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Home My WebLink AboutContracts & Agreements_92-2000_CCv0001.pdf y Ford Motor Credit Company 1 American Road P.o,Box 1739 Dearborn,Michigan 48121-1739 Ms. Pat Gilbreath July 21,2000 Mayor City of Redlands Police Department 35 Cajon Street Suite 30 Redlands, CA 92373 Subject: Lease-Purchase Agreement Number 39672 Dear Mayor: The Lease-Purchase Agreement documents for the equipment being acquired from Miracle Ford are enclosed. Please review the following documents for accuracy and execute where indicated: • Schedule A-V, Page 1 * Delivery and Acceptance Certificate(s)- Please indicate the date the equipment was accepted by you. • Temporary Insurance Form - Please complete and execute where indicated. * 8038-GC - Please review and execute where indicated. We will forward the Original to the IRS and return a copy with the agreement for your records. Please return all documents with original signatures by August 4, 2000 to Miracle Ford. If documents cannot be returned by this date, please call 1-800-241-4199. Ovemight(Express Delivery to U.S. Regular Mail FMCC Building MD 7500, Commercial Lending, FMCC Building MD 7500 1 American Road, Ste. 2277 P. 0. Box 1739 Dearborn, MI 48126 Dearborn, MI 48121-1739 ATTN: Sheeba Cook ATTN: Sheeba Cook Included with the documents should be a check payable to Ford Motor Credit Company in the amount of$42,003.97 for the first payment. Your account number is 3967205, please refer to this number should you require any assistance. I will have the documents executed by Ford Motor Credit Company and return a copy to you. If you have any questions, please call me at(800)241-4199. cerely, Enclosures Janet DotyMunicipal Financing PLEASE NOTE: The interest rate mav be subiect to a rate increase or re wire a rate extension fee if the documents are not returned by 1013112000 ti3 INVOICE July 21, 2000 LESSEE. City of Redlands Police Department 35 Cajon Stree# s Suite 30 Redlands, CA 92373 REMIT PAYMENT TO: FORD MOTOR CREDIT COMPANY MUNICIPAL FINANCING P. O. BOX 1739 - MD7500 DEARBORN, MI 48121 PLEASE RETURN A COPY OF THIS INVOICE WITH YOUR PAYMENT ACCOUNT FIRST DESCRIPTION PAYMENT NUMBER PAYMENT AMOUNT DUE DATE 3967205 0712812000 (5) 2000 Ford Crown Victoria Police Sedans with $42,003.97 7.75% Tax, 2FAFP71W8YX206901, 2FAFP71 WXYX206902, 2FAFP71 W1 YX206903, 2FAFP71 W3YX206904, 2FAFP71 W5YX206905 PLEASE REMIT: $42,003.97 If you have any questions regarding this invoice, please call Janet Doty (800-241-4199). Form 8038-GC Information Return for Small Tax-Exempt Governmental Bond Issues, Leases, and Installment Sales (Rev.May 1999) 10, Under Internal Revenue Code section 149(e) OMB No.1545-0720 -G Information Governmental Bol Under Caution use Form'56 Department of the Treasury CL_ I 101 Internal Revenue Service Caution:Use Form 8038-G if the issue price Of the issue is$100,000 or more. ff Re orcin oritv ting Authority I Issuer's name Check box if Amended Return I" City of Redlands 1 2 Issuer's_employer Identification number � :r 1 95-6000766 Number.mber_.nd street(10''I li I box 11 malt 1 1 root delivered to street address} 35 Cajon Street Suite 30 Room/Suite City,town,or post office,state,am Be code Redlands, CA 92373 6 Report number 6 Name and title of officer or ieaw GC 2000-3967205 Moore nformation 7 T810-110fle number of officer or Bonnie Johnsonlegal re)_,esentative, Finance Dir. —74R-7CRI '111111 Description Or UDII ations (Check if--porting: a sin ie issue or on a consolidated basis 8a Issue price of obligation(s)(see instructions) 8a $76,740.88 b Issue date(single issue)or calendar year(consolidated)(see instructions) 9 Amount of the reported obligation(s)on line 8a: a Used to refund prior issue(s). b Representing a loan from the proceeds of another tax-exempt obligation(e.g., bond bank) I gh 10 If the issuer has designated any issue under section 265(b)(3)(8)(1)(111)(small issuer exception), check this box f. 11 If any obligation is in the form of a lease or installment sale, check this box L_J 12 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check this box Under penalties of perjury,I declare that I have examined this return and accompanying schedules and stal lements to the best of my knowledge and belief,they are true,correct and complete. Attest: PLEASE SIGN PLEASE or fee Povv City Clerk HERE AuQ. 1, 2000 Pat Gilbreath Magor Issuer's authorized representative Date Type or