HomeMy WebLinkAbout9/21/2016 - STAFF REPORTS - 1.L. pppLMSp
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C'4<IFOAe`P CITY COUNCIL STAFF REPORT
DATE: SEPTEMBER 21, 2016 CONSENT CALENDAR
SUBJECT: APPROVAL OF A THREE YEAR LEASE WITH TCF EQUIPMENT
FINANCE FOR 152 E-Z-GO TXT 48 ELECTRIC GOLF CARTS
NEGOTIATED BY CENTURY GOLF TO SERVE THE PALM SPRINGS
TAHQUITZ CREEK "LEGENDS" AND "RESORT" GOLF COURSES.
FROM: David H. Ready, City Manager
BY: Chief of Staff/City Clerk
SUMMARY
The City Council will consider approving a three year lease agreement with TCF
Equipment Finance for a new fleet of electric golf carts for the City of Palm Springs
Tahquitz Creek Golf Courses.
RECOMMENDATION:
1. Approve a three year lease with TCF Equipment Finance for the equipment lease
amount of $13,396.81 per month, and a total of $14,602.52 per month inclusive
of taxes, for 152 E-Z-GO TXT 48 electric golf carts, plus documentation fee.
2. Adopt Resolution No. , "A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF PALM SPRINGS, CALIFORNIA, AUTHORIZING THE NEGOTIATION,
EXECUTION AND DELIVERY OF LEASE NO 008-0185560-100 BETWEEN
THE CITY OF PALM SPRINGS AND TCF EQUIPMENT FINANCE."
3. Authorize the City Manager and City Clerk to execute all documents necessary
for the lease subject to final approval by the City Attorney.
STAFF ANALYSIS:
In October 2012, the City Council approved a four year lease for the fleet of golf carts
used at the City's Municipal Golf Courses. The current lease will soon expire and the
fleet must be returned. The monthly cost of the current lease is $11,850 and the total
cost for the four year period was $568,800.
ITEM NO.��
LM
psp City of Palm Springs
James Thompson, Chief of Staff/City Clerk
3200 E.Tahquitc Canyon Way • Palm Springs,California 92262
cq4/�fboRop Tel: 760.323.8204 • Fax: 760.322.8332 • TDD 760.864.9527 • w .palmspringsca.gov
MEMORANDUM
TO: Mayor and Members of the City Council
DATE: September 21, 2016
SUBJECT: Item 11. Golf Cart Leases
As indicated in the Staff Report from Item 11. regarding Golf Cart Leases, we continued to negotiate
with proposed leasing companies for more favorable three year lease rates.
To that end, the City did receive a more favorable rate with TCF Equipment Finance, bring the total
payment including taxes to $14,169.97 per month.
This represents an overall savings for the term of the lease in the amount of$15,571.80. Staff would
recommend the following substitution for the city council consideration as follows:
RECOMMENDATION:
1. Approve a three year lease with TCF Equipment Finance for the equipment lease amount of
t" '� $12,999.97 per month, and a total of $'"� $14,169.97 per month inclusive of taxes,
for 152 E-Z-GO TXT 48 electric golf carts, plus documentation fee.
2. Adopt Resolution No. _, "A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA, AUTHORIZING THE NEGOTIATION, EXECUTION AND DELIVERY OF LEASE NO 008-
0185560-100 BETWEEN THE CITY OF PALM SPRINGS AND TCF EQUIPMENT FINANCE."
3. Authorize the City Manager and City Clerk to execute all documents necessary for the lease
subject to final approval by the City Attorney.
Revised term sheet is attached, the leasing documents in the City Council packet remain as presented
with the exception of the monthly payment.
Post Office Box 2743 • Palm Springs,California 92263.2743 O q
-r-Y p M i L
I
L`�r 11100 Wayzata Boulevard,Suite 801 Remittance Section
IMinnetonka,MN 55306 Invoice Number:
equipment Customer Number: 185560
fifiafiCe Address Service Required Contract Number(s): 008-0185560-100
Due Date: 11/5/2016
Total Amount Due: $14.169.97
Make check payable to:
City of Palm Springs, CA
3320 East Tahquil Canyon Way TCF Equipment Finance
Palm Springs,CA 92262 PO Box 77077
Minneapolis MN 55480-7777
Please detach the above remittance potion and return with your payment.Thank You
f 11100 Wayzata Boulevard,Suite sot Invoice Number:
Minnetonka,MN 55305 Customer Number. 185560
equipment Contract Number(s): 008-0185560-100
finance Invoice Due Date: 1 1/512 01 6
Due Date: $0.00
For Customer Samce,Call M&31 t-nss Total Amount Due: $14,169.97
Invoice Details
Current Past Due Past Due Past Due
Contract Number Invoice Description Charges 1-30 Days 31-60 Days 61+ Days Total Due
008-0185560-100
Monthly Payment $12,999.97 $12,999.97
Tax $1,170.00 $1,170.00
Total $14,169.97 $0.00 $0.00 $14,169.97
City Council Staff Report
September 21, 2016-- Page 2
Golf Cart Lease
City and Century Golf Staff recommend a new lease for the fleet of 152 electric golf
carts, only for a three year period for a total cost for the lease period of $525,690.72
During the current lease period, due to the summer climate, the batteries failed nearly
during the same time period, just after the end of the third year. The City experienced a
shortage of available golf carts during season, attempting to replace the four required
batteries in each of the 152 electric carts along the rental of carts to meet demand
during season, was at a considerable cost.
Century Golf and City Staff have negotiated a three year lease for a new fleet of 152 E-
Z-GO TXT 48 electric golf carts at a 46% discount to the retail cost.
Pursuant to Section 7.04.030 of the Municipal Code, the City Council may award a
contract without competition, when it is determined that an unusual or unique situation
exists, due to experience and expertise demonstrated in prior contracts with the City a
particular contractor is uniquely qualified for a particular task, that makes the application
of all requirements of competitive-sealed bidding or competitive-sealed proposals
contrary to the public interest.
Century Golf, the City's contracted course operator, works diligently to secure the best
pricing available in the golf industry. Their ownership and association with over 80 golf
properties that own or lease upwards of 8,000 golf carts, provides a strategic position
with which they aggressively negotiate corporate-pricing agreements every other year
with the most qualified equipment providers in the industry. As such, they are able to
extend their leveraged corporate pricing discounts (in this case 46%) to the benefit of
the City so that the best overall value for the expenditure of public funds can be
obtained.
As there are no known public agency cooperative-purchasing agreements for golf carts
available that offer such competitive-pricing discounts, and it is highly unlikely that the
City could obtain better pricing through an independent solicitation given the relatively
small size of the fleet, it is recommended that the Council award the lease agreement
leveraging the volume pricing discounts that Century Golf is able to obtain on the City's
behalf.
In regard to the financing of the lease, a limited number of companies will finance this
type of equipment, four lease-financing companies where contacted and solicited
leasing quotes are as follows:
TCF Equipment Finance 3.99%
Wells Fargo 4.25%
Capital One Declined to quote.
PNC As of the preparation of this report, the City had not
received a quote, if a quote is received prior to the
meeting, and it is competitive Staff will prepare a
supplemental report for consideration.
02
City Council Staff Report
September 21, 2016 -- Page 3
Golf Cart Lease
FISCAL IMPACT:
The estimated cost of the lease inclusive of taxes is $14,602.52 per month. The golf cart
lease costs are fully budgeted in the Golf Course Fund 430-7021-57503 and the
Century Golf budget.
