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R21-074
1 RESOLUTION NO. R21-074 2 3 A RESOLUTION OF THE CITY OF BOYNTON BEACH, FLORIDA, 4 APPROVING AND AUTHORIZING THE CITY MANAGER TO SIGN 5 THE LEASE-PURCHASE AGREEMENT WITH PNC EQUIPMENT 6 FINANCE, LLC., FOR NINETY (90) 2021 RXV ELITE GOLF CARS 7 FROM EZGO, DIVISION OF TEXTRON, INC., FOR THE 8 PREVIOUSLY APPROVED TOTAL EXPENDITURE IN THE 9 AMOUNT OF $409,906.80; AND PROVIDING AN EFFECTIVE 10 DATE. 11 12 WHEREAS, on May 4, 2021, the City Commission approved the purchase of Ninety 13 (90)2021 RXV Elite Golf Cars from EZGO,Division of Textron,Inc.,who offered a 60-month 14 Net Municipal Lease/Purchase with a$1.00 per car buyout at the end of the term; and 15 WHEREAS,the City's agreement will be with PNC Equipment Finance for a municipal 16 interest rate of 2.99%through PNC Equipment Finance, LLC; and 17 WHEREAS,replacing the golf cart inventory will provide new golf carts for patrons to 18 use,enhancing the overall image of the Golf Course and improving the pace of play,along with 19 reducing maintenance time and costs that the Golf Course has experienced; and 20 WHEREAS,the City Commission of the City of Boynton Beach upon recommendation 21 of staff,deems it to be in the best interest of the citizens of the City of Boynton Beach to approve 22 and authorize the City Manager to sign the lease-purchase agreement with PNC Equipment 23 Finance, LLC. for Ninety (90) 2021 RXV Elite Golf Cars from EZGO, Division of Textron, 24 Inc for the previously approved total expenditure in the amount of$409,906.80. 25 NOW,THEREFORE,BE IT RESOLVED BY THE CITY COMMISSION OF 26 THE CITY OF BOYNTON BEACH,FLORIDA,THAT: 27 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as 28 being true and correct and are hereby made a specific part of this Resolution upon adoption. 29 Section 2. The City Commission of the City of Boynton Beach, Florida, hereby S:\CA\RESO\Agreements\Lease Purchase Agreement with PNC for Golf Carts-Reso.docx -1- 30 approves and authorizes the City Manager to sign the lease-purchase agreement with PNC 31 Equipment Finance,LLC. for Ninety(90)2021 RXV Elite Golf Cars from EZGO, Division of 32 Textron, Inc for the previously approved total expenditure in the amount of$409,906.80. A 33 copy of the Lease-Purchase Agreement is attached hereto as Exhibit"A". 34 Section 3. That this Resolution shall become effective immediately. 35 PASSED AND ADOPTED this 6th day of July,2021. 36 CITY OF BOYNTON BEACH, FLORIDA 37 38 YES NO 39 40 Mayor-Steven B. Grant 41 42 Vice Mayor—Woodrow L. Hay 43 44 Commissioner—Justin Katz 45 46 Commissioner—Christina L. Romelus 47 48 Commissioner—Ty Penserga (/- 49 49 50 VOTE 51 ATTEST: 52 53 54 55 stal Gibson, MMC 56 City Clerk 57 58 59 (Corporate Seal) S:\CA RESO\Agreements\l ease Purchase Agreement with PNC for Golf Carts-Reso.docx -2- PNC P> c°' EQUIPMENT FINANCE May 14,2021 R21-074 City of Boynton Beach Course Name: Links at Boynton Beach 8020 Jog Road Boynton Beach, FL 33425 RE: Lease Number 98981027-2 To Whom It May Concern: Thank you for choosing PNC Equipment Finance, LLC as your financing source. Enclosed you will find the following documentation: • Lease Agreement: Please sign, print name,title and date. • Schedule A(if applicable): Please initial at the bottom of the page. • Certificate of Acceptance: Please date, sign and insert title. • Schedule of Payments: Please sign, print name,title and date in the lower left hand corner of the page. • Resolution and Certificate of Incumbency: Please have all authorized signers (including the individual who signed the documents) sign in the middle section along with the Corporate Secretary or Assistant Secretary, who should complete the bottom section of the document. This person must complete the top and bottom sections of the document. If you have a corporate resolution available, please include that in the return of your documents. If this document does not apply to your business structure, please send a copy of your Operating Agreement, Partnership Agreement or Incorporating documents. • Insurance: Please note the page detailing instructions regarding the certificate of insurance required under the terms of the lease. Simply forward a copy of the signed page to your insurance carrier, so that they may issue the appropriate certificate on a timely basis. • Customer Information Form: Please complete and return. • Notification of Tax Treatment: Please complete and return. • 8038G Form: Please complete and return. We appreciate this opportunity to serve you and look forward to working with you in the future. Should you have any questions before sending the documents,please feel free to contact me at gwixted@leaserv.com. Sincerely, Gillian Wixted Sales Specialist 10/15 SE Welcome Letter Lease-Purchase Agreement Dated as of May 14.2021 Lease Number:98981027-2 Lessor: PNC Equipment Finance, LLC 655 Business Center Drive Horsham, Pennsylvania 19044 Lessee: LESSEE FULL LEGAL NAME FEDERAL TAX ID City of Boynton Beach 801262154 8020 Jog Road Boynton Beach,FL 33472 Equipment Description: Quantity Description Serial No. 90 (90)2021 E-Z-GO RXV Elite Lease Term is for 60 months, with Rent payments due in 60 Monthly plus applicable tax; each in the amounts set forth in the attached Schedule of Payments. Lessee shall pay Rent payments exclusively from legally available funds in U.S. currency to Lessor in the amounts and on the dates set forth herein, without notice or demand. TERMS AND CONDITIONS 1. LEASE. Subject to the terms of this Lease, Lessee agrees to lease from Lessor the equipment(the "Equipment")described above when Lessor accepts this Lease. Lessee agrees to be bound by all the terms of this Lease. 2. DELIVERY AND ACCEPTANCE OF EQUIPMENT. Acceptance of the Equipment occurs upon delivery. When Lessee receives the Equipment, Lessee agrees to inspect it and to verify by telephone or in writing such information as Lessor may require. Delivery and installation costs are Lessee's responsibility. If Lessee signed a purchase contract for the Equipment, by signing this Lease Lessee assigns its rights, but none of its obligations under the purchase contract,to Lessor. 3. RENT. Lessee agrees to pay Lessor Rent(plus applicable taxes) in the amount and frequency stated above. If Lessee's Rent payments are due in Advance, Lessee's first Rent payment is due on the date Lessee accepts the Equipment under the Lease. Lessor will advise Lessee as to(a)the due date of each Rent payment, and (b)the address to which Lessee must send payments. Rent is due whether or not Lessee receives an invoice from Lessor. Lessee will pay Lessor any required advance rent when Lessee signs this Lease. Lessee authorizes Lessor to change the Rent by not more than 15% due to changes in the Equipment configuration, which may occur prior to Lessor's acceptance of this Lease. Restrictive endorsements on checks Lessee sends to Lessor will not reduce Lessee's obligations to Lessor. NON-APPROPRIATION OF FUNDS. Lessee intends to remit all Rent and other payments to Lessor for the full Lease Term if funds are legally available. In the event Lessee is not granted an appropriation of funds at any time during the Lease Term for the Equipment subject to this Lease and operating funds are not otherwise available to Lessee to pay the Rent and other payments due and to become due under this Lease, and there is no other legal procedure or available funds by or with which payment can be made to Lessor, and