AND SHALL NOT BE DEEMED TO HAVE MADE ANY) WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER
WHATSOEVER, INCLUDING, WITHOUT LIMITATION, THE DESIGN, OPERATION OR CONDITION OF, OR THE QUALITY OF THE
MATERIAL, EQUIPMENT OR WORKMANSHIP IN, THE PROPERTY, ITS MERCHANTABILITY OR ITS FITNESS FOR ANY
PARTICULAR PURPOSE, THE STATE OF TITLE THERETO OR ANY COMPONENT THEREOF, THE ABSENCE OF LATENT OR
OTHER DEFECTS (WHETHER OR NOT DISCOVERABLE), AND LESSOR HEREBY DISCLAIMS THE SAME; IT BEING
UNDERSTOOD THAT THE PROPERTY IS LEASED TO LESSEE "AS IS" ON THE DATE OF THIS AGREEMENT OR THE DATE OF
DELIVERY, WHICHEVER IS LATER, AND ALL SUCH RISKS, IF ANY, ARE TO BE BORNE BY LESSEE.
IN WITNESS WHEREOF, Lessee has caused this Certificate of Acceptance to be executed by their duly authorized representative.
Acceptance Date:
2. Bank Qualification Lessee designates this Property Schedule as a "qualified tax - exempt obligation" as defined in Section 265(b)(3)(B)
of the Internal Revenue Code of 1986, as amended. Lessee reasonably anticipates issuing tax - exempt obligations (excluding private
activity bonds other than qualified 501(c)(3) bonds and including all tax - exempt obligations of subordinate entities of the Lessee) during
the calendar year this Property Schedule was funded, in an amount not exceeding $10,000,000.
Notification of Tax Treatment
Municipal Asset Management, Inc. is required to collect and remit sales /use tax in the taxing jurisdiction where your
equipment will be located. In the event we do not receive a valid sales tax exemption certificate prior to the date your lease
commences, you will be charged sales /use tax.
Personal property tax returns will be filed as required by local law. In the event that any tax abatements or special
exemptions are available on the equipment you will be leasing from us, please notify us as soon as possible and forward
the related documentation to us. This will ensure that your leased equipment will be reported correctly.
Please indicate below if you feel that your lease is subject to tax or whether a valid exemption exists.
I agree that my lease is subject to sales /use tax.
I am exempt from sales /use tax and I have attached a completed exemption certificate to Municipal Asset
Management, Inc.
I have previously provided a completed exemption certificate to Municipal Asset Management, Inc. which is
valid for this transaction.
I am exempt from state tax but subject to local tax. I have attached a completed exemption certificate.
I have a valid abatement or property tax exemption (documentation attached).
If applicable to the tax rates in your state, are you outside the city limits or in an unincorporated area?
Additional comments:
® l�
DEPARTMENT
OF REVENUE
Important Information for Exempt Organizations
DR -14
R. 04111
You must provide all vendors and suppliers with an exemption certificate before making tax- exempt purchases.
See Rule 12A -1 .038, Florida Administrative Code (F.A.C.).
2. Your Consumer's Certificate of Exemption is to be used solely by your organization for your organization's
customary nonprofit activities.
3. Purchases made by an individual on behalf of the organization are taxable, even if the individual will be
reimbursed by the organization.
4. This exemption applies only to purchases your organization makes. The sale or lease to others of tangible
personal property, sleeping accommodations, or other real property is taxable. Your organization must register,
and collect and remit sales and use tax on such taxable transactions. Note: Churches are exempt from this
requirement except when they are the lessor of real property (Rule 12A- 1.070, F.A.C.).
5. It is a criminal offense to fraudulently present this certificate to evade the payment of sales tax. Under no
circumstances should this certificate be used for the personal benefit of any individual. Violators will be liable for
payment of the sales tax plus a penalty of 200% of the tax, and may be subject to conviction of a third - degree
felony. Any violation will require the revocation of this certificate.
6. If you have questions regarding your exemption certificate, please contact the Exemption Unit of Account
Management at 800 - 352 -3671. From the available options, select "Registration of Taxes," then "Registration
Information," and finally "Exemption Certificates and Nonprofit Entities." The mailing address is PO Box 6480,
Tallahassee, FL 32314 -6480,
INVOICE INSTRUCTIONS
(This information enables us to invoice you correctly.)
City of Boynton Beach, Florida
BILL TO ADDRESS: 100 E. Boynton Beach Blvd.
Boynton Beach, FL 33435
BILLING CONTACT:
First, M. 1. and Last Name:
Tim Howard
Title:
Director of Finance
Phone Number:
561- 742 -6310
Fax Number:
561- 742 -6316
E -Mail Address:
howardt @bbfl.us
PURCHASE ORDER NUMBER:
Invoices require purchase order numbers: YES NO
Purchase Order Number:
FEDERAL TAX ID NUMBER: 59- 6000282
EQUIPMENT LOCATION (If different from Billing Address):
ADDITIONAL INFORMATION NEEDED ON INVOICE:
MUNICIPAL ASSET MANAGEMENT, INC.
