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HomeMy WebLinkAboutA7051 - NATIONAL COOPERATIVE LEASING (NCL)JPAAWARDEQ CC>NTRACT Application for Equipment Lease Contract #032615 NCL NATIONAL COOPERATIVE City of Palm Springs 95*6000757 www.palmspringsca.gov LEASING Legal Name of Lessee (Applicant) Tax ID # Web address (if, applicable) 3200 E Tahquitz Canyon 1ij Palm Springs California 92262 Riverside Address City State Zip County Perso(s) to Contact for Clarification Regarding Project Staci Schafer City Manager 760-323-8170 Name Title Phone Craig Grabow Fleet Maintenance Manager 760-322-8348 Name Title Phone Craig.Grabow@paimspringsca.gov 760-320-1376 Email Fax Obligations / Economics Bank Qualified 0 Non -Bank Qualified 0 Fiscal Year End: 6/30 Are the Applicant's obligations bank qualified (i.e., expected to issue less than $10 Million in tax-exempt financing this calendar year)? Moody's Investors Service: Standard & Poor's: AA (approprl8 Fitch: Please list the Applicant's current underlying bond rating from the rating agencies listed above (if applicable) see attached OS from Spring 2017 for discussion - starting Page 22 Discuss the Applicant's economic trends (stable, positive, negative) and reasons for any variation Yes M No M Has the Applicant ever defaulted or non -appropriated on an obligation? Please explain Demographic Information Please provide the following demographic information (please attach any applicable demographic statistics) Aporox square mile 96.2 Population 47,379 (permanEll Increasing or Decreasing Pooulation? increasing Cities, Towns and Counties If Decreasing. Please explain Educational Applicants Only Enrollment Increasing or Decreasing Enrollment? Please also answer the above question regarding the resident city If Decreasing. Please explain Elementarv: Middle: High School: Other: How many schools make up the district (please list the number and type of each school)? THIS DOCUMENT I8 NOT A COMMITMENT OR AN OFFER TO PROVIDE FINANCING Essential Use Form Police Patrol vehicles 04/2018 Purchase Description (please be specific and attach any applicable equipment lists or invoices available) Est. Equipment Delivery Date Are any of the Lease Proceeds for reimbursement of prior purchases? If yes, has a Reimbursement Resolution been approved by the Governing Body? Is the Equipment replacing existing equipment? If Yes, The vehicles being replaced have been used for 8 and 19 years. The vehicle are being replaced in accordance with policy to improve the safety and reliability Please state how long you have currently used the Equipment and the reason you are replacing the Equipment of the Police Department's patrol vehicle fleet. What will the Applicant do with the old equipment that is being replaced? If NQ, Please state the reason additional equipment is needed What will the Applicant do with the old equipment that is being replaced? Please describe in detail the following (please be specific) The vehicles will be used for public safety and law enforcement What will the Equipment be used for? Law Enforcement Describe the essential nature of the equipment financed Police Patrol Vehicles List the specific department that will be the primary user of the Equipment Lease Payments Yes ❑� Not t Will the lease payments be made from Applicant's General Fund? If No From which Special Fund will the lease payments be made? Will any federal grant or loan monies be used? If so, please describe Has the first payment been appropriated? Terms and Conditions $766,430.55 0 $766,430.55 Total Cost of Equipment Advance payment Amount to Finance _5 Annual M Semi -Annual 171 Quarterly n Monthly Term (in years) Frequency (choose one): Advance M Arrears 0 4/2018 Remittance (choose one): Equipment Delivery Date Self Insured Insurance Company Name or indicate Self Insured Amount of Liability Insurance Amount of Property Damage Insurance The undersigned hereby certifies that all the information in the above Application for Equipment Lease and Essential Use Form is true, complete and correct. 4L Applicable Sig ure City Manager_ 11/2/17 Title --� uf'� gppFtOVEK) gY CITY COUNCIL THIS DOCU E T M NOT A COMMITMENT OR AN OFFER TO PROVIDE II'IMAMCIN