the non- appropriation did not result from an act or omission by Lessee, Lessee shall have the right to return the Equipment as provided herein and terminate this Lease on the last day of the fiscal period for which appropriations were received without penalty or expense to Lessee, except as the portion of Rent for which funds shall have been appropriated and budgeted. At least 30 days prior to the end of Lessee's fiscal year, Lessee's chief executive officer (or legal counsel) shall certify in writing that (a) funds have not been appropriated for the upcoming fiscal period, (b) such non-appropriation did not result from any act or failure to act by Lessee, and (c) Lessee has exhausted all funds legally available for the payment of Rent. 4. UNCONDITIONAL OBLIGATION. LESSEE AGREES THAT IT IS UNCONDITIONALLY OBLIGATED TO PAY ALL RENT AND ANY OTHER AMOUNTS DUE UNDER THIS LEASE IN ALL FISCAL YEARS IN WHICH FUNDS HAVE BEEN APPROPRIATED NO MATTER WHAT HAPPENS, EVEN IF THE EQUIPMENT IS DAMAGED OR DESTROYED, IF IT IS DEFECTIVE OR IF LESSEE HAS TEMPORARY OR PERMANENT LOSS OF ITS USE. LESSEE IS NOT ENTITLED TO ANY REDUCTION OR SET-OFF AGAINST RENT OR OTHER AMOUNTS DUE UNDER THIS LEASE FOR ANY REASON WHATSOEVER. 5. DISCLAIMER OF WARRANTIES. THE EQUIPMENT IS BEING LEASED TO LESSEE IN "AS IS" CONDITION. LESSEE AGREES THAT LESSOR HAS NOT MANUFACTURED THE EQUIPMENT AND THAT LESSEE HAS SELECTED THE EQUIPMENT BASED UPON LESSEE'S OWN JUDGMENT. LESSEE HAS NOT RELIED ON ANY STATEMENTS LESSOR OR ITS EMPLOYEES HAVE MADE. LESSOR HAS NOT MADE AND DOES NOT MAKE ANY EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES WHATSOEVER, INCLUDING WITHOUT LIMITATION, THE EQUIPMENT'S MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SUITABILITY, DESIGN, CONDITION, DURABILITY, OPERATION, QUALITY OF MATERIALS OR WORKMANSHIP, OR COMPLIANCE WITH SPECIFICATIONS OR APPLICABLE LAW. Lessee is aware of the name of the Equipment manufacturer. If the manufacturer has provided Lessor with a warranty, Lessor assigns its rights to such warranty to Lessee and Lessee may enforce all warranty rights directly against the manufacturer of the Equipment. Lessee agrees to settle any dispute regarding performance of the Equipment directly with the manufacturer of the Equipment. 6. TITLE AND SECURITY INTEREST. Unless otherwise required by the laws of the state where Lessee is located, Lessee shall have title to the Equipment immediately upon delivery and shall be deemed to be the owner of the Equipment as long as Lessee is not in default under this Lease. In the event of a default, title to the Equipment shall revert to Lessor free and clear of any rights or interest Lessee may have in the Equipment. To secure all of Lessee's obligations to Lessor under this Lease Lessee hereby grants Lessor a security interest in (a)the Equipment to the extent of Lessee's interest in the Equipment, (b) anything attached, added, replaced and/or substituted to the Equipment 2 at any time, (c)any money or property from the sale of the Equipment, and (d)any money from an insurance claim if the Equipment is lost or damaged. Lessee agrees that the security interest will not be affected if this Lease is changed in any way. 7. USE, MAINTENANCE AND REPAIR. Lessee will not move the Equipment from the Equipment Location without Lessor's advance written consent. Lessee will give Lessor reasonable access to the Equipment Location so that Lessor can check the Equipment's existence, condition and proper maintenance. Lessee will use the Equipment in the manner for which it was intended, as required by all applicable manuals and instructions, and keep it eligible for any manufacturer's certification and/or standard full service maintenance contract. At Lessee's own cost and expense, Lessee will keep the Equipment in good repair, condition and working order, ordinary wear and tear excepted. Lessee will not make any permanent alterations to the Equipment and will remove any alterations or markings from the Equipment before returning to Lessor. 8. TAXES. Unless a proper exemption certificate is provided, applicable sales and use taxes will be added to the Rent. Lessee agrees to pay Lessor, when invoiced, all taxes (including any sales, use and personal property taxes), fines, interest and penalties relating to this Lease and the Equipment(excluding taxes based on Lessor's net income). Lessee agrees to file any required personal property tax returns and, if Lessor asks, Lessee will provide Lessor with proof of payment. Lessor does not have to contest any tax assessments. 9. INDEMNITY. Lessor is not responsible for any injuries, damages, penalties, claims or losses, inducing legal expenses, incurred by Lessee or any other person caused by the transportation, installation, manufacture, selection, purchase, lease, ownership, possession, modification, maintenance, condition, operation, use, return or disposition of the Equipment. To the extent permitted by law, Lessee agrees to reimburse Lessor for and defend Lessor against any claims for such losses, damages, penalties, claims, injuries, or expenses. This indemnity continues even after this Lease has expired,for acts or omissions that occurred during the Lease Term. 10. IDENTIFICATION. Lessee authorizes Lessor to insert or correct missing information on this Lease, including serial numbers and any other information describing the Equipment. 11. LOSS OR DAMAGE. Lessee is responsible for any loss of the Equipment from any cause at all, whether or not insured, from the time the Equipment is shipped to Lessee until it is returned to Lessor. If any item of Equipment is lost, stolen or damaged, Lessee will promptly notify Lessor of such event. Then, at Lessor's option, Lessee will either(a)repair the Equipment so that it is in good condition and working order, eligible for any manufacturer's certification, or(b) pay Lessor an amount equal to the Net Book Value (as defined herein)of the lost, stolen or damaged Equipment. If Lessee has satisfied their obligations herein, Lessor will forward to Lessee any insurance proceeds which Lessor receives for lost, damaged, or destroyed Equipment. If Lessee is in default, Lessor will apply any insurance proceeds Lessor receives to reduce Lessee's obligations pursuant to this Lease. 12. INSURANCE. Lessee agrees to(a) keep the Equipment fully insured against loss, naming Lessor as loss payee, and (b) obtain a general public liability insurance policy covering both personal injury and property damage in amounts not less than Lessor may tell Lessee, naming Lessor as additional insured, until Lessee has met all their obligations under this Lease. Lessor is under no duty to tell Lessee if Lessee's insurance coverage is adequate. The policies shall state that Lessor is to be notified of any proposed cancellation at least 30 days prior to the date set for cancellation. Upon Lessor's request, Lessee agrees to provide Lessor with evidence of insurance acceptable to Lessor. If Lessee does not provide Lessor with evidence of proper insurance within ten days of Lessor's request or Lessor receives notice of policy cancellation, Lessor may (but Lessor is not obligated to) obtain insurance on Lessor's interest in the Equipment at Lessee's expense. Lessee will pay all insurance premiums and related charges. 