The interest rate on the lease is 3.99%. The total amount of lease payments for the
three year period is $525,690.72.
i
IIA
MES THOMPSON DAVID H. READY
Chief of Staff/City Clerk City Manager
Attachments:
E-Z-GO TXT 48 Pricing Sheet
Master Lease and Equipment Schedule
Lease Resolution
E-Z-GO Equipment Brochure
03
A Teatron Company
TXT 48 -Fleet Golf Car Price Sheet
Presented By: Presented To: Date: 7/712016
Michael A.Grooms II City of Palm Springs
E-Z-GO Tahquitz Creek Golf Resort
Quantity
TXT 48 EMctric(With Trucour i e Technology) $BA62.00 152 $9a2,224.00
TrisSimarm Tichnoloonn GUNParf m ll1i
O041a116p W ar 91aaa H
Motor: 48 Vag DC Front Suspension: Leaf Springs with Hydraulic Shocks
Horsapovi 3.0 no(2.2 kW)Continuous Rear Suspension: Leaf Springs
Batteries: Su,8 Volt Deep Cycle Service Brake: Rear Wheel Mechanical Drum
Charger: 48 VDC,120 VAC,UUCSA,108 mrd Seating Capacity: 2 Person
Transaxle: Differential with helical gears Ground Speed: 10.2-14 e mph(16 4-23 6 kph)orogrammatdle
OP1pN6 Ouantlry,
Body Colors: Standard-Ivory or Forest Green Ica $0.00 162 $0,00
Premium l- Blck,Almond,EwcYnc Blue,Bmgumy,Platinum,Flame Red $18600 $am
Premium II-Inferno Red.Patent Blue,Metallic Charcoal,Suneunt Orange,
Batley Gdd,BMish Racing Green,Java Brown,Dacia Green,send Blue $235.00 s0b0
Seat Colors: Standard-Oyater,Ten,or Grey Tan $0.00 $0.00
SUN CANOPY TOP Tan or Beige Tan $149.00 152 $22,648.00
WINDSHIELD,FOLD-DOWN dialinree Sun Canopy) $94.00 $0.00
BAG COVER oyater,Tan,or Foreat Green L134.00 $aco
PREMIUM STEERING WHEEL ei 152 $912,00
MESSAGE HOLDER-Single(Sun Campy Required) $25.00 152 Ili.00
USB PORT $160.00 152 $24,320.00
SAND BOTTLE-(Single) S21.00 304 $6.sm4o0
COOLER&BRACKET $52,00 152 $7,904,00
BATTERY WATERING SYSTEM(Prowdes a 25,000 amp hour WARRANTY) $159.co 152 $24,168.00
WHEEL COVERS GW dr Sheri of Gold $29.00 182 $4,408,00
CLUB LOGOS 36.00 162 :$912,00
NUMBER DECALS-2 as $3.50 152 $532.00
PARTS PKG-wSh Hydrolink(includes Handheld Programer,Casual Towttar&Widening Hose) $762.00 2 $1,524,00
TOTAL $1,079,736.00
CORPORATE ACCOU NT DISCOU NT 46%
$683.051
FREIGHT-BASED ON DELIVERY LOCATION C'alaemle $388.00 162 $68,9711.00
PURCHASE PRICE $642,OS3.44
UNIT PRICE $4,223.90
A(whad Q.C;x'aomo 99
✓yaaantaC e"patate acavantd.lfancryA
Presented By: Accepted By: Date:
Pd.DO NOT include State and Local Taxes. All orders are subject to Acceptance and Cretlid Approval. Outdoes are valid for 30 days
tc Master Lease
equipment
finance
The"Master Lease": Master Lease Number 185560L Dated September 13 2016
"Lessee"
City of Palm Springs,CA,3220 East Tahquitz Canyon Way,Palm Springs,CA 92262
Fax: E-mail;
"Lessor"
TCF Equipment Finance,a division of TCF National Bank,1111 West San Marnan Dr,Suite A2 West,Waterloo,IA 50701-8926
Fax:319-833-4577 E-mail:customerservice@ftnancediv.com
Master Lease Terms and Conditions
L LEASE. Lessee hereby agrees to lease from Lessor and,subject to satisfaction of deems appropriate, and will return any unapplied balance to Lessee without interest
all Lessor's requirements and no material adverse change in Lessee's condition or when all such obligations are satisfied.
business, Lessor agrees to lease to Lessee the personal property, services and/or 4. USE;REPAIRS.Lessee shall use the Equipment within recommended capacities,
software described in one or more Schedules(each a"Schedule")to this Master Lease only for its designed purposes,in compliance with all laws,regulations and ordinances.
signed by Lessor and Lessee from time to time on the terms and conditions set forth At Lessee's expense, Lessee will maintain the Equipment in good repair and working
herein and in the related Schedule (such property and services, together with all order, famish all needed parts and services and make all modifications and
replacements, repairs, and additions thereto, collectively the "Equipment"; and each improvements required by law. Lessee will not modify or improve the Equipment
item,an"Item'). Lessee authorizes Lessor to add to the Schedule,or make necessary without Lessor's prior written consent All pans,modifications and improvements will
corrections to, serial numbers or other identification of the Equipment when known. become Lessor's property and pan of the Equipment for all purposes. Lessee shall
Each Schedule incorporates the terns of this Master Lease, is considered a separate prepare and file all tax returns that it may file under the applicable taxing jurisdiction's
lease and shall be referred to herein as `this Lease". Capitalized terms have the laws for taxes that are Lessee's responsibility hereunder,including but not limited to
meanings given to them in the Schedule or herein. If the terms of a Schedule conflict personal property taxes if the End of Lease Provision under the applicable Schedule is
with the terns of this Master Lease,the terms of the Schedule shall control. (i)"Mandatory Purchase"or(u)"Purchase Option"and the price for such option is a
2. TERM. The term of this Lease with respect to each Item begins on the date Lessee dollar amount stated in such Schedule.
accepts such Item and continues for the number of consecutive months from the 5. RETURN. Subject only to strict compliance with the terms of any purchase or
Commencement Date shown in the applicable Schedule (the "Initial Term") unless renewal provisions which are set forth herein or in any Schedule,upon expiration or
earlier canceled.temdnated or extended as provided herein or in the Schedule.Lessee earlier cancelation or termination hereof, Lessee shall, at its sole cost and expense,
shall promptly inspect the Equipment upon delivery and, if acceptable in all respects, retain all, (not pan) of such Equipment to Lessor's designee immediately upon
execute and deliver a certificate of acceptance, in form acceptable to Lessor. Lessee expiration of the Initial Term and with respect to each item of Equipment,as applicable,
authorizes Lessor to fill in the Commencement Date in the Schedule,which will be a the following most be true:All safety equipment must be in place and meet applicable
date designated by Lessor based on the date that the final Item thereunder is delivered to federal,state and other govemmenml standards;All covers and guards most be in place
and accepted by Lessee. The term of this Lease may be extended as provided in the with no sheet metal, plastic or cowling damage; All parts, pieces, components and
applicable Schedule. optional equipment most be present, installed and operational;All accessories shall be
3. PAYMENTS.Lessee shall pay to Lessor: (a)any Advance Rent Payment(s)and returned in proper order; All motors shall operate smoothly without overheating and
Security Deposit set forth in the Schedule,on the date Lessee signs the Schedule;(b)the shall have good bearings and bushings; All electronic controls shall operate per
periodic Rent Payment set forth in the Schedule payable as set forth in the Schedule for manufacturers' specifications; Controls which bypass normal operations shall be
the Initial Term and any renewal term; (c)interim rent for each Item from the date repaired at Lessee's expense;All electrical systems shall be able to provide electrical
accepted to the Commencement Date,at the daily rate equal to the Interim Rent Daily output as specified by the manufacturer;All batteries shall be in good,safe operating
Factor set forth in the Schedule multiplied by the portion of the total cost of the condition with no dead cells or cracked cases;Batteries shall hold a charge and provide
Equipment paid by Lessor(including all amounts Lessor pays in connection with the adequate power to operate the Equipment;All Equipment shall have serviceable tires,
