HomeMy WebLinkAboutA6130 - TORO FINANCINGFinancing
Lessee: City of Palm Springs dba Tahquitz Creek Golf Course
Date: July 1, 2011
Master lease # 8682172
Lease Schedule# 8682172-001
This is a cover letter indicating that the documents listed below need to be completed so we can process
your lease. PLEASE SIGN THE ENCLOSED DOCUMENTS AND RETURN THE FOLLOWING TO
US.
• Master Lease Agreement to be signed by: AuAuthorized Signerthorized Signer
• Master Lease Schedule to be signed by: AuAuthorized Signerthorized Signer
• Insurance Letter to be returned
• Delivery and Acceptance to be signed by: AuAuthorized Signerthorized Signer
• Ship To/Bill To Form to be completed and returned
• Please submit a tax exempt certificate
rev. 9/99
Financing
Master Lease Agreement
SLG Municipal Pricing
Agreement# 8682172
"Master Agreement" shall mean this Master Lease Agreement. "Schedule" shall mean any Lease Schedule signed by you and
us which incorporates the terms of this Master Agreement. "Lease" shall mean this Master Agreement and any Schedule.
■H.�Irif►Yd1i111iK17►11171run
I. COMMENCEMENT OFSCHEDULE. CommencementofaSchedule (the'CommencementDate") and endorsements on checks you send to us willnotreduce your obligations to us. We may charge you aretumchedc
I acceptance of the Equipment shall occur upon delivery of the Equipment to you. You agree to inspect the or non-sulficientfundschargeof$25.00foranycheck,whichisretumedbythebankforanyreason(nottoexceed
Equipment upon delivery and verify by telephone or in writing such information as we may require. The Equip- the maximum amount permitted by law).
ment is accepted by you under the Lease unless you notify us within three (3) days ofdelivery that you do riot 5. IATECHARGES. For any payment, which is not received within thirty (30) days ofits due clate, you agree
accept the Equipment and specify the defector malfunction. In that event, we will replace the defective item of to pay a late charge equal to the higher of10%ofthe amount due or$22,00(riot toexceed the maximum amount
Equipment or this Lease will be canceled and you will assume all our rights under any purchase order or permitted by law) as reasonable collection costs.
agreement entered into by us to buy the Equipment. lfyousigned apurchase orderorsimilar agreement for the 6.OWNERSHIP. USE, MAINTENANCE AND REPAIR. Intherase ofa$1Lease.voushall have titletothe
i r-,-••••.,•.•••••••..y,.,r,..,,,,,.,r,,,e,,,,,yav,.c.nucrw woyi,wuaanw rvu, iiyiiw, wrrnn x; ui your wnyauuiu
under it All attachments, accessories, replacements, replacement parts, substitutiorts, additions and repairs to
the Equipment shall form part of the Equipment under Schedule.
2. SECURITY DEPOSIT. The Security Deposit will be held by us, without interest, and may be commingled
(unless otherwise required by law), until all obligations under the Lease are satisfied, and may be applied at our
option against amounts due under the Lease. The Security Deposit will be returned to you upon termination of
a Schedule, provided you are not in default, or applied to the last Lease Payment or to the amount we may quote
for any purchase or upgrade of the Equipment
3. LEASEPAYMENTS. You agree to remit to us the Lease Payment (asset forth in the Schedule) and all other
sums when due and payable each Billing Period at the address we provide to you from time to time. If the
Commencement Date ofa Schedule is not the first or the fifteenth day of any calendarmonth (a "Payment Date'),
the initial Term of a Schedule shall be extended by the number of days between the Commencement Date and
the Payment Date which first occurs after the Commencement Date of such Schedule and your first Lease
Payment will be increased by 1130" of the monthly Lease Payments multiplied by the number ofdays elapsed
from the Commencement Date to the day immediately preceding the Payment Date which occurs after such
Commencement Date. Lease Payments are due whether or not you are invoiced. You authorize us to adjust the
Lease Payments by not more than 15%to reflect any reconfiguration of the Equipment or adjustments to reflect
applicable sales taxes or the cost of the Equipment by the manufacturer/supplier.
4. LEASE CHARGES. You agree to: (a) pay all costs and expenses associated With the use, maintenance,
servicing, repair or replacement of the Equipment and(b) pay all premiums and other costs of insuring the
Equipment. In addition, you will (1) reimburse us for all costs and expenses (including reasonable attorneys'
fees and court costs) incurred in enforcing the Lease and (2) pay all other costs and expenses for which you are
obligated under the Lease (theLease Charges`),IfaSchedule provides you with a$1Purchase Option (all
Lease'), you agree to file all required property tax returns and promptly pay all property taxes, which may be
assessed against the Equipment. If a Schedule provides you with a Fair Market Value Purchase Option (an
"FMV Lease"), (a) you acknowledge and agree that we will be the ownerof the Equipment throughout the Lease
Tenn and we will be assessed personal property taxes, and (b) notwithstanding the fact that you may be exempt
from the direct payment of personal property taxes, you agree, at our discretion, to either(i) reimburse us annually
for all personal property and other similar taxes and governmental charges associated with the ownership,
possession or use of the Equipment, or (ii) remit to us each Billing Period ourestimate of the pro -rated equivalent
ofsuch taxes and governmental charges. You agree to pay usan administrative fee for the processing oftaxes,
assessments or fees which maybe due and payable under the Lease. We may take on your behalf any action
required under the Lease, which you fail to take, and upon receipt of our invoice you will promptly pay our costs
(including insurance premiums and other payments toa(filiates),plus reasonable processing fees, Restrictive
BOTH PARTIES AGREE TO WAIVE ALL RIGHTS TO A JURY TRIAL.
tquipment Immeolately upon deuvery and shall be the ownerof the Equipment and we reserve a security interest
in the Equipment to secure all of your obligations under the Lease. In the case of an FMV Lease, we own the
Equipment and you have the right to use the Equipment under the terms of the Lease. Ifthe Lease is deemed to
be seared transaction, you grant us a security interest in the Equipment to secure all of your obligations under
the Lease. You hereby assign to us all of your rights, but none of your obligations, under any purchase agreement
fortheEquipment We hereby assign to you all our rights underany manufacturer or supplier warranties, so long
asya arenotin defaut hereunder. You must keep the Equipment free of Gents. You may not remove the Equipment
from the address indicated on the front ofa Schedule without firstobtaining our approval. Youagreeto: (a)keep
the Equipment in your exclusive control and possession; (b) USE THE EQUIPMENT ONLY IN THE LAWFUL
CONDUCT OF YOUR BUSINESS, AND NOT FOR PERSONAL, HOUSEHOLD OR FAMILY PURPOSES; (c)
use the Equipment inconformity with all insurance requirements, manufacturer's instructions and manuals; (d)
keep the Equipment repaired and maintained in good working order and as required by the manufacturers
warranty, certification and standard full service maintenance contract; and (a) give us reasonable access to
inspect the Equipment and its maintenance and other records.