13. DEFAULT. Lessee will be in default under this Lease if any of the following happens: (a) Lessor does not receive any Rent or other payment due under this Lease within ten days after its due date, (b) Lessee fails to perform or observe any other promise or obligation in this Lease and does not correct the default within ten days after Lessor sends Lessee written notice of default, (c) any representation, warranty or statement Lessee has made in this Lease shall prove to have been false or misleading in any material respect, (d) any insurance carrier cancels or threatens to cancel any insurance on the Equipment, (e) the Equipment or any part of it is abused, illegally used, misused, lost, destroyed, or damaged beyond repair, (f) a petition is filed by or against Lessee under any bankruptcy or insolvency laws, or(g)Lessee defaults on any other agreement between it and Lessor(or Lessor's affiliates). 14. REMEDIES. Upon the occurrence of a default, Lessor may, in its sole discretion, do any or all of the following: (a)provide written notice to Lessee of default, (b)as liquidated damages for loss of a bargain and not as a penalty, declare due and payable,the present value of(i)any and all amounts which may be then due and payable by Lessee to Lessor under this Lease, plus(ii) all Rent payments remaining through the end of the then current fiscal year, discounted at the higher of 3% or the lowest rate allowed by law(collectively, the"Net Book Value") and (c) require Lessee to immediately return the Equipment to Lessor. Lessor has the right to require Lessee to make the Equipment available to Lessor for repossession during reasonable business hours or Lessor may repossess the Equipment,so long as Lessor does not breach the peace in doing so, or Lessor may use legal process in compliance with applicable law pursuant to court order to have the Equipment repossessed. Lessee will not make any claims against Lessor or the Equipment for trespass, damage or any other reason. If Lessor takes possession of the Equipment Lessor may (a) sell or lease the Equipment at public or private sale or lease without notice, and/or(b)exercise such other rights as may be allowed by applicable law. Although Lessee agrees that Lessor has no obligation to sell the Equipment, if Lessor does sell the Equipment, Lessor will reduce the Net Book Value by the amounts Lessor receives. Lessee will immediately pay Lessor the remaining Net Book Value. Lessee agrees (a)to pay all of the costs Lessor incurs to enforce Lessor's rights against Lessee, including attorney's fees, and(b)that Lessor will retain all of Lessor's rights against Lessee even if Lessor does not choose to enforce them at the time of Lessee's default. 15. LESSEE'S OPTION AT END OF LEASE. Provided Lessee is not in default, upon expiration of the Lease Term, Lessee has the option to purchase all but not less than all of the Equipment for$1.00(plus all sales and other applicable taxes). 16. RETURN OF EQUIPMENT. If(a) default occurs, or (b) a non-appropriation of funds occurs as provided herein, Lessee will immediately return the Equipment to any location(s) in the continental United States and aboard any carriers(s) Lessor may designate. The Equipment must be properly packed for shipment in accordance with the manufacturer's recommendations or specifications, freight prepaid and insured, maintained in accordance with this Lease, and in"Average Saleable Condition." "Average Saleable Condition"means that all of the Equipment is immediately available for use by a third-party buyer, user or lessee, other than Lessee named in this Lease, without the need for any repair or refurbishment. Lessee will pay Lessor for any missing or defective parts or accessories. Lessee will continue to pay Rent until the Equipment is received and accepted by Lessor. 17. LESSEE'S REPRESENTATIONS AND WARRANTIES. Lessee hereby represents and warrants to Lessor that as of the date of this Lease, and throughout the Lease Term: (a) Lessee is the entity indicated in this Lease; (b) Lessee is a state or a fully constituted political subdivision or agency of the State in which Lessee is located; (c) Lessee is duly organized and existing under the constitution and laws of the state in which they are located; (d) Lessee is authorized to enter into and carry out Lessee's obligations under this Lease, any documents relative to the acquisition of the Equipment and any other documents required to be delivered in connection with this Lease (collectively, the "Documents"); (e) the Documents have been duly authorized, executed and delivered by Lessee in accordance with all 3 applicable laws, rules, ordinances, and regulations, the Documents are valid, legal, binding agreements, enforceable in accordance with their terms and the person(s)signing the Documents have the authority to do so, are acting with the full authorization of Lessee's governing body, and hold the offices indicated below their signature, each of which are genuine; (f) the Equipment is essential to the immediate performance of a governmental or proprietary function by Lessee within the scope of Lessee's authority; (g) Lessee intends to use the Equipment for the entire Lease Term for such function and shall take all necessary action to include in Lessee's annual budget any funds required to fulfill Lessee's obligations for each fiscal year during the Lease Term; (h) Lessee has complied fully with all applicable law governing open meetings, public bidding and appropriations required in connection with this Lease and the acquisition of the Equipment; (i) Lessee's obligations to remit Rent under this Lease constitutes a current expense and not a debt under applicable state law and no provision of this Lease constitutes a pledge of Lessee's tax or general revenues, and any provision which is so constructed by a court of competent jurisdiction is void from the inception of this lease; and (j) all financial information Lessee has provided to Lessor is true and accurate and provides a good representation of Lessee's financial condition. 18. LESSEE'S PROMISES. In addition to the other provisions of this Lease, Lessee agrees that during the term of this Lease (a) Lessee will promptly notify Lessor in writing if it moves its principal office or changes its name or legal structure, (b) Lessee will provide to Lessor such financial information as may reasonably request from time to time, and(c)Lessee will take any action Lessor reasonably requests to protect Lessor's rights in the Equipment and to meet Lessee's obligations under this Lease. 19. ASSIGNMENT. LESSEE WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE, SUB-LEASE OR PART WITH POSSESSION OF THE EQUIPMENT OR FILE OR PERMIT A LIEN TO BE FILED AGAINST THE EQUIPMENT. Lessee will not attach any of the Equipment to any real estate. 20. ASSIGNMENT BY LESSOR. This Lease, and the rights of Lessor hereunder and in and to the Equipment, may be assigned and reassigned in whole or in part to one or more assignees by Lessor or its assigns at any time without the necessity of obtaining the consent of Lessee Upon an assignment, Lessee agrees to to make all payments as designated in the assignment, notwithstanding any claim, defense, setoff or counterclaim whatsoever (whether arising from a breach of this Lease or otherwise) that Lessee may from time to time have against Lessor or Lessor's assigns. 