HomeMy WebLinkAboutContracts & Agreements_187-2005_CCv0001.pdf LEASE WITH OPTION TO PURCHASE #05-078-AF
This LEASE WITH OPTION TO PURCHASE dated October 4, 2005 (this
"Lease") T
Is by and between MUNICIPAL CORPORATION,
("Corporation") a corporation duly organized and operating under the
laws of the State of California as lessor and CITY OF REDLANDS, a
municipal corporation duly organized and existing under the laws of the
State of California ( "Lessee") as lessee.
RECITALS :
WHEREAS, Lessee deems it essential for Lessee to acquire the property
described herein for its own public purposes; and
WHEREAS, it is intended that this Lease be treated as a tax-exempt
obligation of Lessee for federal income tax purposes; and
WHEREAS, Lessee and Corporation agree to mutually cooperate now and
hereafter, to the extent possible, in order to Sustain the intent of
this Lease and the bargain of both parties hereto.
WITNESSETH:
NOW, THEREFORE in consideration of the mutual covenants
hereinafter set forth, the parties hereto agree as follows :
SECTION 1 . Lease. Corporation hereby leases to Lessee, and
Lessee hereby leases and hires from Corporation all property (the
"Property") described in the schedule or schedules (collectively, the
"Schedule") executed by the parties concurrently herewith and hereafter
and made a part hereof. Hereinafter, reference to Corporation means
Corporation and Corporation ' s assigns for those rights, interests and
obligations that may be assigned by Corporation.
SECTION 2 . Term. The terms and conditions of this Lease shall
become effective upon the authorized execution of this Lease by the
parties hereto. The rental term of the Property ! eased hereunder
commences and terminates on the dates specified in the Schedule.
SECTION 3 . Representations, Covenants and Warranties of
Lessee . Lessee represents, covenants and warrants to Corporation that:
(a) Lessee is a municipal corporation and political subdivision,
duly organized and existing under the Constitution and laws of the
State of California with authority to enter into this Lease and to
perform all of its obligations hereunder.
(b) Lessee' s governing body has duly authcrizeci the execution and
del i7.zery of this Lease and further represents and warrants that ail
MINUTES of a regular meeting of the City Council of the City of Redlands held in the
Council Chambers, Civic Center, 35 Cajon Street, on October 4, 2005, at
3:00 P.M.
PRESENT Susan Peppler, MLayor
Gilberto Gil, Mayor Pro Tem
Pat Gilbreath, Councilmember
Gary George, Councilmember
Jon Harrison, Councilmember
ABSENT None
STAFF John Davidson, City Manager; Daniel J. McHugh, City Attorney; Lorrie Poyzer,
City Clerk; Beatrice Sanchez, Deputy City Clerk (evening, session); Michael
Reynolds, City Treasurer; Jim Bueermann, Police Chief-, Jim Drabinski, Fire
Chief, Don Gee, Redevelopment Agency Director; Tina Kundig, Finance
Director; Ronald C. Mutter, Public Works Director; Marjie Pettus,
Administrative Services Director; Gary G. Phelps, Municipal Utilities Director;
and Jeffrey L. Shaw, Community Development Director
The meeting was opened with an invocation by Councilmember Gilbreath
followed by the pledge of allegiance.
CONSENT CALENDAR
Minutes - On motion of Councilmember Peppler, seconded by Councilmember
Gil, the minutes of the regular meeting of September 20, 2005, were approved
as submitted.
Bills and Salaries - On motion of Councilmember Peppler, seconded by
Councilmember Gil, payment of salaries and bills was acknowledged.
Resolution No. 6436 - Lease-Purchase Agreement - Street Sweepers - On
motion of Councilmember Peppler, seconded by Councilmember Gil, the
City Council unanimously adopted Resolution No. 6436, a resolution of the
City Council of the City of Redlands authorizing the execution and delivery
of a lease with option to purchase with Municipal Finance Corporation for
the purchase of two street sweepers from Kelly Equipment and authorizing
certain actions in connection therewith, and authorized the Mayor to
execute, and the City Clerk to attest to, the document on behalf of the City.
Planning Commission Actions - On motion of Councilmember Peppler,
seconded by Councilmember Gil, the report of the Planning Commission
meeting held on September 27, 2005, was acknowledged as received.
October 4.2005
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