7. INDEMNITY. You are responsible for all losses, damage, claims, infringement claims, injuries and attorneys'
fees and costs CC!aims"), incurred or asserted by any person, in any manner relating to the Equipment, including
its use, condition or possession. You agree to defend and indemnify us against all Claims, although we reserve
the right to control the defense and to selector approve defense counsel. This indemnity continues beyond the
termination of a Schedule, for acts or omissions, which occurred duhng the Term ofa Schedule. Youalsoagree
that the Lease has been entered into on the assumption that we will be entitled to certain tax benefits available
to the owner of the Equipment. In the case of an FMV Lease, you agree to indemnify
us for the toss of any income tax benefits caused by your acts or omissions inconsistent with such assumption
or the Lease. In the event of any such loss, we may increase the Lease Payments and other amounts due tooffse
any such adverse effect
8. LOSSORDAMAGE. If any item of Equipment is lost, stolen or damaged you will, at youroption and cost,
either. (a) promptly repair the item or replace the item with a comparable item reasonably acceptable to us; or (b)
pay us the sum of (i) all past due and current Lease Payments, (ii) the present value of all remaining Lease
Payments for the item, discounted at the rate of 6% per annum (or the lowest rate permitted by law, whichever
is higher), (iii) all Lease Charges, and (iv) the Fair Market Value of the Equipment (if an FMV Lease). We will than
transfer to you all our right, title and interest in the EquipmentASIS AND WHERE -IS, WITHOUT ANY WAR-
RANTYAS TO CONDITION, TITLE ORVALUE. Insurance proceeds shall be applied toward repair, replacement i
or payment hereunder, as applicable. In this MasterAgreement,'Fair Market Value" of the Equipment means
its installed fair market value at the end of the Term, assuming good order and condition (except for ordinary wear
and tear from normal use), as estimated by us.
Continued on Page 2
BY SIGNING THIS MASTER AGREEMENT, YOU AGREE TO THE TERMS ON BOTH PAGES 1 AND 2. ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY,
EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT
ENFORCEABLE. TO PROTECT YOU AND US FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS
ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVWPFA(N T ff doh{ *6F&MR T BETWEEN US, EXCEPT AS WE MAY LATER
AGREE IN WRITING TO MODIFY IT. uuYY�Guu ISf l+�l f l,lJ II,
Turf Star Inc.
Name of Lessor
2438 Radley Court Hayward, CA 94545
ress o essor
By: _
Name: _
Title: _
Date: _
l
Page 1 of 2
Visit us at
bl50
City of Palm Springs dba Tahquitz Creek Golf Course
Full Legal Name
3200 East Tahquitz Way Palm City, CA 92262
By: X
Signature of Authorized Signer
Name: A 1 v!
Please dnt
Title: G'/_7 j' 17Ar 4d-'f2
Date: 7 —21—A6 / 1 Fed Tax ID If - 10 0 0
Date of Signature
-G&tl_
ADDITIONALTERMS AND CONDMONS OFAGREEMENT
9. INSURANCE. You agree, at your cost, to: (a) keep the Equipment insured against all risks of physical loss or
damage for its full replacement value, naming us as loss payee (or, in the case of a $1 Lease, naming you and us
as loss payees as our interests may appear); and (b) maintain public liability insurance, covering personal injury
and Equipment damage for not less than $300,000 per occurrence, naming us as additional insured. You have a
choice in how you satisly these insurance requirements. First, you may obtain coverage on your own and provide
us with evidence of insurance coverage. If you elect this option, the policy must be issued by an insurance carrier
rated B+ or better by A.M. Best Company, must provide us with not less than 15 days' priorwritten notice of
cancellation, non -renewal or amendment, and must provide deductible amounts acceptable to us. Second, you
may elect to have us directly obtain coverage protecting our interests. UNLESS YOU PROVIDE EVIDENCE OF
THE INSURANCE COVERAGE REQUIRED BYTHISMASTERAGREEMENT,WEMAY PURCHASE INSURANCE
AT YOUR EXPENSE TO PROTECT OUR INTEREST IN THE EQUIPMENT. THIS INSURANCE MAY, BUT NEED
NOT, PROTECTYOUR INTERESTS. THE COVERAGE THATWE PURCHASE MAY NOT PAYANYCLAIM THAT
YOU MAKE ORANYCLAN THAT IS MADE AGAINST YOU IN CONNECTION WITH THE EQUIPMENT. YOU
MAYLATER CANCELANY INSURANCE PURCHASED BY US, BUTONLYAFTER PROVIDING EVIDENCE THAT
YOU HAVE OBTAINED INSURANCE AS REQUIRED BY THIS MASTER AGREEMENT. IF WE PURCHASE
INSURANCE FOR THE EQUIPMENT, YOU WILL BE RESPONSIBLE FOR THE COSTS OF THAT INSURANCE,
INCLUDING THE INSURANCE PREMIUM, INTERESTANDANYOTHER CHARGES WE MAY IMPOSE IN CON-
NECTION WITH THE PLACEMENTOF THE INSURANCE, UNTIL THE EFFECTIVE DATE OF CANCELLATION
OR EXPIRATION OF THE INSURANCE. THE COSTS OF THE INSURANCE MAY BEADDEDToYOUR TOTAL
OUTSTANDING BALANCE OR OBLIGATION, THE COSTS OF THE INSURANCE MAY BE MORE THAN THE
COSTOF INSURANCE YOU MAY BEABLE TO OBTAIN ON YOUR OWN. The insurance coverage we obtain
may be through an insurance carrier, which may be affiliated with our assignee or us. There will be no deductible
and the coverage will include protection forearthquakes, floods and employee thell. Wewillpay the premium, but
you must reimburse us. Each Billing Period, you must pay us with your Lease Payment the pro -rated portion of the
insurance premium. At the end of the Term you must pay us any remaining portion of the premium.