21. COLLECTION EXPENSES, OVERDUE PAYMENT. Lessee agrees that Lessor can, but does not have to, take on Lessee's behalf any action which Lessee fails to take as required by this Lease, and Lessor's expenses will be in addition to that of the Rent which Lessee owes Lessor. If Lessor receives any payment from Lessee after the due date, Lessee shall pay Lessor on demand as a late charge 5% of such overdue amount, limited, however,to the maximum amount allowed by law. 22. MISCELLANEOUS. This Lease contains the entire agreement and supersedes any conflicting provision of any equipment purchase order or any other agreement. TIME IS OF THE ESSENCE IN THIS LEASE. If a court finds any provision of Lease to be unenforceable, the remaining terms of this Lease shall remain in effect. THIS LEASE IS A "FINANCE LEASE" AS DEFINED IN ARTICLE 2A OF THE UNIFORM COMMERCIAL CODE. Lessee authorizes Lessor (or Lessor's agent) to (a) obtain credit reports, (b) make such other credit inquires as Lessor may deem necessary, and (c)furnish payment history information to credit reporting agencies. To the extent permitted by law, Lessor may charge Lessee a fee of$250.00 to cover Lessor's documentation and investigation costs. 23. NOTICES. All of Lessee's written notices to Lessor must be sent by certified mail or recognized overnight delivery service, postage prepaid, to Lessor at Lessor's address stated in this Lease, or by facsimile transmission to Lessor's facsimile telephone number, with oral confirmation of receipt. All of Lessor's notices to Lessee may be sent first class mail, postage prepaid, to Lessee's address stated in this Lease. At any time after this Lease is signed, Lessee or Lessor may change an address or facsimile telephone number by giving notice to the other of the change. 24. ANTI-MONEY LAUNDERING/INTERNATIONAL TRADE COMPLIANCE. Lessee represents, warrants and covenants to Lessor, as of the date of this Lease, the date of each advance of proceeds under the Lease, the date of any renewal, extension or modification of this Lease, and at all times until this Lease has been terminated and all amounts thereunder have been indefeasibly paid in full, that: (a) no Covered Entity (i) is a Sanctioned Person; (ii) has any of its assets in a Sanctioned Jurisdiction or in the possession, custody or control of a Sanctioned Person; (iii) does business in or with, or derives any of its operating income from investments in or transactions with, any Sanctioned Jurisdiction or Sanctioned Person; (b) the proceeds of this Lease will not be used to fund any unlawful activity; (c) the funds used to repay the Lease are not derived from any unlawful activity; (d) each Covered Entity is in compliance with, and no Covered Entity engages in any dealings or transactions prohibited by, any laws of the United States, including but not limited to any Anti-Terrorism Laws; and (e) no Equipment is or will become Embargoed Property. Lessee covenants and agrees that (a) it shall immediately notify Lessor in writing upon the occurrence of a Reportable Compliance Event; and (b) if, at any time, any Equipment becomes Embargoed Property, in addition to all other rights and remedies available to Lessor, upon request by Lessor, Lessee shall provide substitute Equipment acceptable to Lessor that is not Embargoed Property. As used herein: "Anti-Terrorism Laws" means any laws relating to terrorism, trade sanctions programs and embargoes, import/export licensing, money laundering, or bribery, all as amended, supplemented or replaced from time to time; "Compliance Authority"means each and all of the (a) U.S. Treasury Department/Office of Foreign Assets Control, (b) U.S. Treasury Department/Financial Crimes Enforcement Network, (c) U.S. State Department/Directorate of Defense Trade Controls, (d) U.S. Commerce Department/Bureau of Industry and Security, (e) U.S. Internal Revenue Service, (f) U.S. Justice Department, and (g) U.S. Securities and Exchange Commission; "Covered Entity"means Lessee, its affiliates and subsidiaries, all other obligors, all owners of the foregoing, and all brokers or other agents of Lessee acting in any capacity in connection with this Lease; "Embargoed Property"means any property(a)in which a Sanctioned Person holds an interest; (b) beneficially owned, directly or indirectly, by a Sanctioned Person; (c) that is due to or from a Sanctioned Person; (d) that is located in a Sanctioned Jurisdiction; or (e) that would otherwise cause any actual or possible violation by Lessor of any applicable Anti- Terrorism Law if Lessor were to obtain an encumbrance on, lien on, pledge of or security interest in such property or provide services in consideration of such property; "Reportable Compliance Event" means (1) any Covered Entity becomes a Sanctioned Person, or is indicted, arraigned, investigated or custodially detained, or receives an inquiry from regulatory or law enforcement officials, in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or self-discovers facts or circumstances implicating any aspect of its operations with the actual or possible violation of any Anti-Terrorism Law; (2)any Covered Entity engages in a transaction that has caused or may cause Lessor to be in violation of any Anti-Terrorism Laws, including a Covered Entity's use of any proceeds of the Lease to fund any operations in, finance any investments or activities in, or, make any payments to, directly or indirectly, a Sanctioned Jurisdiction or Sanctioned Person; or (3) any Equipment becomes Embargoed Property; "Sanctioned Jurisdiction" means a country subject to a sanctions program maintained by any Compliance Authority; and "Sanctioned Person" means any individual person, group, regime, entity or thing listed or otherwise recognized as a specially designated, prohibited, sanctioned or debarred person or entity, or subject to any limitations or prohibitions(including but not limited to the blocking of property or rejection of transactions), under any order or 4 directive of any Compliance Authority or otherwise subject to, or specially designated under, any sanctions program maintained by any Compliance Authority. 25. USA PATRIOT ACT NOTICE. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each lessee that opens an account. What this means: when the Lessee opens an account, Lessor will ask for the business name, business address, taxpayer identifying number and other information that will allow the Lessor to identify Lessee, such as organizational documents. For some businesses and organizations, Lessor may also need to ask for identifying information and documentation relating to certain individuals associated with the business or organization. 26. WAIVERS. LESSOR AND LESSEE EACH AGREE TO WAIVE,AND TO TAKE ALL REQUIRED STEPS TO WAIVE, ALL RIGHTS TO A JURY TRIAL. To the extent Lessee is permitted by applicable law, Lessee waives all rights and remedies conferred upon a lessee by Article 2A(Sections 508-522) of the Uniform Commercial Code. To the extent Lessee is permitted by applicable law, Lessee waives any rights they now or later may have under any statute or otherwise which requires Lessor to sell or otherwise use any Equipment to reduce Lessor's damages, which requires Lessor to provide Lessee with notice of default, intent to accelerate amounts becoming due or acceleration of amounts becoming due, intent to sale the Equipment at a public or private sale, or which may otherwise limit or modify any of Lessor's rights or remedies. Lessor will not be liable for specific performance of this Lease or for any losses, damages, delay or failure to deliver Equipment. 