purchase,delivery and installation of the Equipment,including any trade-up and buy out with 50%remaining read,retaining proper air pressure,and without repair patches;All
amounts,and any other amounts financed,before application of any subsidies or like oil and grease seals most contain lubrication in the manufacturer's designed reservoir;
amounts,the"Final Cost")applicable to such Item payable with respect to each calendar All Equipment must have a relatively clean appearance;All Equipment must be free
month by the IME day of the following month and in any event on the Commencement from excessive wear necessitating major component repair or replacement caused by
Date. If, for any reason,the Final Cost is more or less than the estimated cost of the lack of recommended maintenance detailed in Equipment operation/maintenance
Equipment,each Rent Payment and the mandatory or optional fixed purchase price,if manuals;All Equipment shall be free from structuml damage or bent frames;Any usage
any,will be adjusted to provide Lessor the same yield it would have obtained if such or metering devices must not have been altered in any way;All Equipment attachments,
Final Cost had been equal to such estimated cost of the Equipment.Lessee agrees that if any,most be in good operating condition;All hydraulic cylinders most not be bent,
the Schedule will be amended to reflect the adjusted Rent Payment and purchase price, nicked,gouged or leaking.If the Equipment is an electric golf car,then in addition to
if applicable,by(i)written notice from Lessor to Lessee for adjustments of 10%or less; the above return provisions:(i)the golf car must be able to transport two(2)people and
or(ii)signed Amendment.The Rent Payment in the Schedule has been indexed to the their golf clubs;(ii)all batteries and battery terminals must be clean,free of corrosion
LIBOR Swap Rate(fixed rate swap for floating 90day LIBOR)for a similar term to the and have proper battery water levels; and (iii) each golf car must include operable
Initial Term,interpolated as necessary.If such Swap Rate as of the date the final Item is battery chargers. Additionally, all Equipment must be able to complete the following
accepted is more than the Swap Rate as of the date hereof,Lessor may increase the Rent tests:operate normally in forward and reverse directions through all its speed ranges or
Payment accordingly,and on or before the Commencement Date, Lessee will sign an gears,steer normally right and left in both forward and reverse,have all functions and
amendment reflecting such increase. Lessee also shall pay all governmental fees, controls work in a normal manner,be able to stop with its service brakes in a safe
assessments and taxes, however designated, and any penalties or interest thereon, distance in both forward and reverse,operate without leaking any fluids,perform its
assessed on or related to the rent,this Lease or the Equipment,when due or invoiced; designed functions in a satisfactory manner,and all cutting units(if applicable)must be
and all costs and charges of every kind regarding importation, shipment, delivery, able to lower, tum on, not, raise and shut off as they are designed to do. If any
installation,insurance,possession,use,lease,tax treatment,return,repossession,storage Equipment is damaged or does not meet the standards set forth above for the return
and transfer of any Item,when incurred;and if Lessor,in its discretion,pays any such condition of such Equipment or if Lessee fails to discharge Lessees obligations set forth
amount, Lessee shall reimburse Lessor therefore, with interest, on demand, plus under this Mentor Lease andler a Lease with regard to any Equipment, Lessee shall
Lessor's administrative and other costs of paying and invoicing such amounts.Lessor remit to Lessor, immediately upon demand, the Stipulated Loss Value of such
may charge a late fee of 10%of any amount not paid by Lessee within 10 days of its due Equipment.The'Stipulated Loss Value"for a particular Item shall be an amount equal
date hereunder,and all interest provided for under this Lease shall accrue at 18%per to:(i)the total of all monthly payments and other amounts,if any,due under the Lease
annum; provided that in no event shall such late fee or such interest exceed the with respect to such Item as of the date of payment of the Stipulated Loss Value,plus
maximum rate or amount permitted by applicable law.Lessee may from time to time (it)all rent not yet due for the Item for the remaining term of this Lease,discounted
make telephonic requests for,and Lessee hereby authorizes,Lessor or its agents to make from their respective due dates at the rate of 3%per annum,plus(iii) the greater of(a)
and draw checks or drafts on a checking account to be designated by Lessee,payable to the Mandatory Pufl case Price related to the Item;(b)the Item's"Anticipated Residual
Lessor or order,to pay rent and other amounts due hereunder,plus Lessor's standard per Value"as determined by Lessor's books at the Commencement Date;or(c)IO%of the
item fee for making and drawing such check or draft not to exceed the most original Final Cost related to the Item. Until properly returned, all Lease terms shall
amount permitted by law. Lessor may rely on such request made by any person it apply, including without [initiation all Lessee's rent, insurance and maintenance
believes has authority to make such request on behalf of Lessee.Lessee will pay Lessor obligations.
on demand a fee, in an amount determined by Lessor,not to exceed the maximum 6. DISCLAIMERS. LESSOR MAKES NO WARRANTIES, EXPRESS OR
amount from time to time permitted by applicable law, for any check or automatic IMPLIED, AS TO'f11E CONDITION, MERCHANTABILITY OR FITNESS FOR A
payment request returned due to insufficient funds or stop payment.Lessor may apply PARTICULAR PURPOSE OF, THE ABSENCE OF ANY CLAIM OF
payments and any security deposit to Lessee's obligations hereunder in such order as it INFRINGEMENT OR THE LIKE WITH RESPECT TO,OR ANY OTHER MATTER
CONCERNING,THE EQUIPMENT, AND EXPRESSLY DISCLAIMS ANY SUCH
Golf MasittLease Muvi ver 1222.15 292869 9/132016204 PM Pegs 1 05
WARRANTIES AND ANY OTHER WARRANTIES IMPLIED BY LAW. LESSEE legal fees and other expenses incurred due to an Event of Default or the exercise of any
HEREBY WAIVES ALL CLAIMS AGAINST LESSOR FOR ANY LOSS,DAMAGE remedy hereunder, including costs of repossession,repair,storage,transportation and
OR EXPENSE CAUSED BY THE EQUIPMENT OR ANY DEFECT THEREIN,OR disposition of the Equipment. No remedy shall be exclusive, and each shall be
BY THE DELIVERY, INSTALLATION, USE, MAINTENANCE OR SERVICING cumulative to the extent necessary for Lessor to recover amounts for which Lessee is
OF OR AD7USTMEN7 TO THE EQUIPMENT.AS TO LESSOR,LESSEE LEASES liable hereunder.
THE EQUIPMENT AS-IS,WITH ALL FAULTS,WITHOUT WARRANTY OF ANY 12, ASSIGNMENT. Without Lessor's prior written consent. Lessee will not sell,
KIND.Lessee acknowledges that:Lessor is not a dealer or manufacturer of equipment assign,sublet,pledge or otherwise encumber or permit a lien arising through Lessee to
of any kind;is not the seller of the Equipment;each Item is of a type,size,design and exist against any interest in this Lease or the Equipment.Lessor may assign its interest
capacity selected solely by Lessee; and this Lease is a "finance lease" under UCC in this Lease and sell or grant a security interest in all or any pan of the Equipment
Article 2A in all respects.To the extent permitted by law,Lessee unconditionally and without notice to or consent of Lessee. Lessee agrees not to assert against any assignee
irrevocably waives any and all rights and remedies against Lessor at law or in equity of Lessor any claim or defense Lessee may have against Lessor.
