HomeMy WebLinkAbout12/08/2009 15 Laser Printer and Copier Lease - Purchase Agreement/US Bancorp Business Equipment Finance Group BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT - •
Item No. *1S'
For Meeting Of 12/08/09
ITEM TITLE: A Resolution approving and authorizing a new lease for two high speed
Laser Printer/ Copiers pursuant to the Municipal Lease /Purchase Agreement
with US Bancorp Business Equipment Finance Group
SUBMITTED BY: Rick Pettyjohn, Information Systems Manager 575-6098
CONTACT PERSON: Jon Lorberau, Treasury Services Officer, 575-6024
SUMMARY EXPLANATION:
Inforrriati on Systems has replaced two old Savin Laser Printer/Copiers in the City print shop with
two new OCE VarioPrint 1105 Laser Printer/Copiers. The old printers were approximately six
years old, were failing frequently and seriously disrupting work. Though the printers were •
covered by a maintenance agreement, the cost of this agreement was very high and the'
interruptions of service were costly. The City is executing a new lease to replace the lease that
expired on the old machines. Based on existing printing volumes, the new printers will result in
reduced 2010 expenditures from the 2009 expenditures due to the substantial reduction in
maintenance contract costs. There will be additional savings in reduced down time and in
ttilization of the new features included with the new printers.
The attached Resolution authorizes a lease/purchase arrangement for the copiers pursuant to the
US Bancorp's Municipal Lease Purchase Agreement. Financing will be provided under this
agreement as per the payment schedule in the attached lease agreement. This is a five-year
installment agreement at an interest rate of 4.85%. Monthly payments will be $958.93 for an
annual amount of $11,507.16 which is less than the annual payments of old lease. Three bids from
Key Bank, US Bancorp and Leaf Municipal Leasing were reviewed and US Bancorp offered the •
best balance of rate and term. This loan will close in December and documents will be finalized
before December 10th, 2009.
This is a housekeeping transaction to complete the financing of the new printer/ copiers. The 2009
and 2010 Information Systems' Budget contains sufficient appropriations for. the Capital Lease
expenditures and Debt Service expenditures for this transaction.
Resolution XX Ordinance Other (Contract) Municipal Lease Purchase Agreement
Mail to (name and address): US Bancorp Business Equipment Finance Group
APPROVED FOR SUBMITTAL: .
- - ) City Manager
STAFF RECOMMENDATION: Approve Resolution
BOARD/COMMISSION RECOMMENDATION:
'OUNCIL ACTION:
RESOLUTION NO.
A RESOLUTION of the City of Yakima, Washington, approving and
directing the City Manager to execute the attached Municipal
Lease / Purchase Agreement with US Bancorp Business
Equipment Finance Group for the lease of two high speed Laser
Printer/Copier machines.
WHEREAS, the City has determined that it was necessary to replace two old
Savin Printer/Copiers with two new Oce Printer/; and
WHEREAS, the City has determined that it is advisable to lease the Oce
Printer/Copiers through a lease/purchase agreement with US Bancorp;
NOW, THEREFORE, BE IT RESOLVED by the City of Yakima, Washington, as
follows:
Section 1. Approval of Documents. The proper officers of the City are
hereby authorized to execute the attached Municipal Lease Purchase Agreement and
accompanying exhibits on behalf of the City of Yakima, in substantially the form
attached hereto. The above-listed agreements shall be amended only with the approval of
the City.
Section 2. Authorization of Documents. The City Manager is hereby
authorized to execute the documents relating to financing the copy machine. The City
Manager, Director of Finance and Budget, and each of the other appropriate officers,
agents and representatives of the City are each hereby authorized and directed to take
such steps, to do such other acts and things, and to execute such letters, certificates,
agreements, papers, financing statements, assignments or instruments as in their
judgment may be necessary, appropriate or desirable in order to carry out the terms and
provisions of and complete the transactions contemplated by this resolution.
Section 3. Prior Acts. All acts taken pursuant to the authority of this
resolution but prior to its effective date are hereby ratified and confirmed.
Section 4. Effective Date. This resolution shall be in effect from and after its
adoption in accordance with law.
ADOPTED by the City Council of the City of Yakima, Washington at a regular
meeting thereof, held this 8th day of December, 2009.
CITY OF YAKIMA, WASHINGTON
Dave Edler
Mayor
ATTEST
City Clerk
APPROVED AS TO FORM:
City Attorney
Jcl Lease Resolution Dec 2009
COVER LETTER
EV bank. AGREEMENT #
Five Star Ser ice Guaranteed *+y
�*� 1223521
I .._
*** IMPORTANT DOCUMENTS FROM ***
U.S. Bancorp Business Equipment Finance Group
CUSTOMER NAME: YAKIMA CITY OF
ATTN: RICHARD ZAIS JR
E -Mail:
FAX NUMBER:
If you have a thermal paper fax machine, make photocopies of the document and discard the fax
pages.
If you have a plain paper fax, there is no need to make copies.
* Make sure the equipment listed is that which you choose to finance.
* ** PLEASE NOTE * **
Make sure that all signatures are "ORIGINAL" and written in INK.
,y ` Once completed, fax the following documents to 800 - 621 -3213. Once your fax is received your
order will be expedited.
