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Home My WebLink AboutAgreement_General_10/10/2013 MUNICIPAL CREDIT APPLICATION Page 2 of 2 Have the lease payments been included in the operating budget? WYes ❑ No if NO, please explain: Will the Lessee issue more than $10,000,000 (ten million dollars) in tax - exempt debt in this calendar year? ❑ Yes No Has the Lessee defaulted or non - appropriated on a prior lease, bond, or legal obligation? ❑ Yes No TAX LEVY INFORMATION Indicate the tax/mill levy for each year. /- / Bud et Year 2012 -13: 747 2011 -12: 5. 7lp 7 2010 -11: � 2009 -10: J. AP71 If the tax/mill levy can be raised what are the procedures? Are there any voter imposed restrictions on taxing or spending? ❑ Yes 9NO If YES lease explain: Indicate the assessed property value for each year. ? 5 . 0 17 S8 S 780 loci x'9 Bud et Year 2012 -13: 2011 -12: ! 2010 -11: ) /2009 -10: Indicate what percentage of taxes billed were actually collected for each year. // Budge tYear 2012 -13: 2011 -12: 6 /? 4 ° ,/ 2010 -11: 94 '. 3'4° 2009-10: 9W •`r7° Who are the three lara taxoav and what percent (approximate.) of total tax receipts does ch re re ? 3. '!~ �0. lag 08 DEMOGRAPHICS 1.0 0.93 Population in 2012: 2011:.$ 2010: J 2009: List the major employers in the immediate area and the approximate number o peopleem oyed at eac h_ �, `� 1. Sr 2.1 , c ei. Patw. j( e( 4. cDi Has the municipality been rated by a major rating agency? ❑Yes 52 If YES, Rating: Agency: REQUIRED APPLICATION DOCUMENTS - CHECKLIST Please include the following supplemental documents to insure a prompt credit review. [fJ Last three year's audited financial statements (We will gladly accept your financial and other documents in PDF format (Note: For any unaudited fiscal year provide comprehensive financial tements t include a Bel ce S with Debt Service mitments and an income Statement in place of the audit.) A4ai iA*01L : W , I�QwRS . Current fiscal year's budget Land next year's budget, if available) ❑ Vendor quotes for all enuinment brochures and/or vendor's web site URL (if available) www. ❑ Si First Capital "Quo lion" (Be sure to circle your preferred lease payment amount & lease term) ❑ Check for " Documentation & Legal fee per Quotation ❑ Police /Sheriff Department Profile Addendum (For law enforcement transactions only) IMPORTANT Lessee representative agrees to the following. The information provided herein is correct to the best of my knowledge. The appropriate final - decision maker(s) have reviewed and approved First Capital's proposed Municipal Lease- To-Own Quotation, the quote pricing, the general terms, and Lessee understands that upon credit approval contract documents will be dratted. Lessor (and/or its assigns) is authorized to verify any information provided with appropriate third panties as necessary to complete its credit review. Lessor may also request additional information to complete its review. (Lessor will retain the application documents whether or not credit is approved) Should Lessee cancel this transaction after credit has been approved and legal documents drafted, or should this application contain material inaccuracies or omissions that preclude a credit approval, or should Lessee fail to execute the contract documents within 45 days for any reason, Lessee agrees to pay a "lost deal" fee gaga/ the amount of the "Documentation & Legal Fees" specked in First Capital's Quotation. Thera is no lost deal fee if the contract documents are executed and returned within 45 days of receipt. Lessee has not relied on First Capital as a municipal advisor or consultant and has obtained guidance as needed from its own legal & tax advisors. By (Lessee Representative Print Name: S L Title: 0 4 Date: Please return all documents via Email, UPS/FedEx or Post Office Express Mail to: First Capital Equipment Leasing Corp PO Box 1018, 32 Wolf Hill, East Sandwich, MA 02537 a PH 