10. DEFAULT. You will be in default under the Lease if: (a) you fail to remit to us any payment within ten (10) days
ofthe due date orbreachany other obligation under this Lease; (b) a petition is filed byor against you or any Guarantor
under any bankruptcy or insolvency law; or (c) you default under any other agreement with us.
11. REMEDIES. If you default, we may do one or more of the following: (a) recover from you, AS LIQUIDATED
DAMAGES FOR LOSS OF BARGAIN AND NOTASAPENALTY,, the sum of.. (i) all past due and current Lease
Payments, (ii) the present value of all remaining Lease Payments, discounted at the rate of 6% per annum (or the
lowest rate permitted bylaw, whichever is higher), (iii) all Lease Charges, and (iv) the Fair Market Value of the
Equipment ('I an FMV Lease); (b) declare any other agreements between us in default; (c) require you to return all
of the Equipment in the manner outlined in Section 12. or take possession of the Equipment, in which case we shall
not be held responsible for any losses directly or indirectly arising out of, or by reason of the presence and/or use
of any and all proprietary information residing on or within the Equipment, and to lease or sell the Equipment or any
portion thereof, and to apply the proceeds, less reasonable selling and administrative expenses, to the amounts
due hereunder, (d) charge you interest on all amounts due us from the due date until paid at the rate of 1-1 /2% per
month, but in no event more than the lawful maximum rate; (e) charge you for expenses incurred in connection with
the enforcement of our remedies including, without limitation, repossession, repair and collection costs, attorneys'
fees and court costs. These remedies are cumulative, are in addition to any other remedies provided for bylaw,
and may be exercised concurrently or separately. Any failure or delay by us to exercise any right shall not operate
as a waiver of any other right or future right.
12.END0FTERMOPTIONS: RETURN OFEOUIPM ENT.Inthe case ofa$1Lease and 9you are not indefauII,
we will release any security interestwhich we may have in the Equipment at the end of the Tenn. In the case of
an FMV Lease, at the end of the Term and upon 30 days prior written notice to us, you shall either (a) return 82 of
the Equipment, or (b) purchased of the Equipment AS -IS AND WHERE -IS, WITHOUT ANY WARRANTY AS TO
CONDITION, TITLE OR VALUE, for the Fair Market Value, plus applicable sales and other taxes. TheLeaseshall
continue on a monk -to -month basis and you shall pay us the same Lease Payments and Lease Charges as applied
during the Term until the Equipment is returned to us or you pay us the applicable purchase price (and taxes). If
you are in default or, in the case of an FMV Lease, you do not purchase the Equipment at the end of the Tenn (or
any month -to -month renewal term), you shall returnfllofthe Equipment, freight and insurance prepaid at your cost
and risk, to wherever we indicate in the continental United States, with all manuals and logs, in good order and
condition (except for ordinary wear and tear from normal use), packed perthe shipping companys specifications,
and pay an inspection, restocking and handling fee of $100, not to exceed the maximum permitted bylaw, as
reasonable compensation for our costs in processing returned equipment. You will pay us for any loss in value
resulting from the failure to maintain the Equipment in accordance with this Master Agreement or for damages
incurred in shipping and handling.
13. ASSIGNMENT. You may not assignor dispose of any rights or obligations under the Lease or sub -lease the
Equipment, without our priorwritten consent. We may, without notyingyou, (a)assign the Lease orour interest
in the Equipment, and (b) release information we have about you and the Lease to the manufacturer, supplier or any
prospective investor, participant or purchaser of the Lease. Kwe do make an assignment under subsection 13(a)
above, ourassignee will have all of our rights under the Lease, but none ofour obligations. You agree not to assert
against our assignee claims, offsets or defenses you may have against us.
14. NONAPPROPRIATION. For each Lease commenced hereunder, you intend to remit all Lease Payments and
Lease Charges when due if funds are legally available to you. If at any time during the Lease Tenn (a) you are not
granted an appropriation of funds the Equipment subject to that Lease, (b) operating funds are not otherwise
available to you to pay the Lease Payments and Lease Charges due or to become due under that Lease, and (c)
there is no other legal procedure or available funds by or with which payment can be made to us under that Lease
(a "Non -Appropriation") you shall have the right to return the Equipment subject to that Lease in accordance with
Section 12 hereof and terminate that Lease on the last day of the fiscal period for which appropriations were received
without penalty or expense to you, except as to the portion of Lease Payments and Lease Charges for which funds
shall have been appropriated and budgeted. In the event ofa Non -Appropriation, at least thirty (30) days prior to the
end of the last fiscal year for which funds shall have been appropriated and budgeted, yourchief executive officer
or legal counsel shall certify in writing that (1) funds have not been appropriated for the upcoming fiscal period, and
(2) you have exhausted all funds legally available for the payment of Lease Payments and Lease Charges. If you
terminate a Lease as a result of a Non -Appropriation, you may not purchase, lease or rent any equipment that
performs functions similar to those performed by the Equipment fora period of twelve (12) months following the date
of termination. This Section 14 shall not permit you to terminate any Lease in order to acquire any other Equipment
or to allocate funds directly or indirectly to perform essentially the application for which the Equipment is intended.
15. MISCELLANEOUS. Notices must be in writing and will be deemed given 5 days after mailing to your (or our)
business address. You represent that: (a) you have authority to enter into the Lease and by so doing you will not
violate any law or agreement; (b) the Lease is signed by your authorized officer or agent acting with the full
authorization of your governing body and holding the office indicated below such officer's or agent's signature; (c)
the Lease, any documents relative to the acquisition of the Equipment and any other documents required to be
delivered in connection with the Lease (collectively, the "Documents") have bee nduly authorized, executed and
delivered by you in accordance with all applicable laws, rules, ordinances and regulations; (d) the Equipment is
essential to the immediate performance of a governmental or proprietary function by you within the scope of your
authority and shall be used during the Lease Term only to such function; (a) you intend to use the Equipment
for the entire Lease Term and shall take all necessary action to include in your annual budget any funds required
to fulfill your obligations for each fiscel year during the lease Term; (f) you have complied fully with all applicable
law governing open meetings, public bidding and appropriations required in connection with the Lease and the
acquisition of the Equipment; (9) your obligation to remit Lease Payments under the Lease constitutes a current
expense and not a debt under applicable state law; (h) no provision of this Lease oonsdtutes a pledge of your tax
or general revenues, and any provision which is so construed by a court of competent ju6sdiction is void from the
inception of the Lease; () all Lease Payments due and to become due during your current fiscal year are within the
fiscal budget of such year, and are included within an unrestricted and unencumbered appropriation currently
available for the lease orlease/purchase of the Equipment; and 0) all financial information you have provided to
us is accurate and complete and fairly represents your financial condition. The Lease is the entire agreement
between us, and cannot be modified except by another document signed by us. The Lease is binding on you and
yowsircass rsandimigrhgYoumithedizAngnrnuragenttn(1)nbtainandit ports And makorra'tinri'd g
(2) furnish payment history to credit reporting agencies; and (3) be yourattomey4n-fact for the sole purpose of
signing UCC financing statements. Any claim you have against us must be made within two (2) years after the
event, which caused it If a court finds any provision ofthe Lease to be unenforceable, all other terms shall remain
ineffect and enforceable, You authorize us to insert or correct missing information on the Lease, including your
proper legal name, serial numbers and any other information describirgthe Equipment, If you so request, and we
permit the early termination ofa Schedule, you agree to pay a fee for such privilege. THE PARTIES INTEND THIS
TO BE A "FINANCE LEASE" UNDER ARTICLE 2A OF THE UNIFORM COMMERCIAL CODE (UCC'). YOU
WAIVE ALL RIGHTS AND REMEDIES CONFERRED UPON A LESSEE BY ARTICLE 2A OF THE UCC.