(including,without limitation,any rights and remedies granted Lessee under Article 2A 13. NON-CANCELABLE,UNCONDITIONAL OBLIGATION. This Lease cannot be
of the Uniform Commercial Code and/or the right to reject any Equipment or repudiate canceled or terminated except as expressly provided herein. This Lease is a net lease;
this Lease). Lessee agrees that its obligation to pay rent and other amounts payable hereunder is
7. INDEMNITY. To the extent permitted by law, Lessee shall indemnify and hold absolute and unconditional and shall not be subject to any abatement,reduction,setoff
Lessor harmless from any and all claims,actions,damages,legal expenses(including or defense of any kind. If this Lease is deemed to be a lease intended as security,(i)
reasonable attorneys' fees), obligations, liabilities, liens, fines, penalties or other Lessee grants Lessor a security interest in the Equipment to secure its obligations under
amounts arising out of the manufacture, purchase, lease, use, condition, possession, this Lease and all present and future indebtedness to Lessor;(n)this Lease shall be
ownership,operation or remm of any Equipment,or in connection with latent or other construed so that interest,the applicable interest rate or other charges shall not exceed
defects, or any claim for patent, trademark or copyright infringement, including any the maximum time price differential,rate,interest or amount allowed by applicable law,
strict liability claims,whether arising by operation of law,or with or without Lessee's and any excess payment will be applied first to prepay principal hereunder and then as a
fault or negligence or failure to comply with the terms hereof,and as a result of any lien, refund to Lessee; and (iii) this Lease is made under Minn. Stet. Sec. 334.022. The
encumbrance or claim made on the Equipment by anyone,including Lessee's employees Equipment shall at all times remain Lessor's property,and Lessee's only right,title or
and agents,imposed or incurred by or asserted against Lessor,its successors or assigns. interest therein shall be as set forth herein. At its expense, Lessee shall protect and
At Lessor's option, Lessee shall assume full responsibility for the defense of any defend Lessor's title and interest and keep the Equipment free of all claims and liens
indemnified claim. except those created by or arising through Lessor.Lessee authorizes Lessor to file such
S. LOSS.Lessee shall bear the entire risk of loss,theft,damage or destruction of any financing statements, title certificates and instruments as Lessor deems necessary to
or all Items from any cause whatsoever("Loss");and no Loss shall relieve Lessee of protect Lessor's interests in the Equipment, without Lessee's signature, and, if such
any rent payment or other obligation hereunder.If Lessor determines that any Item has signs=is needed, Lessee appoints Lessor as Lessee's anomey-in-fact to sign such
suffered an irreparable Loss,Lessee will either(i)replace the Item with like equipment items in Lessee's name. Lessee will reimburse Lessor's costs with respect thereto an
(of the same year,make,model and accessories)in good repair,condition and working demand. Lessee's exact legal name is as shown above and Lessee represents and
order;or(ii)pay Lessor the Stipulated Loss Value for such Item. warrants to Lessor that as of the date hereof,and throughout the tern of the Lease: (a)
9. INSURANCE.With respect to the Equipment,Lessee shall pay for and maintain, Lessee is a political subdivision of the state or commonwealth in which it is located and
and furnish Lessor a certificate evidencing,insurance insuring against:(a)liability for is organized and existing under the constitution and laws of such state or
bodily injury and property damage with a minimum combined single limit of commonwealth; (b) Lessee has complied, and will comply, fully with all applicable
$1,000,000.00 or such greater amount as may be prescribed by any applicable state law laws,rules,ordinances,and regulations governing open meetings,public bidding and
specifying minimum insurance requirements,with Lessor as additional insured,and(b) appropriations required in connection with the Lease,the performance of its obligations
loss or damage to the Equipment in an amount no less than the Equipment's full under the Lease and the acquisition and use of the Equipment;(c)the persm(s)signing
replacement value,with Lessor as loss payee. Each insurance policy shall be in such the Lease and any other documents required to be delivered in connection with the
form, including a maximum deductible,and with such insurers as Lessor may accept, Lease(collectively,the"Documents")have the authority to do so,are acting with the
shall require the insurer to give Lessor at least 30 days' prior written notice of any full authorization of Lessee's governing body,and hold the offices indicated below their
cancellation or change in terms,and shall specify that no action or misrepresentation by signatures, each of which are genuine;(d)the Documents are and will remain valid,
Lessee will affect Lessor's coverage.Lessor has no duty to verify or notify Lessee that legal and binding Leases, and are and will remain enforceable against Lessee in
any such policy exists or is free of defects. Lessee hereby appoints Lessor as Lessee's accordance with their terms; and (e) the Equipment is essential to the immediate
attorney-in-fact to make claims, receive payments and execute and endorse all performance of governmental or proprietary function by Lessee within the scope of its
documents,checks or drafts under any such policy. If Lessee fails to maintain,pay for authority and will be used during the term of the Lease only by Lessee and only to
or provide Lessor with evidence of the required insurance, Lessor may, but is not perform such function. Lessee further represents and warrants to Lessor that,as of the
obligated to, obtain insurance covering Lessor's interest in the Equipment from an date each item of Equipment becomes subject to the Lease and any applicable Schedule,
insurer of Lessor's choice. Lessor may charge Lessee the costs of acquiring and it has funds available to pay all Lease payments payable thereunder until the end of
maintaining such insurance, and a fee for Lessor's services (collectively, "Insurance Lessee's then current fiscal year,and,in this regard and upon Lessor's request,Lessee
Charge').At its discretion,Lessor may allocate the Insurance Charge to the remaining shall deliver in a form acceptable to Lessor a resolution enacted by Lessees governing
Rent Payments,which Lessee will pay with interest on such allocation.Nothing in this body,authorizing the appropriation of funds for the payment of Lessee's obligations
Lease will create an insurance relationship of any type between Lessor and any other under the Lease during Lessee's then current fiscal year.Lessor may inspect the
person. Equipment and Lessee's records related thereto at any time during business hours.All
10. DEFAULT. Each of the following is an"Event of Default"hereunder:(a)Lessee representations, warranties and indemnities of Lessee made or agreed to in or in
fails to pay any rent or other payment required hereunder when due;(b)Lessee fails to connection with this Lease shall survive expiration,cancelation or wrinination of this
comply with any other covenant or agreement hereunder and such failure continues for Lease.
10 days after notice by Lessor;(c)Lessee defaults under any other obligation to Lessor; 14. TERMINATION FOR GOVERNMENTAL NON-APPROPRIATIONS. To the
(d) Lessee or any guarantor of this Lease ("Gourmet"), or any partner of Lessee extent permitted by applicable law,Lessee agrees to take all necessary and timely action
("Partner")if Lessee is a partnership,ceases doing business as a going concern or makes during the Lease term to obtain and maintain funds appropriations sufficient to satisfy
an assignment for the benefit of creditors;(e)Lessee or any Guarantor or Partner admits its payment obligations under the Lease (the `Obligations"), including, without
in writing an inability to pay debts as they come due, voluntarily files or has filed limitation,providing for the Obligations in each budget submitted to obtain applicable
against it involuntarily a petition under the federal Bankruptcy Code or any other appropriations,causing approval of such budget,and exhausting all available reviews
present or homes federal or state bankruptcy or insolvency law,or a trustee,receiver or and appeals if an appropriation sufficient to satisfy the Obligations is not made.
liquidator is appointed for it or for all or a substantial pan of its assets;(t)any individual Notwithstanding anything to the contrary provided in the Lease, if Lessee does not
Lessee, Guarantor or Partner dies; (g) any material indebtedness of Lessee or any appropriate funds sufficient to make all payments due during any fiscal yew under the
Guarantor is accelerated or payment in full thereof is demanded; (h) Lessee or any Lease and Lessee does not otherwise have funds available to lawfully pay the Lease
Guarantor consolidates with,merges into or transfers all or substantially all its assets to payments(a'Non-Appropriation Event'),and provided Lessee is not in default of any
another entity or individual;or(i)Lessee fails to occupy the premises where any Item is of Lessee's obligations under such Lease as of the effective date of such termination,
located,or the mortgagee or owner of such premises asserts the right to take possession Lessee may terminate such Lease effective as of the and of Lessee's last funded fiscal
thereof or exercise eviction or other remedies under the mortgage or lease of such year("Termination Date")without liability for future payments or the early termination
premises. charge under such Lease, if any, by giving at least 60 days' prior written notice of
11. REMEDIES. At any time on or after an Event of Default,Lessor may in its sole termination("Termination Notice")to Lessor.If Lessee terminates the Lease prior to the
discretion,with or without canceling or terminating this Lease,exercise one or more of expiration of the end of such Lease's Initial Term,or any extension or renewal thereof,
the following remedies: (a)on written notice to Lessee,cancel or terminate this Lease; as permitted under the terms of the Lease or as set forth herein or in any Schedule,
(b)declare immediately due and payable and recover from Lessee the sum of all rent Lessee shall(i)on or before the Termination Date,return the Equipment subject to the
and other amounts then due in the current fiscal year;(c)enforce perfortance of,and/or terminated Lease in accordance with the rectum requirements set forth in such Lease,(it)
recover damages for the breach of, Lessee's covenants; (d)repossess the Equipment provide in the Termination Notice a certification of a responsible official that a Non-
wherever located,without notice or legal process;(e)exercise any other right or remedy Appropriation Event has occurred, (iii)deliver to Lessor, upon request by Lessor, an
available by law or agreement,Upon repossession,Lessor may retain the Equipment in opinion of Lessee's counsel(addressed to Lessor)verifying that the Non-Appropriation
full satisfaction of Lessee's obligations or may use reasonable efforts to sell or lease the Event as set forth in the Termination Notice has occurred,and(iv)pay Lessor all sums
Equipment in a manner and on terms as deemed appropriate by Lessor. Lessor will be payable to Lessor under such Lease up to and including the Termination Date.Lessee
entitled to any surplus and Lessee will be liable for any deficiency.Lessor may recover acknowledges and agrees that,in the event of the termination of a Lease and the return
06
OolfMwi,i sa_Muni ver.12.22.152928699/1320162:04 PM Paget
of the Equipment as provided for herein,Lessee shall have no interest whatsoever in the THE PARTIES HERETO, AFTER CONSULTING (OR HAVING
Equipment or proceeds thereof and Lessor shall be entitled to retain for its own account HAD AN OPPORTUNITY TO CONSULT) WITH COUNSEL OF
the proceeds resulting from any disposition or re-leasing of the Equipment along with THEIR CHOICE, KNOWINGLY AND VOLUNTARILY WAIVE
any advance rentals,security deposits or other sums previously paid by Lessee pursuant
to the terms of the Lease. The termination of a Lease under this Section shall not ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR
terminate this Master Lease or any other Leases made pursuant hereto,and shall not PROCEEDING RELATING TO THIS LEASE, INCLUDING ANY
terminate Lessee's obligation to make the required monthly payments for such Leases. ACTION TO ENFORCE THIS LEASE OR ANY RELATED
