HomeMy WebLinkAboutCity of Tamarac Resolution R-2000-0431
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Temp. Reso. #8918
February 9, 2000
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2000 -4,3
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA, APPROVING THE
EXECUTION AND DELIVERY OF CERTAIN LEASE
DOCUMENTS IN CONNECTION WITH THE
PROPOSED FINANCING OF VEHICLES AND HEAVY
EQUIPMENT UNDER THE EXISTING AND APPROVED
MASTER LEASE -PURCHASE AGREEMENT BETWEEN
THE CITY AND SUNTRUST BANK, SOUTH FLORIDA,
NATIONAL ASSOCIATION; AMENDING THE ANNUAL
BUDGET OF ESTIMATED REVENUES AND
EXPENDITURES FOR THE PURCHASE; PROVIDING
FOR THE REPEAL OF CONFLICTING RESOLUTIONS;
PROVIDING FOR SEVERABILITY; AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, by Resolutions previously adopted by the City Commission
this date, the City has approved the acquisition of vehicles and heavy equipment
(the "Equipment"); and
WHEREAS; the City has determined that it is in the best interests of the
City and its citizenry to acquire the Equipment pursuant to a lease -purchase
financing arrangement with SunTrust Bank, South Florida, National Association
(the Lessor") and
WHEREAS; the City wishes to utilize the existing approved Master Lease
as approved by City of Tamarac Resolution 99-346, December 22, 1999, and
Temp. Reso. #8918
February 9, 2000
Page 2
WHEREAS; the lease documents and various closing documents related
to the lease -purchase financing of the Equipment will be finalized and
substantially final forms of such documents to be on file with the City Clerk; and
WHEREAS, the City Commission on the 23rd day of
February, 2000 adopted Resolutions approving the lease -purchase contract with
SunTrust Bank, N.A. in the amount of $562,970 for the purchase of various
vehicles and heavy equipment; and
WHEREAS, the acceptance of these funds requires the amending of
budgeted revenues and expenditures of appropriate City Funds, and
WHEREAS, the City Manager has recommended these amendments to
the Fiscal Year 2000 budget to properly account for all budgetary actions related
to the lease -purchase of the Equipment, and
WHEREAS, the City Commission of the City of Tamarac, Florida deems it
to be in the best interest of the citizens and residents of the City of Tamarac to
amend the FY 00 Budget to address the actions needed to implement the lease -
purchase of the Equipment.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and
confirmed as being true and correct and is hereby made a specific part of this
0 Resolution.
Temp. Reso. #8918
February 9, 2000
Page 3
Section 2: The appropriate City Officials are hereby authorized to enter
into a lease -purchasing agreement with SunTrust Bank, N.A., South Florida; the
principal amount interest rate and other repayment terms set forth in the
schedule terms are hereby approved.
SECTION 3: The budget of the City of Tamarac is hereby amended, in
accordance with the Equipment Lease -Purchase Document and all necessary
budgetary transfers of funds are hereby approved.
SECTION 4: All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
SECTION 5: If any clause, section, other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or
invalid, in part or application, it shall not affect the validity of the remaining
portions or applications of this Resolution.
Temp. Reso. #8918
February 9, 2000
Page 4
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SECTION 6: This Resolution shall become effective immediately upon its
passage and adoption.
PASSED, ADOPTED AND APPROVED this a2� V day of, 2000
ATTEST:
CAROL GO CMC/AAE
I HEREBY CERTIFY that I have
ro ed this RESOLUTI N as to form
MITC KRAFT, CITY ATTqRNE
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