16, TIME PRICE. In the case ofa $1 Lease, you understand that the Equipment may be purchased for cash (the
"Equipment Cost") or it may be purchased pursuant to the Lease fora Time Price equal to the Lease Payment times
the number of Lease Payments, plus the Document Fee, all as set forth on a Schedule, plus the Purchase Option
amount, and by executing the Lease you have chosen to purchase the Equipment for that Time Price.
17. LEASE RATE FACTOR. Each Lease Payment includes apart of our investment in the Equipment Cost and
a return on our investment in the Lease. The total return onour investment (the total finance charge) isdetermined
by multiplying the Lease Payment times the number of Lease Payments, then adding the Document Fee and
Purchase Option amount (all as set forth on each Schedule), then deducting the Equipment Cost (as determined
above). The difference so determined is the return to us on our investment (the total finance charge). The rate of
return (finance rate) may be determined by deducting the Security Deposit from the Equipment Cost, and then
applying to the amount so determined, the rate that will amortize that amount dawn to the Purchase Option amount
by applying as payments, the Lease Payments and the Document Fee. For purposes of that amortization, each
Lease Payment, including the Advance Payment, will be considered received on the date it is required to be paid
under the Lease and the Document Fee will be considered received on the date of the Lease.
18. YOUR RE PRESENTATIONS. You hereby represent and warrant to us that as of the date of this Lease, and
throughout the Lease Term: (a) you are the entity indicated in the Lease as Lessee; (b) you are a State or a fully
constituted political subdivision or agency of the State in which you are located; (c) you are duly organized and
existing under the laws of the Constitution and laws of the State in which you are located; (d) you are authorized
to enter into and carry out your obligations under the Lease, any documents relative to the acquisition of the
Equipment and any other documents required to be delivered in connection with the Lease (collectively, the
'Documents'; (a) the Documents have been duly authorized, executed and delivered to you in accordance with
all applicable laws, rules, ordinances and regulations. The Documents are valid, legal, and binding agreements,
enforceable in accordance with their temps. The person(s) signing the Documents have the authority to do so, are
acting with the full authorization of your governing body, and hold the respective offices indicated below each of
their signatures, each of which are genuine; (f) the Equipment is essenfial to the immediate performance of a
governmental or proprietary function by you within the scope of your authority and shall be used dudng the entire
Lease Term only to perform such function; (g) you intend to use the Equipment for the entire Lease Term and shall
take all necessary action to include in your annual budgetary funds required to fulfill yourobligations for each fiscal
year during the Lease Tenn; (h) you have complied fully with all applicable law governing open meetings, public
biddings and appropriations required in connection with the Lease and the acquisition of the Equipment; (i) your
obligations to remit Lease Payments constitute a current expense and not a debt under applicable State law. No
provision of the lease constitutes a pledge of your tax or general revenues, and any provision which is so
construed by court of competentjurisdiclion is void from the inception of the Lease; 0)all payments due and to
become due during your current fiscal year are within the fiscal budget of such year, and are included within an
unrestricted and unencumbered appropriation currently available forthe lease/purchase ofthe Equipment; (k) you
shall not do or cause to be done any act which shall cause, or by omission of any act allow, the interest portion
of any Lease payment to become included in ourgross income for Federal income taxation purposes under the
Federal Income Tax Code (the 'Code'); (1) you shall maintain a complete and accurate record of any and all
assignments ofthe Lease in the forth sufficient to comply with the book entry requirements of Section 149(a) of the
Code and the regulations prescribed thereunder from time to time; (m) you shall comply with the information
reporting requirements of Section 149(e) ofthe Code. Such compliance shall include but not be limited to, the
execution of 8038-G or8038-GC Information Returns; (n) all financial information that you have provided to us is
true and accurate and provides a good representation ofyour financial condition; (o) the Equipment is personal
property and when subjected to use by the you as Lessee will not be or become a fixture under applicable law;
and (p) the Equipment shall be used for business or commercial purposes only, and not forconsumer, home, family
or agricultural purposes.
19. LIMITATIONS ON CHARGES. This Section controls over every other part of this MasterAgreementand over
all other documents now or later pertaining to the Lease. We both intend to comply with all applicable laws. In
no event will we charge or collect any amounts in excess of those allowed by applicable law. Any partofthis
MasterAgreement that could, but for this Section, be read under any circumstance to allow fora charge higher than
that allowable under any applicable legal limit, is limited and modified by this Section to limit the amounts
chargeable under the Lease to the maximum amount allowed under the legal limit. If in any circumstance, any
amount in excess of that allowed bylaw is charged or received, any such charge will be deemed limited by the
amount legally allowed and any amount received by us in excess of that legally allowed will be applied by us to
the payment of amounts legally owed underthe Lease, or refunded to you.
Page 2 of 2 Toro 1624(c)-SLG 02/03
Financing
Equipment Model & Description
See Exhibit A
EquipmentLocation(ifcI ferentfrom
Turf Star Inc.
Name
2438 Radley Court
Address
Hayward, CA 94545
City State 2iD
"Master Agreement" shall mean the above referenced Master Lease Agreement.
"Schedule" shall mean this Lease Schedule. "Lease" shall mean this Schedule
and the Master Agreement.
