Resolution Number 18-01-16-02RESOLUTION NO. 18-01-16-02
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN
CAPISTRANO, CALIFORNIA AUTHORIZING THE EXECUTION AND
DELIVERY OF A MASTER LEASE PURCHASE AGREEMENT WITH
SIEMENS PUBLIC, INC., AND AUTHORIZING CERTAIN ACTIONS IN
CONNECTION THEREWITH
WHEREAS, the City of San Juan Capistrano (the "City") is a municipal
corporation duly organized and existing under and pursuant to the Constitution and laws
of the State of California; and,
WHEREAS, the City desires to provide for financing in the approximate amount
of $452,388 for the acquisition of certain energy efficient outdoor lighting fixtures to be
installed within the City (the "Improvements"); and,
WHEREAS, Siemens Public , Inc. ("Siemens") has proposed a cost-effective
lease purchase financing arrangement for the acquisition of the Improvements, as set
forth in that certain Master Lease Purchase Agreement between Siemens and the City
(the "Lease"), which has been presented to the Council and is on file with the City Clerk;
and,
WHEREAS, the City has determined that this lease financing arrangement is the
most economical means for providing the Improvements to the City.
NOW, THEREFORE, BE IT FURTHER RESOLVED, by the City Council of the
City of San Juan Capistrano as follows:
SECTION 1. Authorization to Enter into Lease . The City Council hereby
authorizes the City to enter into the Lease in a principal amount which shall not exceed
$500,000 and on an interest rate not to exceed 5 .0%. The City Manager (the "City
Manager") and the Director of Finance (the "Director of Finance") of the District are
authorized and directed to take all steps and actions which are necessary to accomplish
execution of the Lease pursuant to the authorization given by and the conditions
specified in this resolution. The City Manager, Director of Finance or their designees,
are authorized to execute the Lease for and on behalf of the City.
SECTION 2. Approval of Master Lease Purchase Agreement. The City Council
approves and authorizes the City to enter into the Lease in the form presented to the
City Council at the meeting at which this resolution is adopted, together with any
changes therein or additions thereto which are deemed advisable by the City Manager
or the Director of Finance upon consultation with the City Attorney.
SECTION 3. Attestations. The City Clerk or other appropriate City officer is
hereby authorized and directed to attest the signature of the City Manager or of such
other person or persons as may have been designated by the City Manager, and to affix
and attest the seal of the City, as may be required or appropriate in connection with the
execution and delivery of the Lease.
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SECTION 4. Other Actions. The City Manager and other officers of the City are
each hereby authorized and directed, jointly and severally, to take any and all actions
and to execute and deliver any and all agreements, documents and certificates which
they may deem necessary or advisable in order to carry out, give effect to and comply
with the terms of this Resolution and the Lease. Such actions are hereby ratified,
confirmed and approved.
SECTION 5. Effect. This Resolution shall take effect immediately upon its
passage.
PASSED, APPROVED, AND ADOPTED
ATTEST :
MARIA ~~~~E~
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
COUNTY OF SAN JUAN CAPISTRANO)
I, Maria Morris, appointed City Clerk of the City of San Juan Capistrano, do hereby
certify that the foregoing Resolution No. 18-01 -16-02 was duly adopted by the
City Council of the City of San Juan Capistrano at a Regular meeting thereof, held the
16th day of January 2018, by the following vote:
AYES : COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT : COUNCIL MEMBERS:
MARIA MORRIS, CITY CLERK
Ferguson, Reeve, Maryott and Mayor Farias
Patterson
None
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