✓ Signed Documents
E Authorizing Resolution or Board Minutes authorizing the financing
r) Legal Counsel Opinion
r; Federal Tax Form 8038
` l Origination Fee of $400.00
Master Insurance Policy showing equipment coverage
r' (Must list equipment covered & show us as Toss payee)
r; Second signature if payment is over $1,200.00
Please overnight these Original documents to:
U.S. BANCORP BUSINESS EQUIPMENT FINANCE GROUP
ATTN: DOCUMENTATION DEPARTMENT
1310 MADRID ST SUITE 106
MARSHALL MN 56258
PHONE 888 - 333 -4778
FAX 800 - 621 -3213
10339 REV06/07 1
MUNICIPAL LEASE
PURCHASE AGREEMENT
1:V bank. AGREEMENT #
Far Star Sankt Guaranaacd e
1223521
This document is written in "Plain English ". The words you and your refer to the customer. The words Lessor, we, us and our refer to . ; - r • I. _ = >- . , u < it -,,- ,.
Group. Every attempt has been made to eliminate confusing language and create a sample easy-to-read document.
GUS TOMER°IN FOR MATION -, ; °, a . .":. , J ,- 4...::. , ..; - •.. Fr ' r # 7 ..30„
FULL LEGAL NAME
YAKIMA CITY OF
- 129 NORTH SECOND ST
CITY /STATE/ZIP PHONE
YAKIMA, WA 98901 (509) 575 -6000
FEDERAL; TAX II} #; E-MAIL
SUPPLIER16VFORMATION,• .. , , . • ; - ... , ;,, ', :. . "nmm . j e y.
.., , '"
SUPPLIER NAME STREET ADDRESS
OCE IMAGISTICS INC 801 WEST YAKIMA AVE
CITY/STATE/ZIP PHONE FAX
YAKIMA, WA 98902 (509) 575 -0734
OCE VARIOPRINT 1105 LASER PRINTER/COPIER
OCE VARIOPRINT 1105 LASER PRINTER /COPIER
LEASE TER -- c x. _ ' - LEASEiRMIMENT AMOUNT a ,..: > err ;' ? '
Term in Months 60 Payments of $ 95$.93
•
60 (Plus Applicable Taxes) $0.00
(mos.) Lease Payment Period is Monthly (Pius Applicable Taxes) •
Unless Otherwise Indicated_
THIS IS A NONCANCELABLE 1 IRREVOCABLE AGREEMENT, THIS AGREEMENT CANNOT BE CANCELED OR TERMINATED. '
• TERMS AND)CONDITIONS .N: 4 : i.: . . z....'.. , r:a;s { ft l ` x
.
described We hereby lease to You, the personal property (the 'Equipment') above, on any attached Exhibit A, or in any subsequent schedules which may hereinafter be made a part hereof, upon the following terms
and conditions:
1. TERM AND RENT: The term of, and the rental amount ('Rental Amount") due under this Municipal Lease Ricotase Agreement (°Agr•ement') shalt begin on the Acceptance Date noted below or as specified on an
attached Property Acceptance Carficte (ExhiblI C) and continue for the term set above unless earlier terminated per paragraph 18 and end on the date all payments II payments on Exhibit 8, or in any subsequent
schedules which may hereafter be made a part hereof, have been made. This Agreement will be deemed automatically renewed by Lessee each year (Lessee's fiscal year) unless earlier terminate.{ by Lessee due to
ronappropriatan as provided in Paragraph 22 herein. .
The Rental Amount includes specified amounts of principal and interest due on a specific date. Upon full payment by You of the entire Rental Amount including interest due 00 this Agreement, the security interest held
by Us and our successors or assigns shalt be released. If any payment (or portion thereof) is not paid when due, it win incur a monthly late charge of 1.5% of the payment amount or the maximum amount permitted by
law, whichever is less_ You covenant to pay all Rental Amounts when due, and to perform all other covenants contained in this Agreement. Lease payment obligations are absolute and unconditional and are not
subject to cancetatian, tedudion. seto8 or counterclaim except as provided in Paragraph 18 herein
2. COVENANTS OF CUSTOMER: You warrant and represent as totems: (a) You am a body politic and Nave siatttay authority to enter into this transaction and you carry rut its obligations; (b) You have authorized
the execution of this Agreement by Your appropriable officials; (c) You have, in accordance with the requirements of taw, fully budgeted and appropriated sufficient unexhausted and unencumbered funds for the current
budget year and to meet Your other abtgdiars under this Lease for the current budget year. and those funds have rot been expended for other purposes; (d) the Equipmmrt is essential to Your proper, efficier8L
economic and continuing operationand will be used for Your general business; (e) You have never failed to appropriate or otherWISe make available funds sufficient to pay renter or other payments coming due under
any lease purchase, installment sale or other simile,' agreemert; (1) You warrant this Lease as a 'bank qualified ax- exempt obligation' as defined in Section 285(bX3X8) of the Internal Revenue Code and represent
that the aggregate face efficient at all tax - exempt obligations (excluding private activity bonds other than quaffed 501 (C)(3) bonds) issued or to be issued by You and Your subordinated entities during the calendar
year in which We fund this Lease is not reasonably expected to exceed $10000000; and (g) You and at of Your subordinate entities will not issue in excess of $10,000,000 of qualified tax- exempt obligations
{atcluding this Lease but excluding private edivey bonds other that qualified 501 (C)(3) bonds) during the calendar year in which we turd this Lease wshout first obtaMing an option of national recognized courses in
t area of tax-exempt municipal obligations acceptable to Us that the designatiorof this Lease as a 'bank qualified tax - exempt obligation' will not be adversely affected.