YOU HAVE SELECTED THE EQUIPMENT. YOU ARE AWARE OF THE NAME OF THE MANU-
FACTURER OF EACH ITEM OF EQUIPMENT AND YOU WILL CONTACT EACH MANUFAC-
TURER FOR A DESCRIPTION OF YOUR WARRANTY RIGHTS. WE MAKE NO WARRAN.
TIES TO YOU, EXPRESS OR IMPLIED, AS TO THE MERCHANTABILITY, FITNESS FOR A
PARTICULAR PURPOSE, SUITABILITY, OR OTHERWISE. WE PROVIDE THE EQUIPMENT
TO YOU AS -IS. WE SHALL NOT BE LIABLE FOR CONSEQUENTIAL OR SPECIAL DAM.
AGES.
EXCEPT AS PROVIDED IN SECTION 3 YOUR PAYMENT OBLIGATIONS ARE ABSOLUTE
AND UNCONDITIONAL AND ARE NOT SUBJECT TO CANCELLATION, REDUCTION OR
SETOFF FORANYREASON WHATSOEVER BOTH PARTIES AGREE TO WAIVE ALL RIGHTS
TO A JURY TRIAL.
ALL OF THE TERMS AND COND171ONS SET FORTH IN THE MASTER AGREEMENT ARE
HEREBY INCORPORATED INTO THIS SCHEDULE. BY SIGNING THIS SCHEDULE, YOU
AGREE TO THE TERMS OF THIS SCHEDULE AND THE MASTER AGREEMENT. ORAL
AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR
FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR
RENEW SUCH DEBTARE NOT ENFORCEABLE. TO PROTECT YOU AND US FROM MISUN-
DERSTANDING OR DISAPPOINTMENT, ANYAGREEMENTS WE REACH COVERING SUCH
MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLU.
SIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE
IN WRITING TO MODIFY IT.
Turf Star Inc.
Name of tessor
2438 Radley Court Hayward, CA 94545
Address of Lessor
By:
Name:
Title:
Date:
For Supplier Use Only
Documentation Checklist::
❑ Invoice
❑ Purchase Order
❑ Tax Exemption Certificate
❑ Certificate of Insurance
❑ Other
Page 1 of 1
SLG Municipal Pricing
Lease Schedule # 8682172-001
Master Lease Agreement # 8682172
Serial Number
Fair Market Value
Contracted Hours (FMV only)
0-600 601-900 901-1200
$1 .00 *LEASE RATE % (Must Complete for GA, MD, NH, NM, WI)
*LEASE RATE FACTOR 0.02322 (Must Complete for all other states)
(-required only for $1.00 purchase option)
Lease Payment $ 6,837.38
Equipment Purchase Price $ 273,273.75 (plus applicable taxes)!
Sales Tax 21,178.72 Term 48 months
Total Purchase Price $ 294,452.47
Billing Period (monthly if not checked)
Monthly Quarterly Semi -Annually E� Annually
The following additional payments are due on the date this Agreement is signed by you:
SECURITY DEPOSIT $
ADVANCE PAYMENT **$
6,837.38
(plus applicable taxes)
"Applied to: ✓❑first ❑last
DOCUMENT FEE $250.00 (included on first invoice)
City of Palm Springs dba Tahquitz Creek Golf Course
Fu0 Legal Name
3200 East Tahquitz Way
611ingAd
D�•.�n C�, ga2�3
City State Lp---- .
Contact Name Phone E-mail Address
sl nature of thorized Sign
Name:
PI se Print
Title: tt_= aWJP r
Date: 7- 2I — 21) j Fed Tax ID 7 S— 6 0 0 0 7 S 7
Dale of Slgnatura
APPROVED BY CITY COUNCIL ❑ Delivery and Acceptance ❑ UCC Financing Statements
❑ Copy of Bid and Award ❑ Copy of Board Minutes
^
1•aI •" L,1"00 ❑ Opinion of Counsel ❑ Amendment (for certain states)
"ssignment ElCertif of Incumbency/Resolution �
❑ Other o
a
��22 C t
Lessor Turf Star Inc.
Exhibit A — Description of Equipment
Lessee City of Palm Springs dba Tahquitz Creek Golf Course Agreement No./Schedule No.
8682172-001
Lessor and Lessee agree that the following described Equipment is subject to the Master
Lease Agreement and Schedule referenced above:
Quantity
Model No.
Description
3
SLE120D
Gearmore 48" Flail Mower 3 PT w/Duck Foot Blade
2
2.ST60X96
Gearmore Dump Trailer 2.5 Ton
2
L2010
Lely Spreader 3PT, 2275#
2
L2010CARRIER
L2010 Carrier Frame
3
M6040DT-1
4WD Utility Tractor
3
E1134
Deluxe Fiberglass Canopy
3
E1136
Mounting Bracket Kit
3
M7630
Rear Work Light
1
7371
Workman HDX-D-4WD w/Bed Diesel 24HP
1
44225
Topdresser1800
1
7341
1/3 Flatbed -Workman
1
93-9225
1/3 Cover Kit -WORKMAN
1
7316
High Flow Hydraulic Kit HDX Models Only
1
115-7849
SIDE MIRROR KIT -HD WORKMAN
1
7420
Hand Throttle
1
117-4831
HITCH KIT, RECEIVER TUBE
1
15-4754
MYTURF WIRELESS HOUR MET ER ASSEMBLY
3
900212
TV60RE Turbo Vac w/Brush Recirculating Systems
Turf Star Inc I City of Palm Springs dba Tahquitz Creek Golf Course
BY
PRINT NAME
TITLE
Authorized Representative
DATE
PRINT NAME
TITLE N .
DATE -7—
Delivery and Acceptance Notice
Lease agreement number: 8682172-001
Lessor : Turf Star Inc. Lessee: City of Palm Springs dba Tahquitz Creek Golf
Equipment:
See Exhibit A
Lessee shall pay Lessor at the office of Lessor, or at such other place as Lessor may hereafter
designate, such amounts as set forth on such Lessee's individual lease schedule in connection
with the Lease number set forth above commencing upon delivery of the leased equipment and
on the first day of each consecutive month thereafter for a period of time as set forth in such
Lessee's individual lease schedule.
Acceptance Notice
As evidenced by this Equipment Acceptance Notice, we acknowledge receipt, in good condition
and satisfactory installation, all of the items described above and certify that Lessor has fully and
satisfactorily performed each, every and all covenants and conditions to be performed by it under
the Lease Agreement between Lessor and Lessee. We authorize you to pay the supplier for the
equipment, supplies, and/or independent maintenance agreement(s).