800 - 541 -0114 . FAX 508 - 833 -6692 ®1985 -2013 Copyright first Capital Equipment Leasing Corp. AA rights reserved Rev 011113 m Mrst C a pital Equipm L easing Coo. r ppp� LEESEEx Erb sxom P PhawBOth5s1�st4. Fsx aa�o3ssa9. r: +i� 28! a •: W _ 0M "' " September 27, 2013 Getebrefin 28 Years Pat Nawrocki April 2013 Village of Tequesta, FL (Fire Department) Main PH 561 - 768 -0550 • Contact PH 561 - 768 -0550 • Email: pnawrock! @tequesta.org Municipal Lease -To -Own Revised Quotation Village of Tequesta, FL To Be Leased: (1) New 2013 Custom Rescue Pumper Exact descriptions required Anticipated Delivery/Vendor Pmt. Date: T.B.D. Program Net Amount to Finance: $432,843.54 MUNis -BQ 10 Year Lease Payment Amount: $ 48,134.58 / Year Interest: 2.394% Rates Locked For Contracts Retumed By: Oct 11, 2013 (Rates ads automatically for the next 14 days based on our Libor Swap Rate Index formula. Thereafter rates loaf until signed documents are received.) Down Payment + Security Deposit: Waived (Due at Lease Signing) Documentation, Legal & Escrow: $749 (Due at tease Signing) First Annual tease Payment Due Nov 11,203.3 Benefits of This Lease • Interest Rates are FIXED today, for the term of the lease • Unlike bonds, our leases do not create balance sheet debt. • tease —to -Own Ownership passes at delivery. No buyouts at lease end; continue using the equipmentforeverat no additional cost. • La_ rser Leases = Lower Rates. Aggregate vehicles & equipment from other departments to receive even lower interest rates. "Pay As You Go" Municipal Financing for State, County & Local Governments... it Just Makes Sensel Our municipal leases are "pay as you go" financing. Leases match cash expenditures over a period of years, to your tax receipts, budgets or grants received - -aver a period of years! "Cash flow friendly" payment options Include Monthly Qua rterl Semi - Annual or Annual payments due at closing or deferred up to 12 months. Why pay In advance for essential new equipment that only depreciates in value? Apples & Oranges? Every assumption above: first payment due date, down payment amount, deposit, payment frequency and vendor funding dates will affect rates. Make sure that you are comparing "apples & apples," even a few days one way or the other can make a BIG difference. Non - Appropriation Language Required? No Problem! First Capital government leases include "non - appropriation" language wherever required by state or local law. Unlike bonds, if funds are not appropriated in any subsequent budget year for any legal reason, this lease can be terminated and the vehicles /equipment returned to us. You can also prepay after any budget year (with prices locked -in up front), per the payoff schedule included with your lease. Questions? Please call me at 800 -S41- 0114 x -151 Quotation Acceptance j Rate Lock Regards, (Circle Preferred Term AND Pa Yme n- Abo &1 r //7fJWltt Approved By: Vice President Government Finance Sob _LeaseExnertsxom Title:g�,i {r- { Date: IMPORTANT NOTES This is a quotation only and is subject to applicable state & local laws. Lease payments and final terms ore subject to credit -based revrew, vendor and equipment approval, and are subject to change. The contract documents contain ALL applicable lease terms & conditions as approved. State, county & municipal entities must qualify as tax- exempt debt issuers under IRS Section 103 of 1986, as amended. This offer assumes that Lessee's total tax exempt debt for the lease origination year will be under the I.R.S. $10 million limit. (Other options available) All equipment Is assumed to be NEW unless otherwise noted herein. (Used equipment may be subject to independent voluation /inspection at Lessee's expense). interest quoted is the nominal annual rate. TiME IS OF THE ESSENCE Executed contracts must be received by First Capital within 14 days after which we reserve the right to adjust the payment and /or