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HomeMy WebLinkAboutDocumentation_Regular_Tab 15_11/14/2013 � y � ?� �� �� VILLAGE OF TEQUESTA �� �� ���;;'.• AGENDA ITEM TRANSMITTAL FORM i ��� , "1�`�' �y<� f � : � � �P 1. VILLAGE COUNCIL MEETING: � �� I Meeting Date: Meeting Type: Regular Ordinance #: :�':ul< !...,.., ... : nTar }.u;c:. Nov 14, 2013 Consent Agenda: Yes Resolution #: 40-13 Originating Department: Fire/Finance 2. AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report) Amend Resolution #32-13 and approve a tax exempt lease purchase agreement with SunTrust Equipment Finance & Leasing Corporation for the lease purchase of a new pumper truck 3. BUDGET / FINANCIAL IMPACT: Account No; 001-192-664.600 Amount of this item $432,843.54 Current Budgeted Amount Available: Amount Remaining after item: $432,850 N/A Budget Transfer Required: No Appropriate Fund Balance: No 4. EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item) Amend Resolution #32-13 and approve Resolution #40-13; approving a tax exempt lease purchase agreement with SunTrust Equipment Finance & Leasing Corporation for the purchase of a new pumper truck in the amount of $432,843.54. 5. APPROVALS: �. � > ��' Dept. Head: Finance Director: , � Attorney: (for legal sufficiency) �i� ����-�l".��.��� Yes ❑ No ❑ Villa e Mana er: �%� '._.-s�� f �� � � �� ' `�� � ,� 9 9 ���� , - .l� � �� � r=' /��Le ��C.< < ,/�'%i�!t�:.���1 �r�� i� /� �e� � � J � / � � '�� /�� y �� J �� • SUBMIT FOR COUNCIL DISCUSSION: ❑ �-�-�- ,: ,�� • APPROVE ITEM: ❑ • DENY ITEM: � RESOLUTION NO. 40-13 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AMENDING RESOLUTION NO 32-13 AND APPROVING A TAX EXEMPT LEASE PURCHASE AGREEMENT WITH SUNTRUST EQUIPMENT FINANCE & LEASING CORP. FOR THE PURCHASE ONE NEW PUMPER TRUCK IN THE AMOUNT OF $432,843.54 AT AN ANNUAL INTEREST RATE OF 2.423% TO BE FINANCED OVER NINE (9) YEARS WITH TEN (10) PAYMENTS, AND AUTHORIZING THE VILLAGE MANAGER TO EXECUTE THE APPLICABLE CONTRACT ON BEHALF OF THE VILLAGE; PROVIDING AN EFFECTIVE DATE, AND FOR OTHER PURPOSES. WHEREAS, the Village of Tequesta desires to finance the purchase of its new fire pumper truck, which is deemed essential for the Village to perform its governmental functions related to the provision of fire rescue services; and WHEREAS, three bids to finance the purchase of said fire pumper truck were received by the Village, with First Capital Equipment Leasing Corporation, acting on behalf of SunTrust Equipment Finance and Leasing Corporation being the bidder who offered the lowest interest rates; and WHEREAS, the Village Council desires to finance the purchase of said fire pumper truck through SunTrust Equipment Finance and Leasing Corporation. NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS: Section 1: The Village Council hereby adopts Resolution #40-13 amending Resolution #32-13 and approving a tax exempt lease purchase agreement with SunTrust Equipment Finance & Leasing Corporation for the purchase of a new pumper truck in the amount of $432,843.54. Section 2: The Village Manager is authorized and directed to execute any and all applicable contracts and other documents on behalf of the Village as necessary to effectuate the intent of this Resolution. Section 3: This Resolution shall take effect immediately upon adoption, and shall further serve as authorization for documents previously executed by the Village Manager for the purposes of effectuating the intent of this Resolution. �adJ��J'�"�+t�l� I�T�I. 3���� .