We accept the above -mentioned equipment, programmed or not programmed (if applicable), and
waive insofar as Lessor and it assignees are concerned any reservations as to condition,
correctness, capability or capacity of the equipment or associated software or the equipment and
software in conjunction, and understand than any shortcomings in the equipment, its operation or
programming, without reservation, will not be grounds for withholding of any payments due or to
become due under the aforementioned lease.
The equipment described herein is not being accepted on a trial basis. In the event decal or
metal plates have been supplied, they have been affixed.
WE AGREE THAT THE LEASE BETWEEN LESSOR AND LESSEE IS THE ONLY LEASE,
SALE OR FINANCE ARRANGEMENT THAT WE HAVE ENTERED INTO FOR THIS
EQUIPMENT, AND WE ACKNOWLEDGE THAT THE LESSOR IS NOT AN AGENT OF THE
VENDOR (EQUIPMENT SUPPLIER) NOR IS THE VENDOR THE AGENT OF THE LESSOR
Lessee: City of Palm Springs dba Tahquitz Creek Golf Course
By: X
Title: X
Installation date: X
Lesssee's acknowledgement of receipt of equipment
Please Complete and Return with Signed Lease Agreement
***send a copy of this to your insurance provider***
Lease Number (Application or MLA): 8682172
Lessee Name: City of Palm Springs dba Tahquitz Creek Golf Course
Address: 3200 East Tahquitz Wav
City, State, Zip: Palm City, CA 92262
PROPERTY INSURANCE CARRIER INFORMATION
Agency Name:
Agent:
Address:
City, State, Zip:
Telephone Number:
LIABILITY INSURANCE CARRIER INFORMATION
Agency Name:
Agent:
Address:
City, State, Zip:
Telephone Number:
IMPORTANT
Under the terms and conditions of your Lease Agreement, you are required to carry adequate
insurance coverage on the leased equipment. Make sure that your agent understands that you are
financing or leasing the equipment and that your policy conforms with the following:
1. Property or physical damage coverage for the replacement cost value of the Equipment or the
stipulated casualty value, whichever is higher. Maximum Deductible: $10,000.00
2. General Liability Coverage: for all FMV Leases and $1 Leases over $500,000. Amounts of -
$1,000,000 per occurrence/combined single limit (or $5,000,000 with respect to registered
Equipment) unless stipulated otherwise. Maximum Deductible: $10,000.00
3. Additional Insured/Loss Payee Endorsement naming "General Electric Capital Corporation and its
successors and assigns". "Claims -Made Policies" are NOT acceptable.
4. Fifteen (15) Days written notice of cancellation, non -renewal or amendment,
5. Equipment listed on, or schedule attached to, the evidence of insurance.
Insurance Inquires should be made to Customer Service at 1-800-533-9917. Please send an ACORD
FORM 27 (sample attached) or ACORD FORM 28 evidencing adequate insurance coverage to:
General Electric Capital Corporation
Attention: Contracts Department
300 E. John Carpenter Freeway, Suite 204
Irving, TX 75062-2712
Fax: 800-786-0456
NOTICE OF ASSIGNMENT
DATE: July 1, 2011
TO : City of Palm Springs dba Tahquitz Creek Golf Course
RE: Assignment of Schedule No. 001 to Master Lease Agreement No. 8682172 (the Schedules and the
Master Lease Agreement are hereinafter collectively referred to as the "Agreement")
Dear Customer:
Please be advised that we have sold and assigned to General Electric Capital Corporation ("GE Capital") all of
our right, title and interest in and to, but none of our obligations in and to: (1) the Agreement identified above;
(2) all rights and remedies under the Agreement, (3) the equipment subject to the Agreement, and (4) all
payments due and to become due under the Agreement.
We did not transfer any of our obligations under the Agreement to GE Capital. All correspondence and
questions regarding maintenance and performance of the equipment should be directed to us. Under the terms
of the Agreement, you are required to remit Lease Payments and all other payments notwithstanding any
complaint you may have against us for maintenance, service, or supplies. Please remit all Lease Payments
and all other payments due and to become due under the Agreement to GE Capital at the address provided by
GE Capital. GE Capital will invoice you each month for the Lease Payments due and payable under the
Agreement.
Additionally, all notices required to be sent to the Lessor under the Agreement and any notices regarding your
termination of the Agreement for non -appropriation or convenience should also be sent to GE Capital at the
address listed below.
Please acknowledge your receipt of this notification letter in the space provided below and return a copy to GE
Capital at the following address:
General Electric Capital Corporation
300 E. John Carpenter Freeway, Suite 204
Irving, TX 75062-2712
In the event you do not acknowledge and return this notification letter within ten (10) days of the date
referenced above, GE Capital will assume you have read and agree with the information contained herein and
will remit to GE Capital all payments due and to become due under the Agreement.
Sincerely,
Turf Star Inc.
(Lessor)
By:
Name and Title:
ACKNOWLEDGED THIS DAY OF , 20_
City of Palm Springs dba Tahquitz Creek Golf Course
(Lessee)
Q4
Name and Title: aS �, C�f—
TO BE COMPLETED AND RETURNED WITH SIGNED LEASE AGREEMENT
Lease agreement number: 8682172-001
Ship To:
Name: T199&kIT,�t- C-Afft 6 D L �: C L u�
Address: D
City, ST, Zip r A f- %I -( PR 1 / e f L �► �%2� 6 2
Attention: _ T 1,4r 0 D r 4/, g< +/-*p
Bill To:
(If different than SHIP TO address)
Name: (f (/- T U A Y G D L f PAR Tr- n4r,* Pr/7 C-/-T L L C
Address: ,1706D SPEC 7-,C iAf1 b l / T'k f c. O VA C,4 J' T
City, ST, Zip /+DD I f o 1` `l— /K ? .S' 0 6 1 — C f ¢ +
Attention: C L I r 7' f,414 / E S
Federal Tax ID# ( S— 0 0 4 0 7 5 7
Verification Information:
Contact Name and Phone Number:
6: F 0 FFle P i
/r ICY L�
( 7 4 0) `% 0 Z — O f d l
Best Time to Reach: Y A/7
— t P /7
/I a r-' b * r
— T# wx .!� d A i
Certificate: Authorizing Resolutions, Incumbency, Appropriation and Essential Use
In connection with that Municipal Lease Agreement ("Lease') dated and effective as of between Turf Star Inc which, together with
any successor or assignee (including General Electric Capital Corporation), is referred to as "Lessor" and City of Palm Springs dba Tahquitz Creek Golf
Course, a political subdivision organized and existing under the Constitution and laws of the State of California which is referred to as "Lessee,"the
undersigned does hereby certify to Lessor as follows: D c�/�,A
1. 1 am the duly appointed/elected (choose one) and acting Clerk/Secretary of th tlj OF T &A15rA 0, if any) ("Goveming Body's
of Lessee, and I have custody of the records of said Governing Body.