interest rates based on changes in transaction timing and /or our cost of funds. (Adjustments, when necessary, will favor retaining the quoted payment amount.). This quotation assumes no material omissions or inaccuracies in the information provided for this quote, in the credit application, financials or Lessee's credit and no material changes in the equipment described, prior to funding. Payments do not inch vendor progress payments, required Insurance, title, taxes, tags, maintenance, delivery or installation, unless specifically included herein. Vendors are paid by bank check or wire transfer immediately after our receipt of 1) Lessee's unqualifted acceptance and 2) our receipt of Lessee's faxed Payment Request Form, proof of Insurance & vendor Invoice(s). First Capital Equipment Leasing Corp. does Dot act as o municipal advisor or municipal financial consultant. Prospective lessees should consult their own municipal tax advisors and legal counsel as required. 01985 -2013 Copyright First Capital Equipment Leasing Corporation. All rights reserved. REV 090613 Lease No.:09261 Equipment Schedule: O1 ACCEPTANCE CERTIF[CATE I,the undersigned,hereby certify that I am the duly qualitied and acting officer of Lessee identitied below and,with respect to the above referenced Equipment Schedule and Lease,that: l. The Equipment described below has been delivered and installed in accordance with Lessee's specifications, is in good working order and is fully operational and has been fully accepted by Lessee on or before the date indicated belo�v: �1)One new 2013 Sutahen Custom Heaw Dutv Rescue Pumper Truck 2. Attached are (a) evidence of insurance with respect to the Equipment in compliance ��ith Article VII of the Agreement; (b) Vendor invoice(s) and/or bill(s) of sale relating to the Equipment, and if such invoices have been paid by Lessee, evidence of payment thereof(evidence of of�icial intent to reimburse such payment as required by the Code having been delivered separately by Lessee);and(c) financing statements executed by Lessee as debtor and/or the original certificate of title or manufacturer's certificate of origin and title application, if any,for any Equipment which is subject to cectil�icate of title laws. 3. Rental Payments shall be due and payable by Lessee on the dates and in the amounts indicated on the Payment Schedule attached to the Ec�uipment Schedule. Lessee has appropriated and/or taken other lawful actions necessary to pcovide moneys sufficient to pay all Rental Payments reyuired to be paid under the Lease during the cun•ent Fiscal Year of Lessee. Such moneys will be applied in payment o1'all such Rental Payments due and payable during such cuirent Fiscal Year. Lessee anticipates that sufficient funds shall be available to make all Rental Payments due in subsequent Fiscal Years. 4. Lessee hereby authorizes and directs Lessor to fund the Acquisition Cost of the Equipment by paying,or directing the payment by Escrow Agent(if applicable) of, the invoice prices to the Vendor(s), in each case as set forth above, or by reimbursing Lessee in the event such invoice prices have been previously paid by Lessee. �. No event or condition that constitutes, or with notice or lapse of time, or both, would constitute, an Event of Default(as detin � in the Lease)e�ists at the date hereof 1 6. Final Acceptance Certificate. This Acceptance Certificate constitutes final acceptance of all of the Equipment identitied in the Equipment Schedule described above. Lessee certifies that upon payment in accordance �vith paragraph 4 above, or direction to Escrow Agent (if applicable) to make payment, Lessor shall have fully and satisfactorily performed all of its covenants and obligations under the Lease. [CHECK BOX IF APPLICABLE.] VILLAGE OF TEQUESTA,FL, Lessee By: •o� 'c%• :.r�aJ Name: Ny chael Coikzzo Title: Village Manager Date: p�_ '�. �`J'J_� 