15. DELIVERY OF CERTAIN DOCUMENTS AND RELATED REQUIREMENTS. AGREEMENTS.
Lessee will execute or provide, as requested by Lessor, annual budget and financial 18 MISCELLANEOUS.This Lease constitutes the entire agreement between Lessee
information and such other documents and information,including an opinion of Lessce's and Lessor with respect to the subject matter hereof, there is no other oral or written
counsel as to the validity and enforceability of this Master Lease and any Schedules,as agreement or understanding. In Lessor's sole discretion, this Lease and related
are reasonably necessary with respect to the transaction contemplated by this Lease. If documents may be electronically copied and/or delivered by facsimile, telecopier or
Lessee is a"Registered Organization"(as such term is defined in the UCC),then Lessee other electronic means of transmission("ecopy'�and the ecopy of any document or
will:(i)upon request of Lessor,provide copies of its applicable registered organization the printed version thereof shall be deemed an original,and admissible as such in any
documents; and(it)not change its legal time or its chief executive office or state of court or other proceeding;provided that there shall be only one original counterpart of
organization,without,in each case,giving Lessor at least 30 days'prior written notice of each Schedule,and it shall bear the original signature of Lessor and be marked"Original."
any such event. To the extent a Schedule is"chattel paper",a security or ownership interest may only be
16. EXCESS USAGE AND SUPPLEMENTAL RENTALS(APPLICABLE TO TURF created therein by transferring the "Original" bearing Lessor's original signature. If
CARE AND MAINTENANCE EQUIPMENT ONLY).At the end of the Initial Term, Lessor permits Lessee to deliver this lease or any related document to Lessor via facsimile
Lessee shall remit to Lessor$5.00 per how on each Item that has lowly use in excess of or other electronic means, Lessee shall deliver to Lessor, promptly on request, such
the maximum hows as indicated on the applicable Schedule. Lessee shall remit such document bearing Lessee's original'Wet ink"signature;provided that neither delivery nor
amounts within ten(10)days of Lessor's written demand.The hours of use of an Item failure to deliver the document bearing Lessee's original %vet ink"signature shall limit or
shall be determined by the hour meter attached to said Item,provided that such meter modify the representalions and agreements set forth above.Except as expressly set forth
remains operable and accurate. If any such hour meter becomes inoperable or herein,this Lease may not be amended or modified except by a writing manually signed
inaccurate, Lessee shall immediately repair or replace same, and shall immediately by the parties.Lessee shall pay Lessor's costs,fees and expenses incurred in connection
notify Lessor in writing of such event and of the correct hours of usage of the Item with any amendment,waiver,release,cancelation or temdnation of this Lease or any
during the period of time the how meter was inoperable or inaccurate. Lessee shall related document,financing statement,title certificate or instrument,including but not
promptly famish Lessor such information as Lessor may reasonably request from time limited to filing and recording fees.This Lease is binding on and inures to the benefit of
In time in order to document the hours ofusage ofthe Equipment. the parties hereto,their permitted successors and assigns. Any written notice hereunder
17. GOVERNING LAW; JURY TRIAL WAIVER THIS LEASE, shall be deemed given when delivered personally, deposited with a nationally
AND ALL MATTERS OF THIS LEASE, INCLUDING ALL recognized overnight courier(with all fees pre-paid),delivered via facsimile or e-mail
INTEREST AND FINANCE CHARGES HEREUNDER,SHALL BE (with confirmation of transmission),or deposited in the United States mails,certified or
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, registered mail,addressed to recipient at its address set forth above or such other address
FEDERAL LAW AND,TO THE EXTENT NOT PREEMPTED BY as may be substituted therefor by notice given pursuant to the terms hereof. Lessee
FEDERAL LAW, BY THE LAWS OF THE STATE OF hereby agrees that Lessor, including its vendors,service providers,partners,affiliates,
successors and assigns,may contact Lessee at any telephone number provided to Lessor,
MINNESOTA (EXCLUDING CONFLICTS LAWS). LESSEE by placing voice telephone calls(including use of automatic telephone dialing systems
HEREBY CONSENTS TO JURISDICTION AND VENUE OF THE or prerecorded voice messaging)or,in the case ofwireless telephones or other wireless
FEDERAL OR STATE COURTS SITTING IN THE STATE OF devices,by sending e-mail or automated ISMS)text messages. If more than one Lessee
MINNESOTA FOR RESOLUTION OF ALL ➢ISPUTES OF ANY is named herein,the obligations of each shall be joint and several.Lessee authorizes,
and represents that all Lessees principals have authorized,Lessor to obtain such credit
NATURE WHATSOEVER REGARDING THIS LEASE OR ANY
bureau reports and make such other credit inquiries with respect to Lessee and such
TRANSACTION CONTEMPLATED HEREBY. LESSEE AGREES principals as Lessor deems appropriate throughout the term of this Lease;on written
THAT, AT LESSOR'S SOLE ELECTION AND request, Lessor will identify any reporting agency used for such a reports. Lessee
DETERMINATION,LESSOR MAY SELECT AN ALTERNATIVE warrants and agrees that the Equipment is leased and will be used for business purposes
FORUM, INCLUDING ARBITRATION OR MEDIATION, TO only,and not for personal,family or household purposes. Our institution complies with
ADJUDICATE ANY DISPUTE ARISING OUT OF THIS LEASE. Section 326 of the USA PATRIOT Act. This law mandates that we verify certain
information about you while processing your account application.
Lessor: TCF Equipment Finance,a division of TCF By: Operations-T.C.
National Bank
Lessee: City of Palm Springs,CA x By: Print Name:
Title:
07
Golf Miolerleam Muni ver.12.22.15 292869 9113.,2116 2 06 PM Page 3
td Equipment Schedule
equipnce ment
f ina (Fair Market Value Purchase Option)
The-Lease": Equipment Schedule Number 008-0185560-100 Dated September 13,2016 to Master Lease Number 185560L Dated September 13,2016
"Lessee"
City of Palm Springs,CA,3220 East Tahquitz Canyon Way,Palm Springs,CA 92262
Contact:null null Phone:
"Lessor"
TCF Equipment Finance,a division of TCF National Bank,1111 West San Maroon Dr,Suite A2 West,Waterloo,IA 50701-8926
This Equipment Schedule(this"Schedule")is entered into pursuant to and incorporates the terms of the Master Lease(except as expressly modified by this Schedule)
identified above between Lessor and Lessee(the"Master Lease"and,together with this Schedule,this"Lease").All capitalized terms not otherwise defined in this
Schedule have the meanings assigned in the Master Lease.Upon execution and delivery of this Schedule by Lessor and Lessee,and Lessee's acceptance of the Equipment
described below,Lessor leases to Lessee and Lessee leases from Lessor the Equipment on the terms and conditions of this Lease.
SUMMARY OF TERM AND RENTAL PAYMENTS:
Commencement Initial Term Rent Payment Each Rent Payment Advance Rent Interim Rent Security Deposit
Date 36 Period $13,396.81 Payments) Daily Factor
Months Monthly plus applicable taxes N/A N/A N/A
except financed sales tax For Installmems(s):
included in Total Cost N/A
EQUIPMENT,PERSONAL PROPERTY,SERVICES AND/OR SOFTWARE he'Equipment"
Description(including features Location
(152)2017 EZGO TXT Electric Golf Can together with all attachments and accessories 3220 East Tahquitz Canyon Way,Palm Springs,CA
thereto 1 92262
Each Rent Payment shall be payable in arrears on the dale that is one month after the Commencement Date and on the same day of each subsequent Rent Payment Period for the
Initial Term and any renewal term.