2. The resolutions attached hereto as Exhibit A and made a part hereof are a true and corn ct of the resolutions adopted and ratified by the
Governing Body of Lessee according to its rules of procedure at its public meeting held on c y o1 and said resolutions have not been
rescinded or modified and are still in full force and effect.
3. TI ie ii idividuals j jan reld below are ti ie duly elauted or appointed offims of Lessee holdIng the offices or positions set furtl i alter It eii i idn ies, ai id tl iat
their signatures below are genuine:
Name
241,14 Afet y
7//0/;F1fX P/Ls'O/-'
0u4I-AX #0Lttl D
Title
4'1 7,f
4 ff'r C. r v 117,41-46!tlf (;�,
C/TY tP77NO- e
Signature
4. Lessee has an immediate need for and expects to make immediate use of all of the Equipment described in the Lease in the performance of its
governmental and proprietary functions and such need is not expected to diminish during the term of the Lease. Specifically, the Equipment will be used
as follows:
5. All payments due by Lessee under the Lease for the current fiscal year are within the fiscal year budget for the fiscal year ending
. and are included within an unrestricted and unencumbered appropriation currently available for the lease/purchase of the
Equipment.
6. The Equipment is essential to the immediate performance of a governmental or proprietary function by Lessee within the scope of its authority.
7. There is no litigation, action, suit or proceeding pending or before any court, administrative agency, arbitrator or government body that challenges the
organization or existence of Lessee, the authority of its officers, the authorization, approval and/or execution of the Documents (as defined in the Lease), the
appropriation of funds in connection therewith for the current fiscal year, or the ability of the Lessee to perform its obligations under the Lease and the
transactions contemplated thereby.
[SEAL]
DVF-FS-SLG(Tax-Exempt-06.2004
ame of Secretary)
�E5' THdt�PS�
C 1" G ��
APPROVED BY CITY COUNCIL
COLZIZz011 AW36
FOR ACCfG. PURPOSES ONLY.
DOES NOT REPRESENT A BUY OUT, CASUALTY OR TERMINATION VALUE.
CUSTOMER City of Palm Springs
AMOUNT
$294,452.47
RATE
5.42%
L.R.F=
.023221
TERM
48
ADVorARR
ARR
PAYMENT
BEGINNING
INTEREST
PRINCIPAL
TOTAL
ENDING
NUMBER
BALANCE
EXPENSE
PAYMENT
PAYMENT
BALANCE
0
5294,452.47
50.00
$0.00
$0.00
5294,452.47
1
$294,452,47
S288,945.37
$1,330.28
$1,395.40
$5,507.10
$6,837.38
$288,945.37
3
$283,413.39
$1,280.40
55,531.98
$5,556.97
$6,839.96
$6,837.38
$293,4t3.39
$277,856.41
4
$277,856.41
51,255.30
$5,582.08
$6,837.38
$272,274.33
5
$272,274.33
$1,230.08
$5,607.30
$6,837.38
5266,667.03
6
$266,667.03
$1,204.75
$5,632.63
$6,837.38
$261,034.40
7
$261,034.40
$1,179.30
$5,658,08
$6,837.38
5255,376.32
8
$255,376.32
$1,153.74
$5,683.64
56,837.38
$249,692.68
9
$249,692.68
$1,128.06
$5,709.32
$6,837.38
$243,983.37
10
$243,983.37
$1,102.27
$5,735.11
$6,837.39
$238,248.26
11
$238,248.26
$1,076.36
$5,761.02
$6,837.38
$232,487.23
12
$232,487.23
$1,050.33
$5,787.05
$6,837.38
5226,700.19
13
$226,700.19
$1,024.18
$5,813.19
$6,837.38
$220,886.99
14
$220,886.99
$997.92
$5,839.46
$6,837.39
$215,047.54
15
$215,047.54
$971.54
55,865.84
$6,837.38
$209,181.70
16
$209,181.70
$945.04
$5,892.34
$6,837.38
$203,289.36
17
$203,289.36
$918.42
$5,918.96
$6,837.38
$197,370.40
18
$197,370.40
$891.68
$5,945.70
$6,837.38
$191,424.71
19
5191,424.71
$864.82
$5,972.56
$6,937.38
5185,452.15
20
$185,452,15
$837.83
$5,999.54
$6,837.38
$179,452.60
21
$179,452.60
$810.73
$6,026.65
$6,837.38
$173,425.95
22
$173,425.95
$783.50
$6,053.87
$6,937.38
$167,372.08
23
$167,372.09
5756.15
56,081.23
$6,837.38
5161,290.85
24
$161,290.85
$728.68
$6,108.70
$6,837.38
$155,182.16
25
$155,182.16
$701.08
$6,136.30
$6,837.38
$149,045.86
26
$149.045.86
$673.36
$6,164.02
$6,837.38
$142,881.84
27
$142,881.84
$645.51
$6,191.87
$6,837.38
$136,689.97
28
$136,689.97
$617.54
$6,219.84
$6,837.38
$130,470.13
29
$130,470.13
$589.44
$6,247.94
$6,837.38
5124,222.19
30
5124,222.19
$561.21
$6,276.17
$6,837.39
$117,946.02
31
$117,946.02
$532.86
56,304.52
$6,837.38
$111,641.50
32
$111,641.50
$504.37
$6,333.00
$6,837.38
$105,308.50
33
5105,308.50
$475.76
56,361.62
$6,937,38
$98,946.88
34
598,946.88
5447.02
56,390.36
$6,837.38
$92,556.53
35
$92,556.53
$418.15
$6,419.23
$6,837.38
$86,137.30
36
$86,137.30
$389.15
$6,448.23
$6,837.38
$79,689.07
37
$79,689.07
$360.02
$6,477.36
$6,837.38
$73,211.71
38
$73,211.71
$330.76
$6,506.62
56,837.38
$66,705.09
39
$66,705.09
$30I.36
$6,536.02
$6,837.38
560,169.07
40
$60,169.07
5271.83
$6,565.55
$6,837.38
$53,603.53
41
$53,603.53
$242,17
$6,595.21
$6,937.38
547,008.32
42
$47,008.32
$212.37
56,625.00
$6,837.39
$40,383.32
43
$40,383.32
$182.44
$6,654.93
$6,837.38
$33,728.38
44
$33,728.38
$152.38
$6,685.00
$6,837.38
527,043.38
45
$27,043.38
$122.18
$6,715.20
$6,837.38
$20,328.18
46
520,328.18
$91.84
$6,745.54
$6,837.38
$13,582.64
47
$13,582.64
$61.36
$6,776.01
$6,837.38
$6,806.63
48
$6,906.63
$30.75
$6,806.63
$6,837.38
$0.00
TOTALS
$33,741.66
$294,452.47
$328,194.13
Initials: DATE:
Form 8038-G I Information Return for Tax -Exempt Governmental Obligations
► Under Internal Revenue Code section 149(e) OMB No. 1545-0720
(Rev. November 20ry Do -See separate Instructions.