25288 FOOTHILLS DRIVE NORTH
GOLDEN, CO 80401
PHONE: 303 - 273 -9494
FAX: 303 - 273 -9505
EMAIL: PECOLLINGS @MAMGT.COM
INVOICE
INVOICE NO: 02172016M2
DATE: April 5, 2016
To: City of Boynton Beach, Florida
Attn: Tim Howard
100 E. Boynton Beach Blvd.
Boynton Beach, FL 33435
TERMS
Due at closing
DESCRIPTION
AMOUNT
First payment for Tax Exempt Lease /Purchase Agreement dated
$23,821.03
April 5, 2016 between Municipal Asset Management, Inc. as Lessor
and the City of Boynton Beach as Lessee
TOTAL DUE $23,821.03
Please make check payable to Municipal Asset Management, Inc. and mail it to the following address:
25288 Foothills Drive North
Golden, CO 80401
IF YOU HAVE ANY QUESTIONS CONCERNING THIS INVOICE, CALL: MUNICIPAL ASSET MANAGEMENT, PAUL
COLLINGS, 303 - 273 -9494
THANK YOU FOR YOUR BUSINESSI
Form 8038 -G Information Return for Tax - Exempt Governmental Obligations
(Rev. September 2011) ► Under Internal Revenue Code section 149(e) OMB No. 1545 -0720
lo- See separate instructions.
Department of the Treasury
Internal Revenue Service Caution: If the issue price is under $100,000, use Form 8038 -GC.
■-T". Wit Renortina Authoritv If Amended Return, check here ► LJ
1 Issuer's name
2 Issuer's employer identification number (EIN)
City of Boynton Beach, Florida
59 6000282
3a Name of person (other than issuer) with whom the IRS may communicate about this return (see instructions)
3b Telephone number of other person shown on 3a
4 Number and street (or P.O. box if mail is not delivered to street address)
Room /suite
5 Report number (For IRS Use Only)
100 E. Boynton Beach Blvd.
15
3
6 City, town, or post office, state, and ZIP code
7 Date of issue
Boynton Beach, FL 33435
30
8 Name of issue
9 CUSIP number
10a Name and title of officer or other employee of the issuer whom the IRS may call for more information (see
10b Telephone number of officer or other
instructions)
employee shown on 10a
Type of Issue (enter the issue price). See the instructions and attach schedule.
11 Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12 Health and hospital . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Transportation . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14 Public safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15 Environment (including sewage bonds) . . . . . . . . . . . . . . . . . . . .
16 Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17 Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18 Other. Describe ►
19 If obligations are TANS or RANs, check only box 19a . . . . . . . . . . . . . ► ❑
If obligations are BANS, check only box 19b . . . . . . . . . . . . . . . . ► ❑x�,
20 If obligations are in the form of a lease or installment sale, check box . . . . . . . . ► ❑
11
"/o
12
13
14
15
16
17
30
18
Description of Obligations. Complete for the entire issue for which this form is being filed.
31 Enter the remaining weighted average maturity of the bonds to be currently refunded . . . . ► years
32 Enter the remaining weighted average maturity of the bonds to be advance refunded . . . . ► years
33 Enter the last date on which the refunded bonds will be called (MM /DD/YYYY) . . . . . . ►
34 Enter the date(s) the refunded bonds were issued ► (MM /DD/YYYY)
(a) Final maturity date
(b) Issue price
(c) Stated redemption
price at maturity
(d) Weighted
I average maturity
(e) Yield
21 ears 1
FUMW Uses of Proceeds of Bond Issue (including underwriters' discount)
22 Proceeds used for accrued interest . . . . . . . . . . . . . . . . . . . . .
23 Issue price of entire issue (enter amount from line 21, column (b)) . . . . .
24 Proceeds used for bond issuance costs (including underwriters' discount) . 24
25 Proceeds used for credit enhancement . . . . . . . . . . . . 25
26 Proceeds allocated to reasonably required reserve or replacement fund 26
27 Proceeds used to currently refund prior issues . . . . . . . . . 27
28 Proceeds used to advance refund prior issues . . . . . . . . . 28
29 Total (add lines 24 through 28) . . . . . . . . . .
30 Nonrefunding proceeds of the issue (subtract line 29 from line 23 and enter amount here)
22
"/o
23
29
30
Description of Refunded Bonds. Complete this part only for refunding bonds.
