RE 2000-11-14.1A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 20001114.1
A RESOLUTION OF THE CITY OF COPPELL, TEXAS,
APPROVING THE ACQUISITION AND MUNICIPAL LEASE/PURCHASE
AGREEMENT WITH PIERCE MANUFACTURING; AUTHORIZING THE
DESIGNATED REPRESENTATIVE TO EXECUTE SUCH LEASE AND
ANY OTHER RELATED DOCUMENTS; APPROVING AN AGREEMENT
WITH PIERCE MANUFACTURING, INC.; DESIGNATING SUCH
LEASING SCHEDULE A "QUALIFIED TAX EXEMPT OBLIGATION"
AND INCLUDED WITHIN THE CALENDAR YEAR REVENUE
PROCEEDS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Coppell is a political subdivision of the State which is located in
the State of Texas (the "State") and is duly organized and existing pursuant to the constitution and
laws of the State as a home rule municipality; and
WHEREAS, pursuant to applicable law, the governing body of the said city is authorized to
acquire, dispose of and encumber real and personal property, including, without limitation, rights
and interests in property, leases, personal property necessary to aid and discharge the duties,
obligations, and operations of the City; and
WHEREAS, the Governing Body hereby finds and determines that the execution of a seven
(7) year lease agreements ("Equipment Leases") for fire apparatus in the principal amount not
exceeding One Million, Four Hundred Fifty Two Thousand, Four Hundred Forty Dollars
($1,452,440.00) for the purpose of acquiring the property generally described below ("Property"),
and to be described more specifically in the Equipment Leases, is appropriate and necessary to the
functions and operations of the City; and
WHEREAS, Banc One Leasing Corporation is expected to provide, through Pierce
Manufacturing, financing and financial commitments under the Equipment Leases; and
WHEREAS, the City is purchasing the equipment under an interlocal contract for
cooperative purchasing administrated by the Houston-Galveston Area Council of Governments
(HGAC), a regional planning commission established under Chapter 391 of the TEXAS LOCAL
GOVERNMENT CODE and by agreement pursuant to Section 271 of the TEXAS LocAL GOVERNMENT
CODE, which is an exception to the bid requirements contained in Section 252.022 of the TEXAS
LocAL GOVERNMENT CODE;
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS:
SECTION 1. That the City agrees to award and purchase the fire apparatus equipment as
provided on the attached Schedule A, which is incorporated herein by reference as if set forth in full,
with Pierce Manufacturing, Inc. subject to the Equipment Leases and finance documents provided
therewith.
SECTION 2. That Jim Witt, City Manager, ("Authorized Representative") acting on
behalf of the City is hereby authorized to negotiate, enter into, execute, and deliver one or more
Equipment Leases in substantially the form set forth in the document presented to the City of
Coppell, which document is available for public inspection at the City. The Authorized
Representative acting on behalf of the City is hereby authorized to negotiate, enter into, execute, and
deliver such other documents relating to the Equipment Lease (including, but not limited to, escrow
agreements) as the Authorized Representative deems necessary and appropriate. All other related
contracts and agreements necessary and incidental to the Equipment Leases are hereby authorized
upon approval of the Authorized Representative and City Attorney.
SECTION 3. That by a written instrument signed by the Authorized Representative, said
Authorized Representative may designate specifically identified officers or employees of the City to
execute and deliver agreements and documents relating to the Equipment Leases on behalf of the
City as authorized herein.
SECTION 4. That the aggregate original principal amount of the Equipment Leases shall
not exceed the Principal Amount and shall bear interest as set forth in the Equipment Leases, and
the Equipment Leases shall contain such options to purchase by the City as set forth therein.
SECTION 5. That the City's obligations under the Equipment Leases shall be subject to
annual appropriation or renewal by the City of Coppell as set forth in each Equipment Lease, and
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the City's obligations under the Equipment Leases shall not constitute a general obligation of the
City or indebtedness under the Constitution or laws of the State; and, shall be subject to the
appropriate non-appropriation clause.
SECTION6. That the budget for the fiscal year 2000-2001 shall be amended to
appropriate, as additional revenue, the proceeds of the Lease Purchase Agreement in the amount of
One Million, Two Hundred Fifty Thousand Dollars ($1,250,000.00) to be spent per the
Lease/Purchase Agreement.
SECTION 7. That this Resolution shall take effect immediately from and after its passage
as the law and charter in such cases provide.
DULY PASSED by the City Council of the City of Coppell, Texas, this the 14th day of
November, 2000.
APPRO D: ~~
CANDY SHEEHAN, 'MAYOR "~"
ATTEST:
LIBBY BALL, CITY SECRETARY
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Coppell Fire Department ApparatUs 2001 Lease
Total Equipment Cost: $1,433,440.00
Financing Discounts: $51,075.00
Total: $1,382,365.00
Divided By 3 Units: $460,788.33
Trade In: $200,000.00
Sub Total: $1,182,365.00
Divided By 3 Units: $394,121.66
Down Payment: $150,000.00
Amount Financed: $1,032,365.00
Payments X 7 $133,873,64
Lease Rate: 5.80%
Residual Payment: $415,026.45
Equipment Summary: This package includes 3 fully equipped Pumper / Engines and
allied equipment. The highlights of the package include the
following.
Mobile and Portable radios
Defibrillators
Hydraulic rescue tools
Hose / Nozzles
Compressed Air Foam equipped
Class A foam supply
Training for Fire Dept. personnel
Training for Fleet Services personnel