� I��I,�'C"�[�T� �Y+' '�`�'�IL�A�� +��9tlNNt�[. +(�� '�C:� ��GE Q��' '�`�C���'"�.�,, �AA.�I� �J'�A+C�I' rCf3�l'"�"'�', FI..�.?�DA�., �'�"l�.€�V�I� .� '�'A►� ��:t'��'�' LE�SE Pi.11t�l�� ��.�C��!!�'�" �7C� �'�'I' �.�,�'�'.�',�4..L �Q�l�� I���lt�� +C�D�"��.'�'IUI�i FC�R a �'�7R���� ((�N.� lY�'VV lPUl1�I� Ti�� � "�`� ��} {{��' ���2,�t�.5� A`�' .A� .A►i�LT� �1'� �.�'� �F 2�4�'!� ° �E �ax.���� .���t �� ��o� �� �°°�� n�r�� �v ��� �.�r�,��a ��a� �.��, �► �.���o�� � � v�L��.�� ��r���� �� ���°� T� �����c L� A.i'F A. J,l.l'D,�� 1J1�7 ���R` �k' 1 E1gJ Y��Vf.$It . .. '�'4�t�+;Y'�A,�, �.xe Villa�� of T�ue�a s�ks tc� fi��zce t�� purcl.ia�e a�e�r fi� purn�r tr�c� an�; '����.�� ti�e bids ts� f�zaxace tlx� �xuck �ur��e w�re x�i�r� and Fi.r�t Capi�I F.��i.pam�nt Leasira� C�r�tic�n of�'�z°�d t�a� lo�u�s� int�r�t rates; 1'i� sfY y ,Y R�..0.'x�SC �%�.�ry .S.AElr i 1'IPIb�@I.CAtIi'h�a`.r� � Y E i A.H..lRtt��.H:,+ �Y�,.IiW S`q'LrY.S.+ i.dPi` Y R�JC3'lYls �1,➢36' A..6a�6Ji`r�?.R.f'143 I"�11'J. Ai1Gr.tA ��1 S. g .0.A,R,SF/.�@p l'A�.7 ,E 0..pA.lA.df�1 Y9 A�7i . . . . . S�c `l�� �il.la�e Caexnci� hez�by ac�apt� ��aluCi�rr �32-t� ap�rov� a tax exez�pt 1eas� purc:(�se agreeme�t with �'i.zst Capit,al Fs�,�uipment �a� �orpor�t-ian �'or t��e pur��hass af � new �um�r truck in th� �m�ua�t o�' �432,�43.54 Wlt�l ���E'tIS t��111� 1xi "���31.131t �.". i F-tEl�kBY G��T1F'Y �'�� ��C3�� �filD r\��ry�tl`l�y9l�i31111�117t �OR�GC?{NG t� A Tf�U�. AND CC}RRECT , �*,,�,.��,�'`' �PY APPEAftl3�S� FROM Tt REC�3R�S �.`�`�� �.� `� ��. ��1� Vt�l�AG� CI.ERK'S C��FI�� ViLLAG� .`.�: ��'�� � �QIJESTA, ��C7R1D;� AND ����� � •' �'�230d�D�N���f�( CH� t3t=FIC!!�L S�AI� �H15�� ---- � .�:'•. �'� �� ��,�- .��. �� � � � �f� � ...-�. ;`,`�cP'��{ , > p,' � / '� �� " L�RI MG�VIL�IAMS: ��SLIwAG�' CL_EFiK l�.�/ �, �� •'✓ /{�•/fp'1��..���'� 4J /;,..,, �.�itN` �''he f�rcgaing Resolration was offered by Cauncii ]t%��mb�r Paterna who moved it� adoption. The motion was s�condad by �auncil M'�mbe� t7kun a:nd upon beiu�; put to a vote, th� vat� was as follaws. Fqr Adnption A�;ainst Adoption Mayor Abb� Bi•er�nars X Vice-11!Iayor Vince Arena � Cou�cil 1�Iember Sfieve �kt�n: X Council Member �"am Paterno ,x Council 1Vlember Frank T7'�cnbra �lbsent The �ayor thereupan declared the Resc�lution duly passed anci adopie� this 1�`�' day of tOetober 20t3. ,MAYOR �F TE�[TE�TA ,,,,, .---. / �� � . Abig l grennan �TTEST: ��l�- Yl'�;C,� ,�����„„�,,,, V�,� Lori McVJilliams, MMG ,�� .t ��''�o Villa�;e Clerk "�� � ��C7� rc� ;,. 'C�: �:.a `b i�"1 ro o :,- �,, � f-�- a �?. ry ,�`y ° , ,,'AiO� a �j ��E.7 •,,���� • .. „� � ��'��cnunl�t�a�"'` 1 7 Forsythe, Jody From: Keith Davis [Keith@cwd-legal.com] Sent: Thursday, November 07, 2013 12:56 PM To: Forsythe, Jody Subject: Nov 2013 Resolution 40-13 financing of Sutphen Fire Pumper -Sun Trust KWD Attachments: Nov 2013 Resolution 40-13 financing of Sutphen Fire Pumper -Sun Trust KWD.docx Jody: Please see the attached revised resolution. My e-mail address has changed. The new e-mail address is keith(�a,cwd-le�al.com. Please be sure to update your records accordingly. Thanks! Keith W. Davis, Esquire ��� %��ife� a.nal��a �� Tel: (561) 586-7116 Fax: (561) 586-9611 Email: keith(a),cwd-le�al.cam i