print name and title General Instructions Thus,an issuer may file a separate Form 8038- Other Forms That May Be Required Section references are to the Internal GC for each of a number of small issues and For rebating arbitrage(or paying a penalty in lieu Revenue Code Unless othenvise noted. report the remainder of small issues issued of arbitrage rebate)to the Federal government, during the calendar year on one consolidated use Form 8038-T,Arbitrage Rebate and Purpose of Form Form 8038-GC. However,a separate Form Penalty in Lieu of Arbitrage 8038-GC must be filed to give the IRS notice of activity bonds,use Form 0Rebate. For private 038,Information Form 8038-GC is used by issuers of tax- the election to pay a penalty in lieu of arbitrage exempt governmental obligations to provide the rebate. Return for Tax-Exempt Private Activity Bond IRS with the information required by section Issues. 149(e)and to monitor the requirements of When to File sections 141 through 150. To fife a separate return,file Form 8038-GC Rounding to Whole Dollars on or before the 15th day of the second calendar You may show the money items on this return Who Must File month after the close of the calendar quarter in as whole-dollar amounts. To do so,drop any Issuers of tax-exempt governmental obligations which the issue is issued. amount less than 50 cents and increase any with issue prices of less than$100,000 must file To file a consolidated return,file Form amount from 50 cents through 99 cents to the Form 8038-GC. 8038-GC on or before February 15th of the next higher dollar. Issuers of a tax-exempt governmental calendar year following the year in which the obligation with an issue price of$100,000 or issue is issued. more must file Form 8038-G,Information Return Late filing. An issuer may be granted an Definitions for Tax-Exempt Governmental Obligations- extension of time to file Form 8038-GC under Obligations.This refers to a single tax- Filing a separate return.Issuers have the Section 3 of Rev.Proc,88-10,198&1 C.B.635, exempt governmental obligation if Form 8038- option to file a separate Form 8038-GC for any if it is determined that the failure to file on time is GC is used for separate reporting or to multiple tax-exempt governmental obligation with an not due to willful neglect.Type or print at the tax-exempt governmental obligations if the form issue price of less$100,000. top of the form,"This Statement is Submitted in is u for con ed reporting. -10." Attach to Accordance with Rev, Proc.88 S sed solklat eporti An issuer of a tax-exempt bond used to Tax-exempt obligation.This is a bond, finance construction expenditures must file a the Form 8038-GC a letter briefly stating why installment Purchase agreement,or financial separate Form 8038-GC for each issue to give Form 8038-GC was not submitted to the IRS on notice to the IRS that an election was made to time. Also indicate whether the obligation in lease,on which the interest is excluded from pay a penalty in lieu of arbitrage rebate(see line question is under examination by the IRS. Co income under section 103, 12 instructions). not submit copies of any bond documents, Tax-exempt governmental obligation.A tax- Filing a consolidated return.For all tart- leases,or installment safe documents. exempt obligation that is not a private activity exempt governmental obligations with issue Where to File bond(see below)is a tax-exempt governmental prices of less than$100.000 that are not obligation.This includes a bond issued by a File Form 8038-GC with the Internal Revenue qualified volunteer fire department under section reported on a separate Form 8038-GC,an Service Center,Philadelphia,PA 19255. issuer must file a consolidated information 150(e). return including all such issues issued within Private activity bond.This includes an the calendar year. obligation issued as part of an issue of which, * More than 100/6 of the proceeds are to be used for any private business use, and Cat.No 64108E Form 8038-GC(Rev.5-99) INSURANCE FACT SHEET We require a Certificate of Insurance or Declaration Page shown in the name of the Municipality listed below. If more than one insurance company is used, indicate each & for what type coverage. Per the Agreement, we require Liability & Physical Damage on all vehicles, Liability& Property Damage on all other equipment & FORD MOTOR CREDIT COMPANY named as Loss Payee or Additional Insured. RETURN TO: Ford Motor