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HomeMy WebLinkAbout11133RESOLUTION NO. 11133 A RESOLUTION APPROVING A MASTER EQUIPMENT AGREEMENT BY AND BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND ALL POINTS PUBLIC FUNDING, LLC, APPROVING A RELATED ESCROW AGREEMENT BY AND BETWEEN PUEBLO, A MUNICIPAL CORPORATION, ALL POINTS PUBLIC FUNDING LLC AND DEUTSCHE BANK NATIONAL TRUST COMPANY, AND APPROVING SEPARATE EQUIPMENT SCHEDULES WITH RESPECT THERETO, AUTHORIZING EXECUTION THEREOF BY THE PRESIDENT OF CITY COUNCIL, AND AUTHORIZING THE EXECUTION AND DELIVERY OF DOCUMENTS REQUIRED THEREWITH BY THE CITY MANAGER, AND AUTHORIZING ALL OTHER ACTIONS NECESSARY TO THE CONSUM - MATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION WHEREAS, Pueblo, a Municipal Corporation (hereinafter "City ") is a Colorado home rule city organized and existing under and by virtue of Article XX of the Colorado Constitution, and is authorized thereby to purchase and lease personal property for its municipal purposes for the benefit of City and its inhabitants and to enter into contracts with respect thereto; and WHEREAS, City desires to purchase, acquire and lease certain equipment constituting personal property necessary for the City to perform essential governmental functions; and WHEREAS, in order to acquire such equipment, City proposes to enter into that certain Master Equipment Lease - Purchase Agreement (the "Agreement ") and separate Equipment Schedules from time to time as provided in the Agreement with All Points Public Funding, LLC (the "Lessor") and that certain Escrow Agreement with the Lessor and Deutsche Bank National Trust Company, as escrow agent, true and correct copies of which are attached hereto as Exhibits "A ", "B: and "C ", and WHEREAS, City Council as the governing body of the City deems it for the benefit of City and for the efficient and effective administration thereof to enter into the Agreement and the separate Equipment Schedules as provided in the Agreement for the purchase, acquisition and leasing of the equipment to be therein described on the terms and conditions therein provided; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 The form, terms and provisions of the Agreement, the Escrow Agreement and the separate Equipment Schedules as provided in the Agreement are hereby approved in substantially the form attached hereto with such insertions, omissions and changes as shall be approved by the President of City Council and the City Attorney, the execution of such documents being conclusive evidence of such approval; and the President of the City Council is hereby authorized and directed to execute the Agreement, the Escrow Agreement and each Equipment Schedule and any related Exhibits attached thereto and to deliver the Agreements and each Equipment Schedule, and the City Clerk is authorized and directed to attest same and affix the seal of the City thereto. SECTION 2 The City Manager is authorized and directed to take all action necessary or reasonably required by the parties to the Agreement, the Escrow Agreement and each Equipment Schedule to carry out, give effect to and consummate the transactions contemplated thereby (including the execution and delivery of Certificates of Acceptance and Payment Requests and any tax certificate and agreement, each with respect to separate Equipment Schedules, as contemplated in the Agreement) and to take all action necessary in conformity therewith, including, without limitation, the execution and delivery of any closing and other documents required to be delivered in connection with the Agreement, the Escrow Agreement and each Equipment Schedule. SECTION 3 The Agreement, the Escrow Agreement and each Equipment Schedule, are expressly made subject to sufficient appropriations being made therefore in each fiscal year after 2007. Nothing contained in this Resolution, the Agreement, the Escrow Agreement, any Equipment Schedule nor any other instrument, shall be construed with respect to the City as incurring a pecuniary liability or charge upon the general credit of the City or against its taxing power, nor shall the breach of any agreement contained in this Resolution, the Agreement, the Escrow Agreement, any Equipment Schedule or any other instrument or document executed in connection therewith impose any pecuniary liability upon the City or any charge upon its general credit or against its taxing power, except to the extent that the rental payments payable under each Lease are special limited obligations of the Lessee as provided in such Lease. Nothing in the Agreement, the Escrow Agreement or any Equipment Schedule is intended, nor shall it be construed, to create any multiple - fiscal year direct or indirect debt or other financial obligation whatso -ever of the City. SECTION 4 The City Manager and Director of Finance of the City are each hereby designed to act as authorized representatives of the City for purposes of the Agreement, the Escrow Agreement and each Equipment Schedule until such time as the City Council shall designate any other or different authorized representative for purposes of the agreement, the Escrow Agreement and each Equipment Schedule. SECTION 5_ This Resolution shall be effective immediately upon final passage and approval. INTRODUCED October 22, 2007 ATTESTED BY APPROVED: a ESID NTof City Council CITY CLERK Randy Thurston Councilperson L_f T A LIW, Background Paper for Proposed RESOLUTION AGENDA ITEM # ° DATE: OCTOBER 22, 2007 DEPARTMENT: INFORMATION TECHNOLOGY DEPARTMENT JOHN WILKINSON, DIRECTOR TITLE A RESOLUTION APPROVING A MASTER EQUIPMENT AGREEMENT BY AND BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND ALL POINTS PUBLIC FUNDING, LLC, APPROVING A RELATED ESCROW AGREEMENT BY AND BETWEEN PUEBLO, A MUNICIPAL CORPORATION, ALL POINTS PUBLIC FUNDING LLC AND DEUTSCHE BANK NATIONAL TRUST COMPANY, AND APPROVING SEPARATE EQUIPMENT SCHEDULES WITH RESPECT THERETO, AUTHORIZING EXECUTION THEREOF BY THE PRESIDENT OF CITY COUNCIL, AND AUTHORIZING THE EXECUTION AND DELIVERY OF DOCUMENTS REQUIRED THEREWITH BY THE CITY MANAGER, AND AUTHORIZING ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION ISSUE Should Council approve a lease agreement for radio equipment that will be par of the City's 700/800 MHz Radio Network project? RECOMMENDATION Approval of this Resolution BACKGROUND This agreement would allow the City to lease the equipment, software, and services necessary to implement the 700/800 MHz Radio System that will become part of the States Digital Trunked Radio System. This is a lease purchase agreement, so at the end of the ten -year lease period, the City would take ownership of the equipment, software, etc. Leased under this agreement would be electronic equipment for two radio towers (at sites known as Jackson Hill and Goat Hill), equipment and software for 911 dispatchers, and radios necessary to get all City radio users onto the system. FINANCIAL IMPACT This agreement will allow total expenditures up $3,900,000. Annual payments, all of which would be subject, every year, to budgeting and appropriation by City Council, would be $474,738. For the 2008 budget, staff will recommend that $300,000 of the payment amount be drawn from the e911 surcharge and the $174,738 be drawn from interest on the'' /: Cent sales tax revenue.