N e
Your initials (Continued on the reverse side)
L ESSORA � CCEPTANCE . 'b :. :: t
U.S. Bancorp Business Equipment Finance Group •
DATED LESSOR SIGNATURE TITLE
CUSTOMER :AGO E) TANCE . .- v - .: -': :: ,, }V ° "` a} I' x
YAKIMA CITY OF CITY MANAGER
DATED CUSTOMER SIGNATURE RICHARD ZAIS JR TITLE
YAKIMA CITY OF
DATED CUSTOMER TITLE
ACC EP'TA: QED FiDELIV:ERY' ; rt :''.. * '- , x. .,: . ,k ^: " ^' r -i, lit "" t ' Tl f
You certify that all the equipment listed above has been furnished, that delivery and installation has been fully completed and satisfactory. Further, ail conditions and terms of this Agreement have • -
been reviewed and acknowledged. Upon your signing below, your promises herein will be irrevocable and unconditional In all respects. You understand and agree that we have purchased the '
equipment from the supplier, and you may contact the above supplier for your warranty rights, which we transfer to you for the term of the agreement. Your approval as indicated below of our p
of the equipment from the suppler is a condition precedent to the effectiveness of this agreement.
YAKIMA CITY OF CITY MANAGER
DELIVERY DATE CUSTOMER SIGNATURE RICHARD ZAIS JR TITLE
10254 REVO2J08 2
3. TITLE: Title to the Equipment shall pass to You upon acceptance of delivery conditioned upon Your complete and full performance of Your undertakings as provided in this Agreement and also conditional upon
fully payment by You of the entire Rental Amount including interest due on the Agreement. Upon Your full performance, we will release Our interest in th equipment for.the nominal price of $1.00.
4. EQUIPMENT INSPECTION, LIENS, PERSONAL PROPERTY and TITLE: You have fully inspected and acknowledged that the Equipment is in good condition and repair, and that You are satisfied with and have
accepted the Equipment in such condition. You will not create or assume any mortgage. pledge, lien, encumbrance, or claim on the Equipment, and will. at Your own expense. discharge any such claim. The
Equipment is. and will at all times during the Agreement Term remain, personal property. Title to the Equipment has been conveyed to You during the lease term in retum for periodic payments, subject to the terms
nditons herein.
RRY INTEREST: To secure payments and observance by You of the covenants expressed or implied herein, You grant a security interest in and a Gen on the equipment to Us, our successors and assigns.
1
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LAY AND MAINTENANCE: You will use the Equipment in a careful and proper manner, in compliance with all applicable laws and regulations. Equipment is to be used by You exclusively and not subleased,
loaned or otherwise used by entities other than You. At Your sole expense and cost, You will maintain the Equipment in good repair, condition and working order and in compliance with manufacturers suggested
maintenance and so as to maintain manufacturers and /or suppliers warranties.
7. DAMAGE OR DESTRUCTION OF EQUIPMENT: You hereby assumes and bears the entire risk of loss of and damage to the Equipment, whether or not insured from any and every cause whatsoever. No loss or
damage to the Equipment or any part thereof shall impair any of Your obligation under this Agreement. which shall continue in full force and effect. If the Equipment is partially last, stolen, damaged or destroyed, You
will promptly repair and restore it to working order. If net insurance proceeds (including proceeds of set- insurance) are not sufficient to pay for repairs, You will nevertheless complete the work and pay the costs. You
are not entitled to reimbursement or to any reduction of the payments or other amounts payable pursuant this Agreement If the Equipment is totally lost, stolen, damaged or destroyed, You shall pay to Us or Our
assignee a sum equal to the applicable remaining °Principal Balance' plus interest as stated on Exhibit B, it paid later than as regularly scheduled.
8. DISCLAIMER OF WARRANTIES: WE MAKE NO WARRANTY EXPRESS OR IMPLIED, INCLUDING THAT THE EQUIPMENT IS FIT FOR A PARTICULAR PURPOSE OR THAT THE EQUIPMENT I5
MERCHANTABLE. YOU AGREE THAT YOU HAVE SELECTED THE SUPPLIER AND EACH ITEM OF EQUIPMENT BASED UPON YOUR JUDGEMENT AND DISCLAIM ANY RELIANCE UPON ANY
STATEMENTS OR REPRESENTATIONS MADE BY US OR ANY SUPPLIER. WE DO NOT TAKE RESPONSIBILITY FOR THE INSTALLATION OR PERFORMANCE OF THE EQUIPMENT. THE SUPPLIER IS
NOT AN AGENT OF OURS AND NOTHING THE SUPPLIER STATES CAN AFFECT. YOUR OBLIGATION UNDER THE LEASE. YOU WILL CONTINUE TO MAKE ALL PAYMENTS UNDER THIS AGREEMENT
REGARDLESS OF ANY CLAIM OR COMPLAINT AGAINST SUPPLIER.
