HomeMy WebLinkAbout1992-12-08 - RESOLUTIONS - ENERGY CONSERVATION EQUIPMENT (2)RESOLUTION NO. 92-235
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA CLARITA, CALIFORNIA,
AUTHORIZING THE CITY TO ENTER INTO A CONTRACT
AGREEMENT FOR THE ACQUISITION AND INSTALLATION OF
VARIOUS ENERGY CONSERVATION EQUIPMENT
WHEREAS, the City of Santa Clarita, County of Los Angeles, State of California
("City") is duly authorized and existing under the Laws of said State; and
WHEREAS, the City will enter into agreements with Honeywell, Inc. for the
acquisition and installation of various energy conservation equipment ("Property") all in
accordance with applicable public contract codes; and
WHEREAS., the governing body has determined it is in the best interests of the City
and the citizens it serves to secure lease -purchase financing to provide moneys in the
approximate amount of $144,807.00 necessary to pay for the Property; and
WHEREAS, Municipal Leasing Associates, Inc. ("Corporation") has offered the City
a cost effective lease financing arrangement requiring periodic rental payments including
principal plus interest computed at a 6.67% annual percentage rate; and
WHEREAS, the City Manager or the Assistant City Manager acting alone shall be
hereby authorized in the name and on behalf of City to enter into binding agreements with the
Corporation for leasing the Property and additional equipment ordered thereafter upon such
terms as may seem advisable to said officer(s), and to execute, as agent for the City, all
necessary agreements including, but not limited to, a Lease/Option Agreement, purchasing
agency agreements, acknowledgement of assignment and acceptance certificate. Each officer
is also authorized to accept or direct delivery of the Property; and
WHEREAS, the City of Santa Clarita declares its official intent to be reimbursed from
the proceeds of the Lease/Option Agreement approved hereby for up to a maximum of
$144,807.00 of prior expenditures in the event the City elects to disburse monies from its
own reserves for acquiring the Property and such declaration of official intent to reimburse is
issued pursuant to Section 1.103-18 of the Federal Income Tax Regulations. This declaration
of official intent shall be made available for public inspection as City Hall within thirty days
after this resolution has been ratified.
NOW; THEREFORE, BE IT RESOLVED, that the City Council of the City of Santa
Clarita does hereby consent to enter into a contractual agreement with Municipal Leasing
Associates, Inc. for the acquisition and installation of various energy conservation equipment.
PASSED, APPROVED, AND ADOPTED this 8th day of December 1992.
J ice Heidt, Mayor
ATTEST:
onna M. Grifidey, City C
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF SANTA CLARITA )
I, Donna M. Grindey, DO HEREBY CERTIFY that the above and foregoing
Resolution was duly adopted by the City Council of the City of Santa Clarita at a regular
meeting thereof, held on the 8th day of December 1992 by the following vote of
Council:
AYES: COUNCILMEMBERS: Hoyer, Darcy, Pederson, Heidi
NOES: COUNCILMEMBERS None
ABSENT: COUNCILMEM13ERS Kl a j i c
�foG
nna M. Grm y, City Clerk/