27. IMPORTANT INFORMATION ABOUT PHONE CALLS. By providing telephone number(s) to Lessor, now or at any later time. Lessee authorizes Lessor and its affiliates and designees to contact Lessee regarding Lessee account(s)with Lessor or its affiliates. whether such accounts are Lessee individual accounts or business accounts for which Lessee is a contact, at such numbers using any means, including but not limited to placing calls using an automated dialing system to cell, VoIP or other wireless phone number, or leaving prerecorded messages or sending text messages, even if charges may be incurred for the calls or text messages. Lessee consents that any phone call with Lessor may be monitored or recorded by Lessor. IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS LEASE TRQULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. TERMS OR ORAL PROMISES WHICH ARE NOT CONTAINED IN THIS WRITTEN AGREEMENT MAY NOT BE LEGALLY ENFORCED. THE TERMS OF THIS LEASE MAY ONLY BE CHANGED BY ANOTHER WRITTEN AGREEMENT BETWEEN LESSEE AND LESSOR. LESSEE AGREES TO COMPLY WITH THE TERMS AND CONDITIONS OF THIS LEASE. LESSEE AGREES THAT THE EQUIPMENT WILL BE USED FOR BUSINESS PURPOSES ONLY AND NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES. LESSEE CERTIFIES THAT ALL THE INFORMATION GIVEN IN THIS LEASE AND LESSEE'S APPLICATION WAS CORRECT AND COMPLETE WHEN THIS LEASE WAS SIGNED. THIS LEASE IS NOT BINDING UPON LESSOR OR EFFECTIVE UNLESS AND UNTIL LESSOR EXECUTES THIS LEASE. THIS LEASE WILL BE GOVERNED BY THE LAWS OF THE STATE OF THE LESSEE. City of Boynton B ach PHC Equipment Finance. . C essee"} � ("Lessor")essor") C— lam Authorized Signature Authorized S'nature Lori LaVerriere �11��r \lc' 50h Rini Name Pare Name City Manager Oer.. .i�e1ng Ma.vsoe e' Sr. Die 655 Business Center Drive 8020 Jog Road Boynton Beach,F 72 Horsham,PA 19044 APPROVED AS TO F C ATTORNEY 5 r ►� PNC EQUIPMENT FINANCE Request for Insurance May 14,2021 City of Boynton Beach Course Name: Links at Boynton Beach 8020 Jog Road Boynton Beach,FL 33472 RE: Insurance Coverage Requirements for Equipment Financing Transaction between PNC Equipment Finance, LLC and City of Boynton Beach Before funding your transaction, PNC Equipment Finance, LLC requires evidence of appropriate insurance coverage on the equipment described in your transaction documents. Please forward this request to your insurance company, agent or broker as soon as possible and ask for the evidence of insurance to be sent to the address below. PNC Equipment Finance, LLC will have an insurable interest in the following equipment: Quantity Description Serial No. Address City 90 (90)2021 E-Z-GO RXV Elite As a condition to entering into the equipment financing transaction, PNC Equipment Finance, LLC requires the following at all times during the term of the transaction: 1. All of the equipment must be insured for its full insurable value on a 100%replacement cost basis or as set forth in the documents. 2. PNC Equipment Finance, LLC must be named as lender loss payee under a property insurance policy insuring all risks to the equipment, including fire, theft, and other customary coverage under an "extended coverage"endorsement, with a deductible not to exceed $10,000 per occurrence. 3. PNC Equipment Finance, LLC must receive evidence that a comprehensive general liability insurance policy is in place with a minimum coverage of$1,000,000. PNC Equipment Finance, LLC must be named as an additional insured under the liability policy. 4. Each property insurance policy must contain a lender's loss payable clause, or special endorsement, in which the insurer agrees that any loss will be payable in accordance with the policy terms, notwithstanding any act or negligence of the insured. 5. Each policy must provide for 30 days'written notice to PNCEF prior to any cancellation, non-renewal or amendment of the policy. The evidence of insurance can consist of a Certificate of Insurance naming PNC Equipment Finance, LLC as follows: PNC Equipment Finance, LLC, and its successors and assigns, as lender loss payee Attn: Insurance Department 655 Business Center Drive, Suite 250 Horsham, PA 19044 When completed,the evidence of insurance should be provided to the following address: PNC Equipment Finance, LLC 655 Business Center Drive, Suite 250 Horsham, PA 19044 12/16 Request for Insurance CERTIFICATE OF COVERAGE Certificate Holder and Loss Payee Administrator Issue Date 7/23/21 PNC EQUIPMENT FINANCE. LLC Florida League of Cities,Inc. AND ITS SUCCESSORS AND ASSIGNS Department of Insurance Services P.O.Box 538135 ATTN: INSURNACE DEPARTMENT Orlando,Florida 32853-8135 655 BUSINESS CENTER DRIVE, SUITE 250 HORSHAM,PA 19044 COVERAGES THIS IS TO CERTIFY THAT THE AGREEMENT BELOW HAS BEEN ISSUED TO THE DESIGNATED MEMBER FOR THE COVERAGE PERIOD INDICATED.NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE COVERAGE AFFORDED BY THE AGREEMENT DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH AGREEMENT COVERAGE PROVIDED BY: FLORIDA MUNICIPAL INSURANCE TRUST AGREEMENT NUMBER: FMIT 0055 COVERAGE PERIOD: FROM 10/1/20 COVERAGE PERIOD: TO 10/1/21 12:01 AM STANDARD TIME TYPE OF COVERAGE-LIABILITY TYPE OF COVERAGE-PROPERTY General Liability © Buildings Miscellaneous ❑X Basic Form Comprehensive General Liability,Bodily Injury,Property Damage, Inland Marine Personal Injury and Advertising Injury ® Speaal Form ® Electronic Data Processing ® Errors and Omissions Liability ❑X Personal Property Bond © Employment Practices Liability Basic Form ® Employee Benefits Program Administration Liability Special Form ® Medical Attendants'/Medical Directors'Malpractice Liability ® Agreed Amount O Broad Form Property Damage ❑X Deductible $25,000 ® Law Enforcement Liability Coinsurance 90% ® Underground,Explosion&Collapse Hazard ® Blanket Limits of Liability Specific 'Combined Single Limit ® Replacement Cost Deductible N/A Actual Cash Value Automobile Liability Limits of Liability on File with Administrator ® All owned Autos(Private Passenger) TYPE OF COVERAGE-WORKERS'COMPENSATION ® All owned Autos(Other than Private Passenger) ® Statutory Workers'Compensation ® Hired Autos ® Employers Liability $1,000,000 Each Accident ® Non-Owned Autos $1,000,000 By Disease $1,000,000 Aggregate By Disease Limits of Liability ❑ Deductible N/A Combined Single Limit IX $500,000 Self Insured Retention Deductible N/A Automobile/Equipment-Deductible ® Physical Damage Per Schedule-Comprehensive-Auto Per Schedule-Collision-Auto Per Schedule-Miscellaneous Equipment Other •The limit of liability is$200,000 Bodily Injury and/or Property Damage per person or$300,000 Bodily Injury and/or Property Damage per occurrence.These specific limits of liability are increased to$5,000,000 for General Liability and$2,000,000 for Automobile Liability(combined single limit)per occurrence,solely for any liability resulting from entry of a claims bill pursuant to Section 768.28(5)Florida Statutes or liability/settlement for which no claims bill has been filed or liability imposed pursuant to Federal Law or actions outside the State of Florida. Description of Operations/Locations/Vehicles/Special Items RE:Evidence of Insurance for 90 2021 E-Z-GO RXV Elite THIS CERTIFICATE I5 ISSUED AS A MATTER Of INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER.THIS CERTIFICATE DOES NOT AMEND,EXTEND OR ALTER THE COVERAGE AFFORDED BY THE AGREEMENT ABOVE. Designated Member Cancellations City of Boynton Beach SHOULD ANY PART OF THE ABOVE DESCRIBED AGREEMENT BE CANCELED BEFORE THE EXPIRATION DATE THEREOF,THE ISSUING COMPANY WILL ENDEAVOR TO MAIL 95 DAYS WRITTEN NOTICE TO THE 100 