9. INSURANCE; INDEMNIFICATION: During the term of this Lease, You will keep the Equipment insured against all risks of kiss or damage in an amount not less than the replacement cost of the Equipment without
deductible: and without co- insurance. We will be the sole named loss payee on the property insurance. We will be named additional insured on public liability coverage. You will pay all premiums for such insurance
and must deliver proof of insurance coverage satisfactory to Us_ If you do not provide such proof of such insurance before the Lease commences, You agree that We have the right but no obligation, to enroll you in
our property damage coverage program and bill You a property damage surcharge to in part cover Our increased admirstrative costs, credit risk and other costs and on which We may make a profit. Nothing in this
paragraph will relieve You of the obligation to provide public liability coverage.
10. SURRENDER OF EQUIPMENT: Upon termination of this Agreement You shall return the Equipment to Us in good repair, condition and working order, ordinary wear and tear resultirg from proper use thereof
alone excepted, and have been maintained in accordance with Paragraph 6. In the event of early termination of this Agreement You will return the Equipment in a condition that permits Us to be eligible for the
manufacturers or supplier's standard maintenance contract without incurring any expense to repair or rehabilitate such Equipment. You will transfer ownership and title to the Equipment to Us and guarantee and
• indemnify clear title. You, at your own expense, shall deliver the Equipment to such place as specified by Us.
11, TAX INDEMNIFICATION: If You lose Your eligibility for the 'Small Issuer Exemption' during the calendar year or this transaction is deemed by any taxing authority not to be tax exempt from federal and/or slate
income taxation. You agree the implicit interest rate and corresponding monthly interest payment in Exhibit B will be increased to preserve Our originally anticipated yield.
12. TAXES: Unless You have provided Us with evidence of an exemption, You agree to pay any license or registration fees, gross receipts, taxes, assessments, charges and sales, use, property, excise and other
taxes imposed by any governmental agency upon the Equipment. Any fees, taxes or other lawful charges paid by Us or Our assigns for You shatl become immediately due from You to Us or Our assignee including
any transfer and taxes pursuant to Paragraph 11. You further agree to pay us an origination fee on the date of the first lease payment due to cover the expense of originating the agreement.
13. EVENTS OF DEFAULT: The default by You under any term, covenant or condition contained herein which is not cured within ten days after written notice thereof nom Us, shall, at Our option, terminate this
Agreement and Your right to possession of the Equipment •
14. REMEDIES ON DEFAULT: Upon termination of this Agreement, We may without notice to or demand upon You, except as stipulated in paragraph 18, pursue one or more of the following remedies: (a) Take any
necessary or desirable action to coiled all payments due under this Agreement or to enforce performance of any obligation, agreement or covenant of You under this Agreement. including payment of any amounts
which they fail to pay (such as insurance premiums, costs or repairs, taxes). We and Our assigns will also be entitled to recover all costs and expenses, including attomey's fees. incurred in connection with the
enforcement of any rights or remedies of Our or Our assigns against You. (b) To sue for and recover all rents, and other payments, then accrued or thereafter accruing, with respect to any or all items of equipment.
take possession of any or all items of equipment, wherever same may be located, without any court order or other process of law. You hereby waive any and all damages occasioned by such taking of
ion. My said taking of possession shall not constitute a termination of this Agreement as to any or all items of equipment unless We expressly notifies You in writing. (d) To terminate this Agreement as to any
ms of equipment. (e) To pursue any other remedy at law or in equity. Notwithstanding any said repossession, or any other action which We may take, You shall be and remain liable for the full performance of
cations on the part of You to be performed under this tease. All such remedies are cumulative, and may be exercised concurrently or separately.
15. CONCURRENT REMEDIES: No right or remedy of Ours is exclusive of any other right or remedy. Each is cumulative of every other right or remedy given, or now hereafter existing at law. and may be enforced
concurrently; separately. or in sequence.
16. ASSIGNMENT: You agrees not to sell, assign, lease, sublease, pledge or allow any Ion or encumbrance against any interest in this Agreement or the Equipment without Our prior written consent, which will be
withheld ff (1) it would eliminate or decrease Our tax exempt yield or, (2) it would, in Our sole judgment of the Lessor, diminish the prospects for repayment You agree that Wemay assign, in whole or in part, Our
right, title and interest in this Agreement or the Equipment to one or more third parties and shall be free of all defenses, set-offs or counterclaims of any kind which You may be entitled to assert against Us. Any such
assignee will have Our rights under the Agreement but not the obligations. Any assignee of Us may reassign its interest in this Agreement and /or the Equipment to any other person who, thereupon, shall be deemed
to be Our assignee.
•
17. UNIFORM COMMERCIAL CODE You acknowledge that this Agreement secures a purchase money security interest in su di equipment as set forth and enforceable under the Uniform Commercial code, and
authorizes Us at Our option to (i) file one or more financing statements signed only by Us, or (ii) file a copy of this Agreement with the appropriate state and local authorities at eny time as We shall deem necessary to
fully protect the security interest herein granted to it by You. You hereby authorize Us as secured party or its agent or assignee to sign and execute on its behalf any and all necessary UCC•1 forms to perfect the
purchase money security interest herein granted to secured party.