10/24/2013:BQ-ESGSIB.DOC/rev.01/12.stl Lease Number: 09261 Equipment Schedule:001 EXHIBIT A PAYMENT REQUEST FORM NO. SUNTRUST BANK,as Escrow Agent under an Gscrow Agreemcnt dated as of October 29,2013 (the"Escrow Agreement") by and among Escrow Agent, SUNTRUST EQUIPMENT FINANCE& LEASING CORP.,as Lessor,and VILLACE OF TEQUESTA, FL, as Lessee, is hereby requested to pay, trom the Equipment Acquisition Pund, to the person or entity designated below as payee, that amount set forth opposite each such name, in payment of the Acquisition Costs of the Equipment designated opposite such payee's name and described on the attached page(s). The teims capitalized in this Payment Request Fom�but not defined herein shall have the meanings assigned to them in the Escrow Agreement. 1'avee Amount Equipment ��l�e�� . � �-I��, k_3a, ��1 �i) ��;:�i�� ,��i� �h�e�� n�� ? �, i?�ox �S� /�mli r� , C � �13 C�C?�. i ��;i�E �n�-o. t��e N-�:D) Lessee hereby certifies that: 1. Attached hereto is a duplicate original or certitied copy of the following documents relating to the order, delivery and acceptance of the Equipment described in this Payment Request Form: (a4'a manufacturer's or dealer's invoice; and (b) unless this Payment Request Foim relates to partial payment of a Vendor, as defined in the Lease, in connection with a purchase ordcr approved by Lessor,Lessee's Acceptance Certificate relating to the Equipment..%' 2. The representations and warranties contained in the Lease are true and correct as of the date hereof: 3. No Non-Appropriation or Event of Default,as each such term is defined in the Lease,or event which with the giving of notice or passage of time or both�vould constitute an Event of Default,has occurred. Dated: C�L • '`"� ,20 �.'S VILLAGE OF TEQUESTA,FL, SUNTRUST EQUIPMENT FINANCE& Lessee LEASING CORP., Lessor BY; � ,,°"- ��.� By: Name: _.— _.— �_�;� Name: Title: �f " �.t.i r ,,�� y� Title: Date: �� Date: ionaizoi3 aQ-escisTS.�oa�e�miiz.sd ;�\,��?t?`'�.� � r� 4 �� SUTPHEN FAMILY OWNLll SINCE 1890 Information for wiring funds to Sutphen Corporation. Company Name Sutphen Corporation Account Number 7282794572 Bank Name Fifth Third Bank ABA Number 042000314 Revised 9/15/2009 Sutphen Corporation PO Box 158 • Amlin, OH 43002-0158 6450 Eiterman Road • Dublin, OH 43016-8711 Tel 614 889-1005 • Toll Free 800 848-5860 • Fax 614 889-0874 , INVOICE � �� + � t Sutphen Corporation PLEASE REMIT TO: DATE: NUMBER: � PO Box 158 Sutphen Corporation Amlin, OH 43002 PO Box 631603 10/21/13 HS-5319-1 Tel 614.889.1005 800.848.5860 Cincinnati,OH 45263-1603 Fax 614.889.0874 www.sutphen.com co py - SOLD TO: Village of Tequesta Vin Number: 1S9A1HND5D1003124 345 Tequesta Drive Tequesta, Florida 33469 ORDER NO: DATE: CUSTOMER'S PO#: SALES REP: PREPARED BY: TERMS: HS-5319 01/24/13 2972 David Stonitsch JS Payable in full upon delivery. ITEM/DESCRIPTION: AMOUNT: One Sutphen Custom Shield Pumper $ 432,832.54 NOTE: TO INSURE PROPER CREDIT TO YOUR ACCOUNT, PLEASE RETURN ONE COPY WITH PAYMENT AND SHOW INVOICE NUMBER ON YOUR CHECK. E�e AA.F�bridc �� 410�307-8749(1') S�� 41a307-8885(F7 e�ie.fabdcltlE�uMrttat.eom BunTn�t EqulpnreM Finaece 8 Le�ing Cor�SOraUon 3DO Eaat Jop�lioed,$uite 700 Towaon,AQD 21286 AFFIDAVIT OF FACTS Date Issued: NovemUer 16,20Z3 . VEHICLE DESCRIPTION: 2013 SUTPHEN SffiELD — VIN: l.S9A1H'ATDSD1003124 TO WHOM IT MAY CONCERN: This is to advise that��mTrost Eqeapment Fi�nce&Leasing Corp and/ar it4 assigns was pla�ed on the Certificate of Origin as Lienholder for the al�ve-referenced vehicle in error. We do not pYac,� our lien on vehicles for muaicipalities in the slate of Flcmida. SUNTRUST LQUIPMENi'FINADTCE J�LEASIl�TG CORF . ` _,� .`� , �Y) Elsie M.Fabrick City/Coanty:Carrall Counts+ 5t�te•MD 5ubscribexi and swora to before me this Novam er 18.2Q13 , Co mati Public � My Commissian Expims: March l3,201�i H.-�ElsieIESCROq�:�1NDSCELIJ�INEOU�A�idavit of S��t ofF�(Villege af Teque�te,FI,)I 1-18-13.d