The following additional provisions apply to the Equipment and this Lease only:
I. So long as this Lease has not been canceled or terminated early and no Event of Default exists,upon expiration of the Initial Term("Lease End"),Lessee may
purchase all,but not less than all,of the Equipment for the Fair Market Value of the Equipment,plus all sales and use taxes arising on the sale of the Equipment.
For purposes of this Lease,"Fair Market Value"of the Equipment at any time means the estimated amount that a willing buyer and a willing seller would pay for
the Equipment on an installed basis,as mutually determined by Lessor and Lessee.If Lessor and Lessee are unable to mutually determine the Fair Market Value,
at Lessee's request and expense,Lessor shall select and hire a third-party certified appraiser to determine the Fair Market Value,and such appraiser's
determination shall be binding on the Lessor and Lessee. To exercise the foregoing purchase option,Lessee must give written notice thereof to Lessor at least 90
days and no more than 120 days prior to Lease End.If Lessee fails to give such notice,or if the parties cannot agree on the Fair Market Value of the Equipment
by 45 days before Lease End,then the purchase option shall lapse.If the purchase option lapses,then at least 30 days before Lease End or the end of any renewal
term,Lessee must give Lessor notice of its intent to return the Equipment and request return location instructions.If Lessee fails to give such notice,or gives
notice but fails to return the Equipment in accordance with Section 5 of the Master Lease,this Lease will automatically renew,at the same rental and other terns
set forth in this Lease,for additional successive noncancelable one-month terms after the Initial Term until timely written notice of return and proper return of the
Equipment is made.
2. If Lessee gives timely notice of election to purchase the Equipment as provided in paragraph I and fails to timely pay the purchase price,then Lessor may,in its
sole discretion,by written notice to Lessee(a)treat the Equipment as purchased and enforce payment of the purchase price,(b)declare a failure to meet the
purchase conditions whereupon Lessee's interest in the Lease and Equipment shall automatically be canceled and Lessee shall return the Equipment in
accordance with Section 5 of the Master Lease,or(c)treat the Lease as automatically renewed,at the same rental and other terms set forth in this Lease,for
additional successive noncancelable one-month terms after the Initial Term until timely written notice of return and proper return of the Equipment is made.
3. Upon Lessee's exercise of the purchase option and Lessor's receipt of the purchase price plus applicable sales and use tax and any rent or other amount owing
under this Lease,the Equipment will be deemed transferred to Lessee at its then location and,on Lessee's request at such time,Lessor will deliver to Lessee a
bill of sale for the Equipment,"WHERE IS,AS IS"WITHOUT ANY WARRANTY AS TO TITLE OR WITH RESPECT TO THE EQUIPMENT,EXPRESS
OR IMPLIED.
4. If Lessor suffers a Tax Loss because,for federal or state income tax purposes,for any reason, this Lease is not a true lease or Lessor otherwise is not entitled to
depreciate the Equipment in the manner Lessor anticipated when entering into this Lease,then Lessee shall pay Lessor,as additional rent hereunder,a lump'surn
amount which,after payment of all federal,state,and local income taxes on the receipt of such amount,and using the same assumptions as to tax benefits and other
matters Lessor used in originally evaluating and pricing this Lease,will in Lessor's reasonable opinion maintain Lessor's net after-tax rate of relator with respect to this
Lease at the same level it would have been had such Tax Loss not occurred.Lessor will notify Lessee of any claim that may give rise to indemnity hereunder and will
make a reasonable effort to contest any such claim at the administrative level of the applicable taxing authority.Lessor shall control all aspects of any settlement and
contest,and Lessee agrees to pay the legal fees and other out-of-pocket expenses thereof even if Lessor's defense is successful.Notwithstanding the foregoing,Lessee
will not be obligated to indemnify Lessor for any Tax Loss caused solely by(a)a casualty Loss to the Equipment if Lessee pays the amount required under Section 8
of the Master Lease,(b)Lessors sale of the Equipment other than on account of an Event of Default,(c)failure of Lessor to have sufficient income to utilize its
anticipated tax benefits or to timely claim such tax benefits,and(d)tax law changes,including rates,effective after the Lease begins.Lessee's indemnity obligations
hereunder shall survive cancelation and termination of this Lease.For purposes of this paragraph, the term"Tax Loss",means Lessor's loss of,or loss of the right to
claim,or recapture of,all or any part of the federal or state income tax benefits Lessor anticipated as a result of entering into this Lease and owning the Equipment;
and the term"Lessor"shall include any member of an affiliated group of which Lessor is(or may become)a member if consolidated tax remains are filed for such
affiliated group for federal income tax purposes.
Lessor: TCF Equipment Finance,a division of TCF By: Operations-T.C.
National Bank
Lessee: City of Palm Springs,CA x By: Print Name:
Title:
min,Mester SChFMV ver.M.23.15 2928fi9 SA 9,13/20161 Ja PM Page I
OPINION OF COUNSEL
(To be on Attorney's Letterhead)
Date:
Lessee: City of Palm Springs,CA
3220 East Tahquitz Canyon Way,
Palm Springs,CA 92262
Lessor: TCF Equipment Finance,a division of TCF National Bank
I I I I West San Maman Dr, Suite A2 West
Waterloo,IA 50701-8926
Re: Contract 008-0185560-100,dated as of September 13,2016,by and between City of Palm Springs,CA and
Lessor
Ladies and Gentlemen:
I have acted as counsel to Lessee with respect to the contract described above (the "Lease") and various related
matters, and in this capacity have reviewed a duplicate original or certified copy of the Lease and exhibit thereto.
Based upon the examination of these and such other documents as I deem relevant,it is my opinion that:
1. Lessee is a public corporation and political subdivision of the State of California(the"State")duly organized,
existing and operating under the Constitution and laws of the State. The full,true and correct legal name of Lessee
is
2. The Uniform Commercial Code,as adopted in the State(the"UCC"),and no other statute of the State,governs
the creation,perfection,priority or enforcement of a security interest created by Lessee.
3. Lessee is authorized and has power under State law to enter into the Lease,and to carry out its obligations
thereunder and the transactions contemplated thereby.
4. The Lease and the other documents described above have been duly authorized,approved,executed and
delivered by and on behalf of Lessee,and the Lease is a valid and binding contract of Lessee enforceable in
accordance with its terms,except to the extent limited by State and Federal laws affecting remedies and by
bankruptcy,reorganization or other laws of general application relating to or affecting the enforcement of creditors'
rights.
5. The authorization,approval and execution of the Lease and all other proceedings of Lessee relating to the
transactions contemplated thereby have been performed in accordance with all open meeting laws,public bidding
laws and all other applicable State and Federal laws.
6. The execution of the Lease and the appropriation of moneys to pay the payments coming due under the Lease do
not result in the violation of any constitutional,statutory or other limitation relating to the manner,form or amount
of indebtedness which may be incurred by Lessee.
7. There is no litigation,action,suit,or proceeding pending or before any court,administrative agency,arbitrator or
governmental body,that challenges the organization or existence of Lessee;the authority of the organization or
existence of Lessee;the authority of its officers; the proper authorization,approval and execution of the Lease and
the other documents described above;the appropriation of monies to make Rental Payments under the Lease for the
current fiscal year,or the ability of Lessee otherwise to perform its obligations under the Lease and the transactions
contemplated thereby.
09
Golf GpinionOlCourxl va.OL21.14292869 SA 9/13Q016 1 31 PM
Page 1
This opinion of counsel may be relied upon by Lessor and its successors and assigns.
Very truly yours,
Golf OpinionWo=el vn.01 21.13292H695A 91132016151 PM Page 2 10 III
RESOLUTION
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,1111 West San Marnan 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
of the Lessee,is hereby authorized to negotiate,enter into,execute,and deliver the Lease and related documents in
substantially the form as 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. This resolution shall take effect immediately upon its adoption and approval.