•
• 10. NONAPPROPRIATION: You may terminate this Agreement if the following events shall have marred:
(a) In the event funds are not budgeted and appropriated in any fiscal year for Lease Payments due under this Agreement for the succeeding fiscal year, or for the acquisition of services, equipment or fundions,
which in whole or in part are essentially the same as those being leased hereunder, this Agreement shall impose no obligation on the Lessee as to such succeeding fiscal year and shall become null and void
except as to the Lease Payments herein agreed upon for which funds will have been appropriated and budgeted, and no right of action or damage shall accrue le Our benefit Our successors and assigns, ter any
•
further payments; •
(b) If the provisions of Section (a) are utilized by You, You agrees to immediately notify Us or Our assignee of this Agreement that funds are not budgeted and appropriated, and to peaceably surrender
possession of the equipment to Us or Our assignee.
(c) You made all payments due during the fiscal period immediately preceding the fiscal period for which sufficient funds were not appropriated.
(d) Any earfy termination due to ronappropriation must be at the end of Your then-current fiscal year.
19. CHOKE OF LAW: JURY TRIAL WARNER This customer will be governed and construed in accordance with the laws of the slate where You are located To the extent permitted by law, You agree to waive
Your eights to a trial by jury.
20. CUSTOMER GUARANTY: You agree to submit these original Equipment Purchase Agreement documents and any related Supplements) to the Lessor or its assignee via overnight courier the same day of the
taxsimile transmission of the Equipment Purchase Agreement documents. Should we fail to receive these origins, you agree to be bound by the faxed copy of this agreement with appropriate signatures on both
sides of the document. Customer waives the right to challenge in court the authenticity of a faxed copy of this agreement and the faxed copy shall be considered the original and shall be the binding agreement for the
purposes of any enforcement action under the paragraph referencing 'DEFAULT AND REMEDIES.'
YAKIMA CITY OF •
Customer Customer
•
w
Signature RICHARD ZAIS JR Signature
CITY MANAGER •
•
Title
•
•
Date Date
10254 REV02/08 3
•
•
EXHIBIT "B"
IlDbank..,
Fire Sur &nice Guaruntned (1,7 AGREEMENT #
1
1223521
Payment and Amortization Schedule:
Equipment Cost $51,000.00
Less Trade-In Allowance
Less Down Payment
Other Costs Financed
Equals Amount Financed $51,000.00
Customer shall pay MONTHLY payments each in the amount of (see attached schedule). The first such payment shall be
due on (see attached), and shall continue on the same day of each MONTH thereafter until the end of the term of this
Schedule.
The INTEREST RATE ON THIS OBLIGATION IS 4.85 %. The payments herein shall be composed of principal and interest.
In the event of changes in the Annual Percentage Rate due to events as outlined in Paragraph 7 of this Agreement (Tax
Indemnification), this payment and amortization schedule shall be modified to Lessors Equivalent Taxable Annual Percentage
Rate in order to preserve Lessor's anticipated after tax yield.
Amortization and Repayment Schedule:
1-5-( IF CHECKED, SEE ATTACHED SUPPLEMENT TO EXHIBIT B FOR PAYMENT SCHEDULE •
PAYMENT DATE PRINCIPAL INTEREST TOTAL PRINCIPAL
NUMBER BALANCE
plus 1 958.93
YAKIMA CITY OF
stomer Customer
itke
, fivq.
Signature RICHARD ZAIS JR Signature
CITY MANAGER
Title Title
Date Date
10332 REV05/09 •
4
SUPPLEMENT TO EXHIBIT 'II'
Lease # 1223521 CITY OF YAKIMA
Payment Interest Principal Balance
Loan 51,000.00
1 958.93 206.13 752.80 50,247.20
' 2 958.93 203.08 755.85 49,491.35
3 958.93 200.03 758.90 48,732.45
4 958.93 196.96 761.97 47,970.48
5 958.93 193.88 765.05 47,205.43
6 958.93 190.79 768.14 46,437.29
7 958.93 187,68 771.25 45,666.04
8 958.93 184.57 774.36 44,891.68
9 958.93 181.44 777.49 44,114.19
10 958.93 178.29 780.64 43,333.55
11 958.93 175.14 783.79 42,549.76
12 958.93 171.97 786.96 41,762.80
13 958.93 168.79 790.14 40,972.66
14 958.93 165.60 793.33 40,179.33
15 958.93 162.39 796.54 39,382.79
16 958.93 159.17 799.76 38,583.03
17 958.93 155.94 ' 802.99 37,780.04
18 958.93 152.69 806.24 36,973.80
19 958.93 149.44 809.49 36,164.31
20 958.93 146.16 812.77 35,351.54
21 958.93 . 142.88 816.05 34,535.49
22 958.93 139.58 819.35 33,716.14
23 958.93 136.27 822.66 32,893.48
24 958.93 132.94 825.99 32,067.49
25 958.93 129.61 829.32 31,238.17
26 • 958.93 126.25 832.68 30,405.49
27 958.93 122.89 836.04 29,569.45
28 958.93 119.51 839.42 28,730.03
29 958.93 116.12 842.81 27,887.22
30 958.93 112.71 846.22 27,041.00 •
31 958.93 109.29 849.64 26,191.36
32 958.93 105.86 853.07 25,338.29
33 958.93 102.41 856.52 24,481.77
34 958.93 98.95 859.98 23,621.79
35 958.93 95.47 863.46 22,758,33
36 958.93 91.98 866.95 21,891.38
37 958.93 88.48 870.45 21,020.93
38 958.93 84.96 873.97 20,146.96
39 958.93 81.43 877.50 19,269.46
40 958.93 77.88 881.05 18,388.41
41 958.93 74.32 884.61 17,503.80
42 958.93 70.74 888.19 16,615.61 ..
