HomeMy WebLinkAbout24097 CITY COUNCIL
CITY OF PALM SPRINGS
RESOLUTION No. 24097
LEASE NO.008-0185560-100
DATED AS OF SEPTEMBER 13,2016
A resolution authorizing the negotiation,execution,and delivery of Lease No.008-0185560-100 dated September 13,2016(the"Lease"),
between City of Palm Springs,CA,3220 East Tahquitz Canyon Way,Palm Springs,CA 92262 and TCF Equipment Finance,a division
of TCF National Bank,I I II West San Marian Dr,Suite A2 West,Waterloo,IA 50701-8926,and prescribing other details in connection
therewith.
WHEREAS,City of Palm Springs,CA,(the"Lessee")is a political subdivision duly organized and existing pursuant to the Constitution and
laws of the State of California;and
WHEREAS,Lessee is duly authorized by applicable law to acquire such items of personal property as are needed to carry out its governmental
functions and to acquire such personal property by entering into lease-purchase agreements;and
WHEREAS,Lessee hereby finds and determines that the execution of a Lease for the purpose of leasing with the option to purchase the property
designated and set forth in the Lease is appropriate and necessary to the function and operations of the Lessee;and
WHEREAS,TCF Equipment Finance,a division of TCF National Bank, (the"Lessor")shall act as Lessor under said Lease,and
WHEREAS,the Lease shall not constitute a general obligation indebtedness of the Lessee within the meaning of the Constitution and laws of the
State;
NOW,THEREFORE,BE IT RESOLVED BY THE GOVERNING BODY OF City of Palm Springs,CA:
Section 1. The Lease,in substantially the form as presently before the governing body of the Lessee,is hereby approved,and the City Manager
or desi g nee of the Lessee,is hereby authorized to negotiate,enter into,execute,and deliver the Lease and related documents in
substantially the form a;presently before the governing body of the Lessee,with such changes therein as shall be approved by such officer,and
which Lease will be available for public inspection at the offices of Lessee.
Section 2. The Lessee shall,and the officers,agents and employees of the Lessee are hereby authorized and directed to take such further action
and execute such other documents,certificates and instruments as may be necessary or desirable to carry out and comply with the intent of this
Resolution,and to carry out,comply with and perform the duties of the Lessee with respect to the Lease.
Section 3. The Lessee's obligations under the Lease shall be expressly subject to annual appropriation by Lessee,and such obligations under the
Lease shall not constitute a general obligation of Lessee or indebtedness of Lessee within the meaning of the Constitution and laws of the State of
California.
Section 4. All other related contracts and agreements necessary and incidental to the Lease are hereby authorized,ratified and approved.
Section 5. Ibis resolution shall take effect immediately upon its adoption and approval.
CERTIFIED AS TRUE AND CORRECT this 26 dayof September .2016.
rgnatur.of Clerk,Secretary or Assistant Secretary
.DAMES THOMPSON
Printed Name of Clerk,Secretary or Assistant Secretary
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