XCERTIFIED AS TRUE AND CORRECT this day of ,20
x
Signature of Clerk,Secretary or Assistant Secretary
x
Printed Name of Clerk,Secretary or Assistant Secretary
11
Golf FW Rewlmion Muni v 06.03.162928699/13/20161:31 PM
tcf
equipment
finance
CERTIFICATE OF INCUMBENCY
LEASE NO.008-0185560-100
DATED AS OF JUNE 30,2016
XI, , do hereby certify that I am the duly elected or appointed and
acting Clerk/Secretary of City of Palm Springs, CA (the "Lessee"), a political subdivision duly organized and existing
under the laws of the State of Florida,and that,as of the date hereof,the individuals named below are the duly elected or
appointed officers of the Lessee holding the offices set forth opposite their respective names.
xNAME TITLE SIGNATURE
XIN WITNESS WHEREOF,I have duly executed this certificate this day of 20
XSigned:
xTitle:
NOTE: The Clerk or Secretary to the Board should sign unless that person is also the signor of the documents in which case the Board President or
some other Officer of the District should execute this document.
Muni.Lease v.08.19.15292869 SA N3W201612.02 PM 2
i
1 1
tcf Insurance Certificate Request
equipment
finance
11100 Wayzata Blvd,Suite 801 Minnetonka,MN 55305
To To Whom It May Concern From Marisa Meyers
Company Fax (866)465-3149
Fax Phone (800)215A738 x
Phone Email mmeyers@financediv.com
Subject INSURANCE CERTIFICATE REQUEST Date September 13, 2016
Message:
Our mutual customer, City of Palm Springs, CA, is leasing equipment through TCF Equipment Finance,a division of
TCF National Bank. We are in need of an INSURANCE CERTIFICATE for the equipment leased prior to us closing out
their transaction. Please see below for specifics. Thanks!
Please include the following items on the certificate:
1. INSURED: City of Palm Springs, CA, 3220 East Tahquitz Canyon Way, Palm Springs,CA 92262
2. COVERAGES:
• Liability Insurance—Minimum$1,000,000.00 per occurrence in Combined Single Limit or such greater
minimum as may be prescribed by any applicable state law specifying minimum insurance requirements.
➢ Policy Number
➢ Policy Effective Date&Policy Expiration Date
• Property Damage—Cost: $642,033.44 or ACV
➢ Comprehensive&Collision Deductibles(if applicable)or Physical Damage Deductible (Shall
not exceed $10,000 or 10%of Total Cost)
➢ Policy Number
➢ Policy Effective Date &Policy Expiration Date
3. DESCRIPTION OF EQUIPMENT:
(152) 2017 EZ-GO TXT Electric Golf Cars together with all attachments and accessories thereto
Or reference: "Leased Equipment on TCF Contract Number 008-0185560-100", if the description is too long
4. TCF National Bank,its successors and assigns needs to be listed as Loss Payee&Additional Insured on the
Insurance Certificate.
If you have any questions,please feel free to contact me. Please send the certificate to my attention as soon as possible to
mmeyers@financediv.com or fax to(866)465-3149. Thank you!
Marisa Meyers
Senior Transaction Coordinator
TCF Equipment Finance, a division of TCF National Bank, I I I I West San Martian Dr, Suite A2 West, Waterloo, IA
50701-8926
111E INFORMATION CONTAINED IN THIS FACSNIILE IS CONFIDENTIAL AND IS INTENDED MILY FOR THE USE OF TILE INDIVIDUAL NAMED ABOVE. IF THE HEADER OF THIS INFORMATION 15 NOTTHE
INTENDED RECIPIENT,YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION,DISTRIBUTION OR COPYING OF MIS COMMUNICATION IS STRIRLY PROHIBITED AND YOU ARE DIRECTED TO
DESTROY TT.IF YOU IIAVE RMCF.IVIU MIS COMMUNICATION IN ERROR,PLHASE CONTACT US IMMEDIATELY BY TELEPHONE AT 80"2-7311.
Insurance C,LLR,Luwl LLwvw.09.03.14292WSA 9113i2016 1 31 PM 13
10
I�i11100 Wayzata Boulevard,Suite 801 RetnWAnce 3WIon
IMinnetonka,MN 55305 Invoice Number:
equipment Customer Number: 185560
finance Address Service Required Contract Number(s): 008-0185560-100
Past Due Amount: 11/5/2016
Total Amount Due: $14,602.52
Make check payable to:
City of Palm Springs, CA
3320 East Tahquitz Canyon Way TCF Equipment Finance
Palm Springs, CA 92262 PO Box 77077
Minneapolis MN 55480-7777
Please detach the above remittance portion and return with your payment.Thank You
`Cf 11100 Wayzata Boulevard,Suite 801 Invoice Number:
Minnetonka,MN 55305 Customer Number: 185560
equipment Contract Number(s): 008-0185560-100
finance Invoice Due Date: 11/5/2016
Past Due Amount: $0.00
Fer Cwm .r Seryi�e,Cell 86e-311-2755 Total Amount Due: $14,602.52
Woke Ddift
Current Past Due Past us as Due
Contract Number Invoice Description Charges 130 Days 31.60 Days 61+Days Total Due
008-0185560-100
Monthly Payment $13,396.81 $13,396.91
Tax $1,205.71 $1,205.71
Total $14,602.52 $0.00 $0.00 $14,602.52
14
10
1 tc.'f Invoice
equipment
finance
Date of Invoice: 09/13/2016
Application Number: 292869
Contract Number: 008-0185560-100
To: City of Palm Springs, CA
3220 East Tahquitz Canyon Way
Palm Springs, CA 92262
Advance Payments/Security Payments/Security Deposit
Description Contract Payment Sales/Use Tax Other Amount
First Payment in Advance $0.00 $0.00 $0.00
Last Payment in Advance $0.00 $0.00 $0.00
$0.00 $0.00
Sub Total $0.00
Other Fees/Charges
Fee Description Amount
Documentation Fee $250.00
Other Fees/Charges Sub Total $250.00
Invoice Total Due
Invoice Total Due $250.00
Remit Payment with 866465-3149
Completed Documents to: OR
TCF Equipment Finance, a division of TCF
National Bank
1111 West San Marnan Dr, Suite A2 West
Waterloo,IA 50701-8926
15
Invoice WMM00 v.ONO)12292869 SA 9A3,20161'.41 PM
10
tCf Delivery and Acceptance
em pment
finance
"Lessee"
City of Palm Springs,CA,3220 East Tahquitz Canyon Way,Palm Springs,CA 92262
"Lessor"
TCF Equipment Finance,a division of TCF National Bank 1111 West San Marnan Dr,Suite A2 West,Waterloo,IA 50701-8926
Delivery and Acceptance agreement attached to and made a part of Lease 008-0185560-100 dated June 30,2016(the"Lease").
This Certificate relates to the Equipment(the"Equipment")that is described in the Lease.
Pursuant to the Lease, Lessee acknowledges that Lessor has acquired the Equipment in connection with the Lease and Lessee has either
received a copy of the purchase agreement with the vendor of the Equipment on or before signing the Lease or has approved such purchase.
Lessee hereby represents, warrants and certifies that(i)all of the Equipment has been delivered to Lessee at the Equipment Location set
forth in the Lease and has been installed, tested and inspected by Lessee or duly authorized representatives of Lessee, (ii)the Equipment
Description set forth in the Lease is complete and correct,(iii)the Equipment,together with any supporting documentation,is exactly what
Lessee ordered, is in good working order, is satisfactory in all respects and has been accepted by Lessee under the Lease as of the
Acceptance Date set forth below, and lie) there has been no adverse change in the business or financial condition of Lessee or any
guarantor of the Lease since the day the most recent financial statement of Lessee or any guarantor was submitted to Lessor. If Lessee has
made a deposit to the Equipment vendor(s),by signing this Certificate,Lessee hereby transfers all of Lessee's right,title and interest in and
to the Equipment to Lessor,except to the extent set forth in the Lease,whether or not Lessee has been reimbursed for the deposit(s).