43 958.93 67.15 891.78 15,723.83
44 958.93 63.55 895.38 14,828.45
45 958.93 59.93 899.00 13,929.45
46 958.93 56.30 902.63 13,026.82
47 958.93 52.65 906.28 12,120.54
48 958.93 48.99 909.94 11,210.60
49 958.93 45.31 913.62 10,296.98
50 958.93 41.62 917.31 9,379.67
51 958.93 37.91 921.02 8,458.65
52 958.93 34.19 924.74 7,533.91
. 53 958.93 30.45 928.48 6,605.43
54 958.93 26.70 932.23 5,673.20
55 958.93 22.93 936.00 4,737.20
56 958.93 19.15 939.78 3,797.42
57 958.93 15.35 943.58 2,853.84
58 958.93 11.53 947.40 1,906.44
59 958.93 7.71 951.22 955.22
60 958.93 3.71 955.22 0.00
Grand Totals 57,535.80 6,535.80 51,000.00
CITY OF YAKIMA
4 t,
RICHARD ZAIS JR - CITY MANAGER
EXHIBIT "C"
b ank 0,, AGREEMENT #
Fire Scar Salvia. Guaranrco4,
1223521
Property Acceptance Certificate: Lyon Financial Services, Inc dba U.S. Bancorp Business Equipment
Finance Group (Lessor) and the undersigned Municipality (Customer), we hereby certify to and agree with the
Lessor as follows:
1. The Equipment as defined in the Agreement, has been delivered and installed at the
location specified in the agreement and accepted on the date indicated below.
2. Customer has conducted such inspection and/or testing of the Equipment as it deems
necessary, and hereby acknowledges that it accepts the Equipment for its purposes.
3. No event of default, as defined in the Agreement, and no event that would cause
default, has occurred and is continuing at the dale hereof.
Based on the above certification, Customer shall commence the Payments as stated in Exhibit B to the Agreement.
Dated:
YAKIMA CITY OF
stomer Customer
X
Signature RICHARD ZAIS JR Signature
CITY MANAGER
Title Titfe
Date Date
10333 REVO6/07 5
DRIVERS LICENSE REQUEST
b ank . AGREEMENT #
1 Five Scar Ser inrGwvantre : 2
�LL'r75L
r� s�
1
Please attach a copy of ALL SIGNORS Drivers License:
(including signature)
6
10497 REV05/09
VERBAL AUTHORIZATION
b ank AGREEMENT #
FM $1r ict Guarani:co;
1223521
_ -
s k. 4 is authorized
(Name and Title of Contact for Verbal Verification)
for and on behalf of YAKIMA CITY OF to verbally verify terms and conditions of the Agreement.
*MUST BE SIGNED BY SOMEONE OTHER THAN THE PERSON NAMED ABOVE.
YAKIMA CITY OF
Customer
X
Signature RICHARD ZAIS JR
CITY MANAGER
Title
Date
7
10232 REV0107
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Form 8038-GC Information Return for Small Tax-Exempt •
Governmental Bond Issues, Leases, and Installment Sales
OMB No. 1545-0720
(Rev. November 2000) 11 Under Internal Revenue Code section 149(e)
Department at the Treasury Caution: If the issue price of the issue is $ 100,000 or more, use Form 8038-G.
Internal Revenue Service
Par Reporting Authority Check box if Amended Return 10. 0
1 Issuer's name 2 Issuer's employer identification number
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3 Number and street (or P.D. box if mail is not delivered to street address) Room/suite
4 City, town, or post office, state, and ZIP code 5 Report number
5
8 Name and title or officer or legal representative whom the IRS may call for more information 7 Telephone number of officer or legal repnmkritative
Partl Description of Obligations Check if reporting: a single issue 0 or on a consolidated basis El .
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8a Issue price of obligation(s) (see instructions). . . . . . . . . . ........ 8a_,,
b Issue date (single issue) or calendar year (consolidated) (see instructions)
9 Amount of the reported obligation(s) on fine 8a:
a Used to refund prior issue(s) • 9a
b Representing a loan from the proceeds of another tax-exempt obligation (e.g., bond bank)
10 If the issuer has designated any issue under section 265(b)(3)(B)(i)(III) (small issuer exception), check this box . . • . PP. 0
11 If any obligation is in the form of a lease or installment sale, check this box • II" 0
12 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check this box . - 10- 0
Under penalties of perjury. I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge
Sign and belief, they are true, correct, and complete.