East Ocean Avenue CERTIFICATE HOLDER NAMED ABOVE,BUT FAILURE TO MAIL SUCH NOTICE SHALL IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE PROGRAM,ITS AGENTS OR REPRESENTATIVES. Boynton Beach FL 33435 AUTHORIZED REPRESENTATIVE FMR-CERT(10/2011) E23 CERTIFICATE OF ACCEPTANCE Lease Number: 98981027-2 Quantity Description • 90 (90)2021 E-Z-GO RXV Elite ® Links at Boynton Beach 8020 Jog Road Boynton Beach, FL 33425 "Together with all attachments,tooling,accessories,appurtenances,and additions thereto". Lessee, through its authorized representative, hereby certifies to Lessor that: 1. The Equipment has been delivered to the location where it will be used, which is the Equipment Location given in the Lease-Purchase Agreement("Lease"); 2. All of the Equipment has been inspected and is (a) complete, (b) properly installed, (c) functioning, and (d) in good working order; 3. Lessee accepts the Equipment for all purposes under the Lease as of , 20_ (the "Acceptance Date"), which is the date on which the Equipment was delivered and installed; 4. The Equipment is of a size, design, capacity and manufacture acceptable to Lessee and suitable for Lessee's purposes; and 5. Lessee is not in default under the Lease, no Non-Appropriation of Funds (as described in the Lease) has occurred, and all of Lessee's statements and promises set forth in the Lease are true and correct. Lessor is hereby authorized to insert serial numbers on the Lease. THIS CERTIFICATE OF ACCEPTANCE IS SIGNED THISX DAY OF-7- -...)\ 1 , 2021. City of Boynton Beach ("Lessee") X li._,t_._ 01143J (1.4-4-4.-e-, Authorized Signature Lori LaVerriere Print Name City Manager Title: A c-` /10.:Q J(Q0,@\ Date 8020 Jog Road Boynton Beach 3472 oAPPR• _4'/ • CITY ATTORNEY SCHEDULE OF PAYMENTS Lease Number 98981027-2 Attached to and made a part of that certain Lease-Purchase Agreement dated as of May 14, 2021 by and between PNC Equipment Finance, LLC, as Lessor, and City of Boynton Beach, as Lessee. Rent payments are payable as follows: Payment Payment Rent Interest Principal Termination Number Date Payment Component Component Amount* 1 11/15/2021 $7,125.30 5.79 73.38 4,339.25 2 12/15/2021 $7,125.30 10.83 68.34 4,270.91 3 01/15/2022 $7,125.30 10.66 68.51 4,202.40 4 02/15/2022 $7,125.30 10.49 68.68 4,133.72 5 03/15/2022 $7,125.30 10.32 68.85 4,064.87 6 04/15/2022 $7,125.30 10.14 69.03 3,995.84 7 05/15/2022 $7,125.30 9.97 69.20 3,926.64 8 06/15/2022 $7,125.30 9.80 69.37 3,857.27 9 07/15/2022 $7,125.30 9.63 69.54 3,787.73 10 08/15/2022 $7,125.30 9.45 69.72 3,718.01 11 09/15/2022 $7,125.30 9.28 69.89 3,648.12 12 10/15/2022 $7,125.30 9.10 70.07 3,578.05 13 11/15/2022 $7,125.30 8.93 70.24 3,507.81 14 12/15/2022 $7,125.30 8.75 70.42 3,437.39 15 01/15/2023 $7,125.30 8.58 70.59 3,366.80 16 02/15/2023 $7,125.30 8.40 70.77 3,296.03 17 03/15/2023 $7,125.30 8.23 70.94 3,225.09 18 04/15/2023 $7,125.30 8.05 71.12 3,153.97 19 05/15/2023 $7,125.30 7.87 71.30 3,082.67 20 06/15/2023 $7,125.30 7.69 71.48 3,011.19 21 07/15/2023 $7,125.30 7.51 71.66 2,939.53 22 08/15/2023 $7,125.30 7.34 71.83 2,867.70 23 09/15/2023 $7,125.30 7.16 72.01 2,795.69 24 10/15/2023 $7,125.30 6.98 72.19 2,723.50 25 11/15/2023 $7,125.30 6.80 72.37 2,651.13 26 12/15/2023 $7,125.30 6.62 72.55 2,578.58 27 01/15/2024 $7,125.30 6.44 72.73 2,505.85 28 02/15/2024 $7,125.30 6.25 72.92 2,432.93 29 03/15/2024 $7,125.30 6.07 73.10 2,359.83 30 04/15/2024 $7,125.30 5.89 73.28 2,286.55 31 05/15/2024 $7,125.30 5.71 73.46 2,213.09 32 06/15/2024 $7,125.30 5.52 73.65 2,139.44 33 07/15/2024 $7,125.30 5.34 73.83 2,065.61 34 08/15/2024 $7,125.30 5.16 74.01 1,991.60 35 09/15/2024 $7,125.30 4.97 74.20 1,917.40 36 10/15/2024 $7,125.30 4.79 74.38 1,843.02 37 11/15/2024 $7,125.30 4.60 74.57 1,768.45 38 12/15/2024 $7,125.30 4.41 74.76 1,693.69 39 01/15/2025 $7,125.30 4.23 74.94 1,618.75 40 02/15/2025 $7,125.30 4.04 75.13 1,543.62 41 03/15/2025 $7,125.30 3.85 75.32 1,468.30 42 04/15/2025 $7,125.30 3.66 75.51 1 1,392.79 43 05/15/2025 $7,125.30 3.48 75.69 1 1,317.10 44 06/15/2025 $7,125.30 3.29 75.88 s 1,241.22 45 '07/15/2025 $7,125.30 3.10 j 76.07 1,165.15 46 08/15/2025 $7,125.30 2.91 76.26 1,088.89 47 09/15/2025 $7,125.30 2.72 76.45 1,012.44 48 10/15/2025 $7,125.30 , 2.53 76.64 935.80 49 11/15/2025 $7,125.30 2.34 76.83 858.97 50 12/15/2025 $7,125.30 2.14 77.03 781.94 51 01/15/2026 $7,125.30 1.95 77.22 704.72 52 02/15/2026 $7,125.30 1.76 77.41 ! 627.31 53 03/15/2026 $7,125.30 1.57 _ i 77,60 549.71 54 04/15/2026 $7,125.30 1.37 I 77.80 471.91 55 05/15/2026 $7,125.30 1.18 77.99 393.92 _ 56 '06/15/2026 $7,125.30 0.98 78.19 315.73 57 07/15/2026 $7,125.30 0.79 1 78.38 237.35 58 08/15/2026 $7,125.30 0.59 78.58 158.77 59 09/15/2026 $7,125.30 0.40 78.77 80.00 60 10/15/2026 $7,125.30 0.20 1 78.97 1.03 61 11/15/2026 $1.00 a -0.03 1.03 0.00 *As provided in Section 21 of the Lease-Purchase Agreement. City of ton Beach("Lessee") PNC Equipment Finance. LLC • ("Lessor) ¢'`_`_.-c___ By: cji--"L/----- Lori LaVerriere PraCit Title O e' -� \t 'v SV - City Manager Title: 995 Dalton Ave. 8020 Jog Road Cincinnati, OH 45203 Boynton Beach,FL3 • 41 APPROVED AS TO FO ' I/l 4 Al / . ' ATTORNEY E24 RESOLUTION AND CERTIFICATE OF INCUMBENCY Lease Number 98981027-2 Lessee: City of Boynton Beach WHEREAS,Lessee,a body politic and corporate duly organized and existing as a political subdivision,municipal corporation or similar public entity of the State or Commonwealth (the "State") is authorized by the laws of the State to purchase, acquire and lease certain equipment and other property for the benefit of the Lessee and its inhabitants and to enter into contracts with respect thereto;and WHEREAS,pursuant to applicable law,the governing body of the Lessee("Governing Body")is authorized to acquire,dispose of and encumber real and personal property,including,without limitation,rights and interest in property,leases and easements necessary to the functions or operations of the Lessee. WHEREAS,the Governing Body hereby finds and determines that the execution of one or more Lease-Purchase Agreements or lease schedules("Leases")in the principal amount not exceeding the amount stated above for the purpose of acquiring the property("Equipment")to be described in the Leases is appropriate and necessary to the functions and operations of the Lessee. WHEREAS,PNC Equipment Finance,LLC("Lessor")shall act as Lessor under said Leases. NOW,THEREFORE,Be It Ordained by the Governing Body of the Lessee: Section 1. Either one of the OR (each an"Authorized Representative")acting on behalf of the Lessee, is hereby authorized to negotiate, enter into, execute, and deliver one or more Leases in substantially the form set forth in the document presently before the Governing Body,which document is available for public inspection at the office of the Lessee. Each Authorized Representative acting on behalf of the Lessee is hereby authorized to negotiate, enter into,execute, and deliver such other documents relating to the Lease as the Authorized Representative deems necessary and appropriate. All other related contracts and agreements necessary and incidental to the Leases are hereby authorized. Section 2. By a written instrument signed by any Authorized Representative, said Authorized Representative may designate specifically identified officers or employees of the Lessee to execute and deliver agreements and documents relating to the Leases on behalf of the Lessee. Section 3. The aggregate original principal amount of the Leases shall not exceed the amount