IMPORTANT: LESSEE SHOULD SIGN THIS CERTIFICATE ONLY AFTER LESSEE HAS RECEIVED AND IS COMPLETELY
SATISFIED WITH THE EQUIPMENT. BY SIGNING THIS CERTIFICATE, LESSEE (1) IS IRREVOCABLY ACCEPTING THE
EQUIPMENT, (2) BECOMES ABSOLUTELY AND IRREVOCABLY OBLIGATED TO LESSOR UNDER THE LEASE, AND (3)
MAY NOT THEREAFTER REJECT THE EQUIPMENT, CANCEL OR TERMINATE THE LEASE OR DENY ANY STATEMENT
MADE IN THIS CERTIFICATE,FOR ANY REASON WHATSOEVER
Acceptance Date:
Lessee: City of Palm Springs,CA x By: Title:
XPrinted Name:
Please Complete and return this document by Fax to 800-741-8079 upon delivery and
acceptance of the financed Equipment.
16
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E-Z- GOO TXT
TIME-TESTED PERFORMANCE.PROVEN INNOVATION.
Give your golfers a superior experience with the upgraded
TXT.Now packaged with even more smart features, only
the TXT combines almost two decades of dependable
performance with proven innovation securing its spot
as the industry's most trusted golf car.
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A Textron Company
17
www.ezgo.com
E-Z- GO TXT
Trusted performance is just the beginning.The TXT delivers loads of smart new features to increase convenience
and comfort for your golfers,from larger seats and increased dash storage to a USB port for GPS,range finders
and smart phones.The redesigned TXT offers more than a new look;it brings a new standard for your golfers.
PROVEN DEPENDABILITY FEATURES CUSTOMERS NOTICE SMART DESIGN
. Class leading Innovation for almost • Oversized bagwell . Updated,modern styling
two decades . Larger seatbacks provide . Simplified F-N-R control for
. Best-in-class 48V DC electric or 23%more support easier operation
13.5-hp gas drivetrain . Expanded in-dash storage offers . Stronger,redesigned hip restraints
. Customizable TruCourse Technology 30%more space . Sun canopy with unique drip edge and
Industry leading battery • Wider,taller cupholders hold 25%stronger struts
warranty options 44%more volume . Battery fill system simplifies
. Fade-resistant automotive . Repositioned ball holders for maintenance(optional)
quality paint easy reach . Steel reinforced front and rear bumpers
. Durable TPO-construction body . Convenient USB port(optional)
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OUR COMMITMFNT TO
green
Gas-powered model features a 13.5-hp Kawasakia'engine with
hemispheric combustion chamber for better fuel economy(exceeds
EPA/GARB standards)
• Electric model features quiet,zero-emissions 48-volt electric drivetrain
• Foam seating constructed from 100%recycled materials
• Sloped surface design requires less water when cleaning
• Repairable seat components minimize landfill usage
• Utilizes recyclable plastic components
• Manufactured in IS014001-certified facility
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ELECTRIC GAS
DIMENSIONS -+ .w 'epsmYK'&_RB:NCbAN.:i onFs:H, v,.r...�• _ f- ,c:m;'aaa .y.rw.• y,. -:.
Overall Length 93.0 In(236 pnl �! 93.0 in(236 curt
Overall Width 47.0 in(119 cm) 47.0 in 019 cm)
Overall Hereof(w/o root) 46.5 in(118 cm)(top of steering wheel) 46.5 in(118 cm)(tap of steering wheel)
Overall Height(w/roof) 67.5 in T71 cm)(top of sun canopy) 67.5 in(171 cm)(top of sun canopy)
Wheel Base 66.0 in(168 cml 66.0 in(168 cm)
Front Wheel Track 34.0 In(86 cm) 34.0 in(66 cml _
Rear Wheel Track 38 5In 07 cm) 38.5 in(97 cm)
Ground Clearance W Differential 4.5 in(11 cm) 425 in(10.8 eon)
POWER - _
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Power Source 48 Volt DC 4-Cycle 24.5 cu in(401 cc)Law Emissions
Valve Train N/A Single Cylinder OHV
Motor Type Shunt Wound N/A
Horsepower FW) 3.0 To(2.2 kW)Continuous 13.5 no 00.1 kW)Exceeds SAE J1940 Std
Electrical System 48 Volt Starter/Generator—Said State Hegulator
Batteries(gryttype) Six,8 Volt Deep Cycle One,12 Volt Maintenance Free
Key or Pedal Start Pedal Pedal
Air Cleaner N/A Industrial-Ratan Dry Filter
Lubrication HIM Prossuri¢ed Oil System
Oil Filter N/A Spin On
Dealing System N/A Air Cooled
Fuel Capacity N/A 58 Gallon(20 L)
Battery Charger 48 VDC PowerWlse DE,120 VAC,UL&CSA N/A
Speed Conlmller 250 Amp Solid State Controller N!A
Drivetrain Motor Shaft Direct Drive Continuously Variable ransmisslon(CV')
Trani Differential with Helical Gears Differential with Helical Gears
Gear Selection Seal Mounted Forward-Neutral-Reverse forward-Reverse
Rear Axle Ratio 12.44.1 11.42.1(Forward)15.78.1(Reverse)
Battery Warranty 25,000ani(When equipped with single point watering system) N/A
Key Switch Unique Group,Unique Individual Unique Group,Unique Individual
Programmable Golf Modes Coastal,Mild HIII,Steep HIII N/A
Altitude Settings N/A 0-3,000 ft,3,UOO-6,OOC fL 6.000-10,00011
PERFORMANCE iGemtiH':..ecshx.;rm,ailis^F..uTds+45bP .:s .t . :i- �..x. ...�„..,,a .� ., f t �.Jr✓.#:4eek .crac•:::,:.. .
Sealing Capacity 2-Passenger 2-Passenger
Dry Weight(w/o batteries) 5571b(253 kg) 760 to(344 kg)
Curb Weight 9351b(424 kg) 7801b(354 kg)
Vehicle Load Capacity BOO lb 1363 kg) _ 80C Ib(363 kg)
Outside Clearance Circle I ft(5.8ad 19fl(S.8m)
Speed(level ground) 10.2-14.8 mph(16.4 kph-23.8kph) 13.0 mph z 0.5 mph(210 kph m 08 kph)
Towing Capacity Three E-Z-GO Golf Cars with Approved Permanent Tow Bar Three E-Z-GO Golf Cars with Approved Permanent low Bar
STEERING A SUSPENSION :.a.+w'',svra sxs>.rxia""�"""••" �, _. .._-. t�,�f:veo- sr, n.r : =kl. gsvea3Yaw ,_r ,
Steering Selt-Compensating Rack and Pinion Self CompensatingRack and Pinion
Suspension Leaf Springs with Hydraulic Shock Absorbers I for Springs with Hydraulic Shock Absorbers
Service Brake Rear Wheel Mechanical Self AdjustingDrum Rear Wheel Mechanical Self-Adjusting Drum
Parking Brake Self Compensating,Single Point Engagement Self Compensating Single Point Engagement
Tires 18 x 8.50-8(4-ply rated) 16x8.50-8(4-plyrated)
BODY ACHASSIS ^_Bin. S :YKm2eN!PfaYf1M^.;pa`+ldD'BW.Y%tVA' va..,+'.u.'f:.n� a.,t..syi.:? kA- !::^.«sew st',xa•ren.,t. ..;,
Frame Welded Steel with Powder-Coat Protection Welded Steel with Powder Coat Protection
Body&Finish Injection Molded TIED Injection Molded TPO
Standard Body Color Ivory or Forest Graen Ivory or Forest Green
Optional Body Colors Almond,Barley Gold,Black,Burgundy,British Racing Green,Electric Blue, Almond,Barley Gold,Black,Burgundy,British Racing Green,Electric Blue,
Flame Red,Inferno Red,Java Brown,Metallic Charcoal,Oasis Green, Flame Red,Inferno Red,Java Brown,Metallic Charcoal,Oasis Green,
Patriot Blue,Platinum,Steel Blue,Sunburst Orange Patriot Blue,Platinum,Steel Blue,Sunburst Orange
(custom colors also available) (custom colors also available)
Standard Seal Color Oyster Oyster
Optional Seat Colors Tan,Gray(custom colors also available) Tan,Gray (custom colors also available)
Pinstripe Colors Black,Burgundy,Dark Green,Gold Pewter,Red White Black,Burgundy,Dark Green,Gold,Pewter,Red,White
Features and specifications of vehicles subject to change without notice.Vehicles as photographed may include
options not included on base model.C2014 E-Z-GO Division of Textron Inc.All rights reserved.8220D8-GB
A Textron Company 20