• Here •
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Issuer's authorized representative Date Type or print name and title
General Instructions Thus, an issuer may file a separate Forrn Other Forms That May Be Required
8038-GC for each of a number of small For rebating arbitrage (or paying a penalty in
Section references are to the Internal issues and report the remainder of small lieu of arbitrage rebate) to the Federal
Revenue Code unless otherwise noted. issues issued during the calendar year on one government, use Form 8038-T, Arbitrage
consolidated Forrn 8038-GC. However, a
Purpose of Forrn separate Form 8038-GC must be filed to give Rebate and Penalty in Lieu of Arbitrage
Rebate. For private activity bonds, use Form
Form 8038-GC is used by the issuers of the IRS notice of the election to pay a penalty E10311, Information Return for Tax-Exempt
tax-exempt governmental obligations to in lieu of arbitrage rebate.
Private Activity Bond Issues.
provide the IRS with the information required
by section 149(e) and to monitor the When To File Rounding to Whole Dollars
requirements of sections 141 through 150. To file a separate return, file Form 8038-GC You may show the money items on this
on or before the 15th day of the second
Who Must File calendar month after the dose of the return as whole-dollar amounts. To do so,
- drop any amount less than 50 cents and
Issuers of tax-exempt governmental calendar quarter in which the issue is issued. increase any amount from 50 to 99 cents to
obligations with issue prices of less than To file a consolidated return, file Form the next higher dollar.
$100,000 must file Forrn 8038-GC. 8038-GC on or before February 15th of the
Issuers of a tax-exempt governmental calendar year following the year in which the Definitions '
obligation with an issue price of $100,000 or • issue is issued. Obligations. This refers to a single
more must file Form 8038-G, Information Late filing. An issuer may be granted an tax-exempt governmental obligation if Form '
Return for Tax-Exempt Governmental extension of lime to file Form 8038-GC under 8038-GC is used for separate reporting or to
Obligations. Section 3 of Rev. Proc. 88-10, 1988-1 C.B. ' multiple tax-exempt governmental obligations
Filing a separate return. Issuers have the 635, if it is determined that the failure to file if the form is used for consolidated reporting.
option to file a separate Forrn 8038-GC for on time is not due to willful neglect. Type or Tax-exempt obligation. This is a bond,
any tax-exempt governmental obligation wfth print at the top of the form, 'This Statement installment purchase agreement, or financial
an issue price of less than $100,000. Is Submitted in Accordance with Rev. Proc. lease, on which the interest is excluded from
88-10." Attach to the Form 8038-GC a letter
An issuer of a tax-exempt bond used to income under section 103.
briefly stating why the form was not
finance construction expenditures must Ole a
submitted to the IRS on time. Also indicate - Tax-exempt governmental obligation. A
separate Form 8038-GC for each issue to whether the obligation in question is under tax-exempt obligation that is not a private
give notice to the IRS that an election was examination by the IRS. Do not submit copies activity bond (see below) is a tax-exempt
made to pay a penalty in Geu of arbitrage of any bond documents, leases, or i governmental obligation. This includes a bond
rebate (see the line 12 instructions). sale documents. See Where To File below. issued by a qualified volunteer fire
Filing a consolidated retimi. For all department under section 150(e).
tax-exempt governmental obligations with Where To File Private activity bond. This includes an
issue prices of less than $100,000 that are
File Form 8038-GC, and any attachments, obligation issued as part of an issue in which:
not reported on a separate Form 8038-GC,
with the Internal, Revenue Service Center, • More than 10% of the proceeds are to be
an issuer must file a consolidated information
return including all such issues issued Ogden, UT 84201. used for any private activity business use,
within
and
the calendar year. • ' .
Cat. No. 641088 Form 6036-GC (Rev. 11-2C7001
. .
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Form 8038-GC (Rev. 11-2000) Page 2
• More than 10% of the payment of principal Specific Instructions Lines 9a and 9b. For line 9a, enter the
or interest of the issue is either (a) secured amount of the proceeds that will be used to
by an interest in property to be used for a In general, a Form 8038-GC must be pay principal, interest, or call premium on any
pnvate business use (or payments for such completed on the basis of available other issue of bonds, including proceeds that
property) or (b) to be derived from payments information and reasonable expectations as will be used to fund an escrow account for
for property or borrowed money) used for a of the date the issue is issued. However, this purpose. Both line 9a and 9b may apply
private business use. forms that are filed an a consolidated basis to a particular obligation. For example, report
It also includes a bond, the proceeds of may be completed on the basis of information on line 9a and 9b obligations used to refund
which (a) are to be used to make or finance readily available to the issuer at the close of prior issues which represent loans from the
loans (other than loans described in section the calendar year to which the form relates, proceeds of another tax-exempt obligation.