Internal Revenue Service /�
Department the Treasury Caution: if the issue rice is under $700,000, use Form 8038-GC.
MUNI Reportinq Authoritv If Amended Return. check here ► F-1
1 Issuer's name
2 Issuer's employer identification number
ritY o
yS d a 0 7S7
3 Number and street (or P.O. box if mail is not delivered to street address)
Room/suite
4 Report number
7 t o o C. Te1Ail Q 4 7-A C4r row- P4 r
3
-5---City, town, or post office, state, and ZIP code
6 Date of issue
p.,f Ln XPR/1-�a.r C.4 q, 6 -
7-26-20//
7 Name of issue
8 CUSIP number
To A D F1I",4/"
/V0/y6.
9 Name and title of officer or legal representative whom the IRS may call for more information
10 Telephone number of officer or legal representative
G'FeF I?rr S' IV
( 7(# ) ?.2 ? - 8 -2z/
LimLyn e Of Issue lIcnecK appucapie wxtes) and enter the issue rice) See instructions and attach schedule
11 ❑ Education . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12 ❑ Health and hospital . . . . . . . . . . . . . . . . . . . . .
13 ❑ Transportation . . . . . . . . . . . . . . . . . . . . . . .
14 ❑ Public safety . . . . . . . . . . . . . . . . . . . . . . . . .
15 ❑ Environment (including sewage bonds) . . . . . . . . . . . . . . . .
16 ❑ Housing . . . . . . . . . . . . . . . . . . . . . . . . . .
17 ❑ Utilities . . . . . . . . . . . . . . . . . . . .
18 ❑ Other. Describe ►
19 If obligations are TANS or RANs, check box ► ❑ If obligations are BANS, check box ► ❑
20 If obligations are in the form of a lease or installment sale, check box ►
11
12
13
14
15
16
17
18
wmffiz
FAff, /011
l; MGM UescrlDtion of Ublinations. Cmmnlete for the Pntiro i¢¢uP fnr which thi¢ fnrm is hPinn filPri
(a) Final maturity date
(b) Issue price
(c) Stated redemption
price at maturity
(d) Weighted
average maturity
(e) Yield
21
$
$
years
%
t uses of rroceeds of Fiona Issue tinclucling underwriters' discount)
22 Proceeds used for accrued interest . . . . . . . . . . . . . . . . . .
22
N/A
23
N/A
23 Issue price of entire issue (enter amount from line 21, column (b)) . . . . .
24 Proceeds used for bond issuance costs (including underwriters' discount) , 24 NIA
25 Proceeds used for credit enhancement . . . . . . . . . , , . 25 N/A
26 Proceeds allocated to reasonably required reserve or replacement fund . 26 NIA
27 Proceeds used to currently refund prior issues . . . . . . . . 27 N/A
28 Proceeds used to advance refund prior issues . . . . . . . . 28 NIA
29 Total (add lines 24 through 28) .
29
NIA
30 Nonrefunding proceeds of the issue (subtract line 29 from line 23 and enter amount here) .
30
N/A
Description of Refunded Bonds (Complete this part only for refunding bonds.)
31 Enter the remaining weighted average maturity of the bonds to be currently refunded . . , ► N/A years
32 Enter the remaining weighted average maturity of the bonds to be advance refunded . . . ► N/A years
33 Enter the last date on which the refunded bonds will be called . . . . . . . . . . . ► N/A
34 Enter the date(s) the refunded bonds were issued ►
a(r Miscellaneous
35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) . , 35 N/A
instructions; 36a 36a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract (see N/A
b Enter the final maturity date of the guaranteed investment contract ► N/A
37 Pooled financings: a Proceeds of this issue that are to be used to make loans to other governmental units 37a N/A
b If this issue is a loan made from the proceeds of another tax-exempt issue, check box ► ❑ and enter the name of the
issuer ► and the date of the issue ► N/A
38 If the issuer has designated the issue under section 265(b)(3)(13)(i)(111) (small issuer exception), check box . . . ► ❑
39 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . . . . . . . . . . . . ► ❑
40 If the issuer has identified a hedge, check box ► El. . . . . . . . . . . . . . . . . . . . . . .
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge
and belief, they are true, correct, and complete.
Sign
croft-rrY .r, /TifHc
Here , /k7 -a / ZoIt P/X rc ro/1 o F
Signature of i uer's kthorized representative Date ' Type or print name and title
For Paperwork Reduction Act Notice, see page 2 of the Instructions. cat. No. 63773S Form 8038-G (Rev. 11-2000)
INVOICE
Billing Id. Invoice No. Due Date
8682172-001 001 Upon Receipt
Make checks payable and remit to:
General Electric Credit Corporation
300 E. John Carpenter Freeway, Suite 204
Irving, TX 75062
City of Palm Springs dba Tahquitz Creek Golf Course
3200 East Tahquitz Canyon Way
Palm City, CA 92262
To ensure proper credit --detach along dotted line and return upper portion with payment. Please do not staple or fold.
......................................................................................................
8682172-001
Billing
Due Date
Customer Service
001
Upon Receipt
800 533 9917
$7 087.38
City of Palm Springs dba Tahquitz Creek Golf Course
3200 East Tahquitz Canyon Way
Palm City, CA 92262
Account Due
Date
Description
Amount
8682172-001
06/23/2011
Advance Payment
$6,837.38
Document Fee
$250.00
Total Due Upon Receipt
$7,087.38
Retain this portion