Credit Company, P.O. Box 1739, Dearborn, MI 48121- 1739 PLEASE NOTE: FORD MOTOR CREDIT REQUIRES A TRANS NO: 3967205 MINIMUM OF $1,000,000 FOR PUBLIC LIABILITY COVERAGE. MUNI: City of Redlands ADDRESS: 35 Cajon Street Suite 30 CITY: Redlands, CA 92373 CONTACT: Julie Gilbert PHONE- (909) 798-7541 EQUIP DESC: (5)2000 Ford Crown Victoria Police Sedans with 7.75% Tax, 2FAFP71W8YX206901, 2FAFP71 WXYX206902, 2FAFP71 W1 YX206903, 2FAFP71 W3YX206904, 2FAFP71 W5YX206905 INSURANCE COMPANY: The Insurance Company of the State of Pennsylvania ADDRESS:_ 70 Pine Street CITY: N wynrk STATE: my ZIP: 10271} PHONE- 909-793-2373 CONTACT PERSON: Davis & Graeber Ins . Svc. RO-SIG -01409 - POLICY NO: 4299-2583 EXPIRATION DATE: 7/l/00 LIABILITY AMT: $10,000,000 PROPERTY DAMAGE AMT: PHYSICAL DAMAGE AMT: COMPREHENSIVE DEDUCTIBLE: COLLISION DEDUCTIBLE: INSURANCE COMPANY: ADDRESS: CITY: STATE,—ZIP: PHONE: CONTACT PERSON: POLICY NO: EXPIRATION DATE: LIABILITY AMT., PROPERTY DAMAGE AMT: PHYSICAL DAMAGE AMT.- COMPREHENSIVE DEDUCTIBLE: COLLISION DEDUCTIBLE: SELF-INSURED: IF YOU ARE SELF-INSURED FOR ANY COVERAGE PLEASE PROVIDE THE NAME OF YOUR INSURANCE POOL/FUND, NAME OF INSURANCE POOIJFUND: City 0Redlands SELF-INSURED FOR: LIABILITY: $ ,5 r 0 0 — PROPERTY: S PHYSICAL:$ CONTINUOUS COVERAGE: FROM------ TO PLEASE SIGN: 05�e"�� Pat 4":ell 1 th, Mayor Attest: Lorri zer, City Clerk LESSOR: FORD MOTOR CREDIT COMPANY P. O. Box 1739 Dearborn, MI 48121-1739 DELIVERY AND ACCEPTANCE CERTIFICATE The undersigned Lessee hereby acknowledges receipt of the Equipment described below ("Equipment") as fully installed and in good working condition, and Lessee hereby accepts the Equipment after full inspection thereof as satisfactory for all purposes of the Equipment Lease-Purchase Agreement ("Lease") executed by Lessee and Lessor_ LEASEDATE LEASE SCHEDULE A-V=DELIVERY PURCHASE PURCHASE NUMBER DATE NUMBER DATE ORDER NO. 09/20/1995 39672 07/28/2000 EQUIPMENT INFORMATION ILQUANTITY DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.) SUPPLIER 5 2000 Ford Crown Victoria Police Sedans with 7.75% Tax, Miracle Ford 2FAFP71W8YX206901, 2FAFP71WXYX206902, 2FAFP71W1YX206903, 2FAFP71W3YX206904, 2FAFP71W5YX206905 I Police Department LESSEE: City of Redlands BY: Z. A 35 Cajon Street Suite 30 Redlands, CA 92373 (Title) DATE ACCEPTED: . ` ^ ` Page SCHEDULE A-V - EQUIPMENT LEASE-PURCHASE AGREEMENT Lease No. 30872 This Equipment Schedule dated as of 07/28/2000, is being executed by Ford Motor Credit Company ("Lessor"), and City of Redlands ("Lessee"), as a supplement to, and is hereby attached to and made a part of that certain Equipment Lease- Purchase Agreement dated as of 09/20/1995 ("Lease"), between Lessor and Lessee. Lessor hereby leases to Lessee under and pursuant to the Lease, and Lessee hereby accepts and leases from Lessor under and pursuant 10the Lease, subject toand upon the terms and conditions set forth inthe Lease and upon the terms set forth below, and following items ofEquipment: QUANTITY DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.) SUPPLIER 5 2000 Ford Crown Victoria Police Sedans with 7.75% Tax, Miracle Ford EQUIPMENT LOCATION: City of Redlands Police Department 35 Cajon Street Suite 30 Redlands, CA 92373 Initial Term: 36 Months Commencement Date: 07728/2000 Periodic Rent: 2 Consecutive Annual in Advance Payments of$42,003.97 each (including interest), followed by one final payment of$42,004.05, due under this Lease-Purchase Agreement. The Periodic Rent Payment also includes any applicable sales/use tax due and payable onthe Lease Payment Dates, set forth inSchedule A-V. Page 2. EXECUTED maofthe date first herein set forth. LESSEE: City ofRedlands LESSOR: Ford Motor Credit Company Police Department By: �~' By� LOO /4 Pat Gilbreath Fra Title: Mayor Title: 6� Ot mbon7Mnager, K8uni��"iFinenue /\ttee ^ OPINION OF COUNSEL The opinions express. n the Opinion ofCounsel dated 09/28/ 895provdedtoLessovshmll apply twthe Lease asamended and Lessor may rely upon such opinion maif itwere addressed and had been delivered tnLessor oothe date hereof. Schedule A-V Page 2 Rate: 6.25 Payment Schedule Lease Number: 39672 Lease Lease Payment Payment Lease Interest Principal Concluding Number Bate Payment Portion Portion Payment 1 7 j 28 j 2000 42,003.97 0.00 42,003.97 76,740.88 2 7 j 28 j 2001 42,003.97 4,796.31 37,207.66 39,533.22 3 7 j 28 J 2002 42,004.05 2,470.83 39,533.22 1.00 TOTALS 126,011.99 7,267.14 118,744.85