141(c)(2)) to persons other than governmental supplemented by estimates made in good Line 11. Check this box if property other than
units and (b) exceeds the lesser of 5%01 die faith- cash is exchanged For the obfigation, e.g.,
proceeds or $5 million. acquiring a police car, a fire truck, or
Part I—Reporting Authority
Issue. Generally, obligations are treated as telephone equipment through a series of
part of the same issue only if they are issued Amended return. If this is an amended Form monthly payments. (This type of obligation is
by the same issuer, on the same date, and as 8038-GC, check the amended return box. sometimes referred to as a "municipal lease.")
part of a single transaction, or a series of Complete Part I and only those lines of Form Also check this box if real property is directly
related transactions. However, obligations 8038-GC that are being amended. to not acquired in exchange for an obligation to
issued during the same calendar year (a) amend estimated amounts previously make periodic payments of interest and
under a loan agreement under which amounts reported once the actual amounts are principal. Do not check this box if the
are to be advanced periodically (a determined. (See the Part II instructions proceeds of the obligation are received in the
"draw-down loan") or (b) with a term not below.) form of cash, even if the term "lease" is used
exceeding 270 days, may be treated as part Line 1. The issuer's name is the name of the in the title of the issue.
of the same issue if the obligations are entity issuing the obligations, not the name Or Line 12. Check this box if the issue is a
equally and ratably secured under a single the entity receiving the benefit of the construction issue and an irrevocable election
indenture or loan agreement and are issued financing. In the case of a lease or installment to pay a penalty in lieu of arbitrage rebate
under a common financing arrangement (e.g., sale, the issuer is the lessee or purchaser. has been made on or before the date the
under the same official statement periodical/ Line 2. An issuer that does not have an bonds were issued. The penalty is payable
updated to reflect changing factual with a Form 8038-T for each 6-month period
employer identification number (EIN) should
circumstances). Also, for obligations issued after the date the bonds are issued. Do not
licatiec for A
l
appy for one on Form 55-4, pp
under a draw-down loan that meets the make any payment of penalty in lieu of rebate
Employer Identification Number.
requirements of the preceding sentence. This Form with Form 6038-GC. See Rev. Proc. 92-22,
be obtained at Social Security
obligations issued during different calendar may 1992-1 C.B. 736, for rules regarding the
Administration offices or by caNing
years may be treated as part of the same "election document."
1-800-TAX-FORM. If the EIN has not been
issue if all of the amounts to be advanced received by the due date for Form 8038-GC,
under the draw-down loan are reasonably write "Applied For' in die space for the EIN.
expected to be advanced within 3 years of Paperwork Reduction Act Notice
the date of issue of the first obligation. Line 5. After the preprinted 5, enter two
Likewise, obligations (other than private self-designated numbers. Number reports We ask for the information on this forrn to
activity,bonds) issued under a single consecutively during any calendar year (e.g., carry out the Internal Revenue laws of the
agreement that is in the form of a lease or 534, 535, etc.). United States. You are required to give us the
information. We need it to ensure that you are
installment sale may be treated as part of the P art —
rail II,Description of complying with these taws.
same issue if all of the property covered by
that agreement is reasonably expected to be Obligations You are not required to provide the
delivered within 3 years of the date of issue information requested on a Form that is
Line 8a. The issue price of obligations is subject to the Paperwork Reduction Act
of the first obligation.
generally determined under Regulations unless the form displays a valid OMB control
Arbitrage rebate. Generally, interest on a section 1.148-1(b). Thus, when issued for number. Books or records relating to a form
state or local bond is not tax exempt unless cash, the issue price is the price at which a or its instructions must be retained as long as
the issuer of the bond rebates to the United substantial amount of the obligations are sold their contents may become material in the
States arbitrage profits eamed from investing to the public. To determine the issue price of administration of any Internal Revenue law.
proceeds of the bond in higher yielding an obligation issued for property, see Generally, tax retums and return information
nonpurpose investments. See section 148(f). sections 1273 and 1274 and the related are confidential, as required by section 6103.
Construction issue. This is an issue of regulations. The time needed to complete and file this
tax-exempt bonds that meets both of the Line 8b. For a single issue, enter the date of form varies depending on individual
following conditions: issue, generally the date on which the issuer circumstances. The estimated average time
1. At least 75% of the available physically exchanges the bonds that are part i
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construction proceeds of the issue are to be of the issue for the underwriter's or other
used for construction expenditures wall purchaser's) funds; for a lease or installment Learning about the
respect to property to be owned by a safe, enter the date interest starts to accrue. law or the form . . . . 1 hr., 58 min.
governmental unit or a 501(c)(3) organization, For issues reported on a consolidated basis, Preparing the form . . . • 3 hr., 3 min.
and enter die calendar year during which the
2. All of the bonds that are part of the issue obligations were issued. Copying, assembling, and
sending the form to the IRS . . 16 min.
are qualified 501(c$3) bonds, bonds that are
not private activity bonds, or private activity If you have comments conceming the
bonds issued to finance property to be accuracy of these time estimates or
owned by a governmental unit or a 501(c)(3) suggestions for making this forrn simpler, we
organization, would be happy to hear From you, You can
In lieu of rebating any arbitrage that may write to the Tax Forms Committee, Westem
be owed to the United States, the issuer of a Area Distribution Center, Rancho Cordova,
construction issue may make an irrevocable CA 95743-0001. Do not send the form to this
election to pay a penatty. The penalty is equal address. Instead, see Where To File on
toi of the amount of construction page 1.
proceeds that do not meet certain spending
requirements. See section 1480)(4)(C) and the
Instructions for Form 8038-T.
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