stated above and shall bear interest as set forth in the Leases and the Leases shall contain such options to purchase by the Lessee as set forth therein. Section 4. The Lessee's obligations under the Leases shall be subject to annual appropriation or renewal by the Governing Body as set forth in each Lease and the Lessee's obligations under the Leases shall not constitute general obligations of the Lessee or indebtedness under the Constitution or laws of the State. Section 5. As to each Lease,the Lessee reasonably anticipates to issue not more than$10,000,000 of tax-exempt obligations(other than"private activity bonds" which are not"qualified 501(c)(3)bonds")during the fiscal year in which each such Lease is issued and hereby designates each Lease as a qualified tax-exempt obligation for purposes of Section 265(b)of the internal Revenue Code of 1986,as amended. Section 6. This resolution shall take effect immediately upon its adoption and approval. SIGNATURES AND TITLES OF AUTHORIZED REPRESENTATIVES: AUTHORIZED LEASE SIGNORS ONLY I (s-5Lcicz.....0._ Lori LaVerriere City Manager v.'o�� Name Title Signature , Name Title Signature APPROVED 2f. i4.1 If _ rCITY ATTORNEY ADOPTED AND APPROVED on this 2 p r a ]y ,2021. Section 7. I,the undersigned Secretary/Clerkidentified below,does hereby certify that I am the duly elected or appointed and ac ing Secretary/Clerk of the above Lessee,a political subdivision duly organized and existing under the laws of the State where Lessee is located,that I have the title stated below,and that,as of the date hereof,the individuals named below are the duly elected or appointed officers of the Lessee holding the offices set forth opposite their respective names. The undersigned Secretary/Clerk of the above-named Lessee hereby certifies and attests that the undersigned has access to the official records of the Governing Body of the Lessee,that the foregoing resolutions were duly adopted by said Governing Body of the Lessee at a meeting of said Governing Body and that such resolutions have not been amended or altered and are in full force and effect on the date stated below. LES EE: City of Boynton Bea ^— 4. /� �//�C�!/{LlC. [SEAL] ig ature of Secreta• /Cler of Lesse • nt(71,_Name: Crystal Gibson, MMC Official Title: City Clerk f,) (; Date: ►�IPNC EQUIPMENT FINANCE Customer Information Lease#98981027-2 Please provide the following information. By providing such information,you will enable us to ensure prompt payment of your vendor and the correct processing of your lease transaction. Thank you. Lessee Information Full Business Legal Name: City of Boynton Beach Federal Tax ID Number: 801262154 Invoices should be directed to: faxw Attention: S Address )UD oC ea r, City: State: zip: 3U 5 5 Preferred Method of Payment: (Please check) 0 Monthly Invoice(Mail) Invoices should be directed to: Attention: Address City: C)0 4 v I"b l n4rt BC - 1 Email: Monthly Invoice(Email) Billing Contact: Contact Information In order to verify receipt of equipment and review terms and conditions of the lease, please provide contact information for one or more staff that can assist in this process. Contact 1: Phone: CornS(\o t I b(PI - 7YZ- (05 h Email: Contact 2: Phone: Email: �. aex► ,4g I hereby attest the above information is accurate. Signature Date x �... 09 /0D /a,a4 Email PNC Equipment Finance, LLC 655 Business Center Drive,Suite 250•Horsham,PA 19044 Questions? Call(800)559-2755 1/08/2021 SE Customer Information Form ►> PNC EQUIPMENT FINANCE Notification of Tax Treatment PNC Equipment Finance, LLC a Delaware limited liability company ("PNC"), is required to collect and remit sales/use tax in the taxing jurisdiction where your equipment will be located. If you select that you are exempt by marking one of the checkboxes below, you must provide a valid exemption certificate. If you do not provide this certificate prior to the booking of your transaction, you will be responsible for sales tax on all accrued payments. • If tax has been remitted up front and financed into your lease payment, your account will not be marked sales tax exempt if you provide an exemption certificate after your transaction has been booked. • If your tax is remitted on a monthly basis, your lease may be marked sales tax exempt for the remaining payments left to be invoiced if you provide a valid exemption certificate after your transaction has been booked. • 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 your lease is subject to tax or whether a valid exemption exists. Sales Tax ❑ 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 PNC. ❑ I am claiming a partial exemption from tax. I have attached a completed exemption certificate or other documented proof of this partial exemption. ❑ I agree that my business is subject to sales/use tax and I have attached a completed resale certificate. This certificate indicates that I will be responsible for collection and remittance of sales/use tax based on the subsequent re-rental of the property. If applicable to the tax rates in your state, are you outside the city limits or in an unincorporated area? ❑ Inside city limits 0 Outside city limits 0 Unincorporated area Property Tax ❑ I have a valid abatement or property tax exemption (documentation attached). ❑ Location: State Taxing District Additional comments: Lease Number 98981027-2 Lessee: City of Boynton Beach Signature: Print Name: Lori LaVer-riere - Title: City Manager _ Date: Q\ i D. 0,c),d\ IP APPROVED 1 0 F. - LIM I II CITY ATTORNEY PLEASE COMPLETE AND SIGN FORM 01/05/2021 SE Tax Notification Form 8038-G Information Return for Tax-Exempt Governmental Bonds ►Under Internal Revenue Code section 149(e) (Rev.September 2018) See separate instructions. OMB No.1545-0720 Department of the Treasury Caution:If the issue price is under$100,000, use Form 8038-GC. Internal Revenue Service ►Go to www.irs.gov/F8038G for instructions and the latest information. Part I Reporting Authority If Amended Return, check here ► ❑ 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 East Ocean Avenue 3 6 City,town,or post office,state,and ZIP code 7 Date of issue Boynton Beach, FL 33435 07/22/2021 8 Name of issue 9 CUSIP number Equipment Lease-Purchase Agreement 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 Lori LaVerriere,City Manager 561-742-6010 Part II Type of Issue (enter the issue price). See the instructions and attach schedule. 11 Education 11 12 Health and hospital 12 13 Transportation 13 14 Public safety 14 15 Environment(including sewage bonds) 15 16 Housing 16 17 Utilities 17 18 Other. Describe► Golf Cars 18 397,136 70 19a If bonds are TANs or RANs,check only box 19a ► ❑ b If bonds are BANs, check only box 19b ► ❑ 20 If bonds are in the form of a lease or installment sale, check box ► ❑ Part III Description of Bonds. Complete for the entire issue for which this form is being filed. (a)Final maturity date (b)Issue price (c)Stated redemption (d)Weighted (e)Yield price at maturity average maturity 21 11/15/2026 $ 397,136.70,$ 5 years 2.995 Part IV Uses of Proceeds of Bond Issue (including underwriters' discount) _ 22 Proceeds used for accrued interest 22 23 Issue price of entire issue(enter amount from line 21, column(b)) 23 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 refund prior tax-exempt bonds. Complete Part V . . 27 28 Proceeds used to refund prior taxable bonds. Complete Part V . . . 28 _ 29 Total(add lines 24 through 28) 29 30 Nonrefunding proceeds of the issue(subtract line 29 from line 23 and enter amount here) . . 