31 Enter the remaining weighted average maturity of the bonds to be currently refunded . . . . ► years
32 Enter the remaining weighted average maturity of the bonds to be advance refunded . . . . ► years
33 Enter the last date on which the refunded bonds will be called (MM /DD/YYYY) . . . . . . ►
34 Enter the date(s) the refunded bonds were issued ► (MM /DD/YYYY)
For Paperwork Reduction Act Notice, see separate instructions Cat. No. 63773S Form 8038 -G (Rev. 9 -2011)
Form 8038 -G (Rev. 9-2011) Page 2
Miscellaneous
35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) . . . . 35
36a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract
(GIC) (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . 36a
b Enter the final maturity date of the GIC ►
c Enter the name of the GIC provider ►
37 Pooled financings: Enter the amount of the proceeds of this issue that are to be used to make loans
to other governmental units . . . . . . . . . . . . . . . . . . . . . . . . 37
38a If this issue is a loan made from the proceeds of another tax - exempt issue, check box ► ❑ and enter the following information:
b
Enter the date of the master pool obligation Do-
c
Enter the EIN of the issuer of the master pool obligation ►
d
Enter the name of the issuer of the master pool obligation ►
39
If the issuer has designated the issue under section 265(b)(3)(13)(i)(III) (small issuer exception), check box . . .
. ► ❑
40
If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . . . . . . . . . . . .
. ► ❑
41a
If the issuer has identified a hedge, check here ► ❑ and enter the following information:
b
Name of hedge provider►
c
Type of hedge ►
d
Term of hedge ►
42
If the issuer has superintegrated the hedge, check box . . . . . . . . . . . . . . . . . . . .
. ► ❑
43
If the issuer has established written procedures to ensure that all nonqualified bonds of this issue are remediated
according to the requirements under the Code and Regulations (see instructions), check box . . . . . . .
. ► ❑
44
If the issuer has established written procedures to monitor the requirements of section 148, check box . . . .
. ► ❑
45a
If some portion of the proceeds was used to reimburse expenditures, check here ► ❑ and enter the amount
of reimbursement . . . . . . . . . ►
b
Enter the date the official intent was adopted ►
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge
Signature and 'belief, they are true, correct, and complete. I further declare that I consent to the IRS's disclosure of the issuer's return information, as necessary to
and process this rn, to the pe on that I have authorized above.
Consent
� ' C°
Sig re of issuer's authorized representative Date Type �rint name and title
Print/Type preparer's name Preparer's signature Date PTIN
Paid Check ❑ if
self - employed
Preparer
Firm's name ► Firm's EIN 0- use only
Firm's address ► Phone no.
Form $03$-Ca (Rev. 9 -2011)
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RESOLUTION NO. R16 -050
A RESOLUTION OF THE CITY OF BOYNTON BEACH,
FLORIDA, AUTHORIZING AND DIRECTING THE CITY
MANAGER SIGN A LEASE PURCHASE AGREEMENT
AND ALL OTHER REQUIRED DOCUMENTS WITH
MUNICIPAL ASSET MANAGEMENT, INC. THROUGH
TASER INTERNATIONAL, INC., FOR THE PURCHASE
OF 120 X26P "SMART TASERS"; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the Police Department is in need of replacing its current X26 Tasers
which are being phased out and are no longer being repaired or replaced; and
WHEREAS, Taser International is offering special pricing by entering into the five
(5) year purchase plan and is allowing the City a trade in discount for the 104 current Tasers;
and
WHEREAS,'this purchase will allow the Police Department to upgrade all current
Tasers at once and increase the number of tasers which would be for officers that currently are
not issued tasers; and
WHEREAS, staff has recommended that the City Commission approve a five (5) year
Lease Purchase Agreement with Municipal Asset Management, Inc., for the purchase of 120
X26p "Smart Tasers" from TASER International, Inc., with yearly payments of $23,821.03
per year for a total of $119,105.15 over the five (5) year period.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1, The foregoing "Whereas" clauses are hereby ratified and confirmed as
being true and correct and are hereby made a specific part of this Resolution upon adoption
S; \CC \WP \Resolutions\20 -050 Taser Purchase_and Lease_Agreement_ Reso.doc
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hereof.
Section 2. The City Commission of the City of Boynton Beach, Florida, hereby
authorizes and directs the City Manager to sign the five (5) year Lease Purchase Agreement and
any other required documents associated with the purchase with Municipal Asset Management,
In o'', for the purchase *of 120 X26p "Smart Tasers" fiom TASER International, Inc., with yearly
payments of $23,821.03 per year for a total of $119,105.15 over the five year period, a copy of
said Lease Purchase Agreement is attached hereto as Exhibit "A ".
Section 3. This Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this 5th day of April, 2016.
CITY OF BOYNTON BEACH, FLORIDA
YES NO
Mayor — Steven B. Grant ^•'" —
Commissioner— Justin Katz
Commissioner — Mack McCray _
Commissioner — Christina L. Romelus
Commissioner — Joe Casello "
VOTE'
ATTEST:
k m A. Pyle, CMC City Clerk
(Corporate Seal)
S:'%%.0 \WP \Resolutions\2016 \R16 -050 Taser_ Purchase _and_Lease_Agreement_- _Reso.doc