30 Part V Description of Refunded Bonds. Complete this part only for refunding bonds. 31 Enter the remaining weighted average maturity of the tax-exempt bonds to be refunded . . . ► years 32 Enter the remaining weighted average maturity of the taxable bonds to be refunded . . . . ► years 33 Enter the last date on which the refunded tax-exempt 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.9-2018) Form 8038-G(Rev.9-2018) Page 2 Part VI 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►(MM/DD/YYYY) 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 bond►(MM/DD/YYYY) c Enter the EIN of the issuer of the master pool bond► d Enter the name of the issuer of the master pool bond► 39 If the issuer has designated the issue under section 265(b)(3)(B)(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►(MM/DD/YYYY) 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 return,to the person that I haveG uthorized above. Consent y4; Lori LaVerriere,City Manager Signature of issuer's authorized representative Date Type or print name and title Paid Print/Type preparer's name Preparer's signature Date Check ❑ if PTIN Preparer self-employed Use Only Firm's name ► Firm's EIN ► Firm's address ► Phone no. Form 8038-G(Rev.9-2018) Additional State Provisions Rider This Rider is executed and delivered by the undersigned Lessor and the undersigned Lessee regarding the Lease Agreement No 98981027-2("Lease"). If the Lessee is a state government agency or political subdivision of a state listed below,the additional provisions listed below for the respective state apply to the Lease es provided for below: State Additional Provisions Florida Notwithstanding anything contained in the Lease,the Lessor shall not have title to the Equipment as owner nor be granted a security interest to the extent such a grant or holding title violates Florida law. In addition, any insurance provisions naming Lessor as lender loss.a.;e loss.• ee,and/or additional insured shall not be applicable. Georgia Notwithstanding anything to the contrary contained in the Lease,the Lease Term commences on,and interest accrues from,the date this Lease is executed by you as set forth on your signature line below,and in accordance with applicable Georgia law,the initial term shall continue in effect until midnight on December 31 of the calendar year in which this Lease is executed. The Lease Term shall automatically renew for each succeeding calendar year for the remaining period of the stated Lease Term,unless you give notice to us by December 1 of a calendar year stating your intention not to renew this Lease for the period after December 31 of such calendar year. If you deliver such notice of nonrenewal of the Lease Term,this Lease shall terminate absolutely and without further obligation on your part,including any obligation to pay Rent payments for the period after termination,at the end of such calendar year. In the event that your governing body does not approve an appropriation of funds at any time during the Lease Term for the payment of Rent payments and other amounts(if any)due and to become due for the succeeding fiscal year during the Lease Term for the Equipment subject to this Lease,you shall have the right to return such Equipment in accordance with the terms hereof,and terminate this Lease on the last day of the fiscal year for which sufficient appropriations were received without penalty or expense to you,except as to the portion of Rent payments for which funds shall have been appropriated and budgeted. At least 15 days prior to the end of your fiscal year in which your governing body shall not have approved an appropriation of funds for the succeeding fiscal year,your chief finance or budgetary official shall certify in writing to us that funds have not been appropriated for the succeeding fiscal year. In addition, Lessee hereby agrees to complete, execute and deliver to Lessor with respect to the Lease, on the date of its execution and delivery, a Certificate of Compliance with Georgia Law in substantially the form attached to this Rider as the "Georgia Exhibit". Kansas Lessee hereby agrees to complete,execute and deliver to Lessor with respect to the Lease, on the date of its execution and delivery,a Certificate of Com•fiance with Kansas Law in substantial) the form attached to this Rider as the"Kansas Exhibit'. New York NOT APPLICABLE FOR NEW YORK STATE GOVERNMENT ENTITIES. APPLICABLE FOR ALL OTHER GOVERNMENT ENTITIES IN NEW YORK. For purposes of Section 109-b(2)(f)of the General Municipal Law of the State of New York,Lessor and Lessee hereby agree that the Lease shall be deemed executory only to the extent of monies appropriated and available for the purpose of the Lease,and no liability on account thereof shall be incurred by Lessee beyond the amount of such monies. The Lease is not a general obligation of Lessee. Neither the full faith and credit nor the taxing power of Lessee are pledged to the payment of any amount due or to become due under the Lease. It is understood that neither the Lease nor any representation by any public employee or officer creates any legal or moral obligation to appropriate or make monies available for the purpose of the Lease. In addition to Lessee's representations, warranties and covenants set forth in the Lease, Lessee hereby further represents to Lessor as follows:(a)the stated full Lease Term of the Lease does not exceed the"period of probable usefulness"prescribed by Section 11.00 of the Local Finance Law of the State of New York for the equipment,machinery or apparatus financed under the Lease; (b) the authorization for the issuance of obligations to finance the equipment, machinery or apparatus to be leased, acquired and financed under the Lease is not required by law to be subject to(i)a permissive or mandatory referendum, (ii)a supermajority vote of Lessee's governing board or (iii) a referendum only if the obligations have a maturity not less than a specified minimum period; and (c)the amount of unpaid periodic payments(excluding interest)proposed to be made under the Lease and those other installment purchase contracts entered into by Lessee pursuant to Section 109-b of the General Municipal Law of the State of New York,together with the amount of outstanding indebtedness,do not exceed 115%of the limit prescribed by Section 104.00 of the Local Finance Law of the State of New York and the total amount of such payments(excluding interest) under the Lease and all such other installment purchase contracts do not exceed 40%of such limit. Ohio NOT APPLICABLE FOR OHIO STATE GOVERNMENT ENTITIES. APPLICABLE FOR ALL OTHER GOVERNMENT ENTITIES IN OHIO. Lessee hereby agrees to complete,execute,and deliver to Lessor with respect to the Lease,a Certificate of Adequate Resources in substantially the form attached to this Addendum as the"Ohio Exhibit". Texas Pursuant to Section 2270.002 of the Texas Government Code,Lessor hereby certifies that it does not boycott Israel and will not boycott Israel during the term of this Lease. _ City of Boynton Beach PNC Ettuioment Finance. LLQ ('Lessee") ("Lessor") Authorized Signature Authoriz ignature �^ Lori LaVerriere Print Name) Print Name C i ty Manager OQCs-f-fi 'S t J►M��' ' Title C�c•-\ of of i g t)0 ' Title: Date 655 Business Center Drive 8020 Jog Road Horsham, PA 19044 Boynton Beach,FL 33472 APPROVED /. T. • M" CITY ATTORNEY Additional State Provisions Rider-FL V20210217