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REGULAR MEETING <br />APRIL 1, 1985 <br />MARYLAND NATIONAL TAX-EXEMPT FINANCE DIVISION <br />Mr. Sandy M. Jordan <br />Regional Marketing Representative <br />-Nottingham Centre. <br />502 Washington Avenue <br />Towson, Maryland 21204 <br />TRANSACTION DESCRIPTION: <br />This transaction will be structured as a "Master Lease" <br />whereby an unlimited number of schedules can be added <br />to a single Master Agreement. This agreement will be <br />in effect for a minimum of one (1) year with options <br />to renew for additional years. <br />FUNDING: <br />The Lessor will fund transactions as they arise during <br />the course of each calendar year. The minimum size <br />funding will be one hundred thousand dollars ($100,000). <br />All transactions funded will be placed on an interim <br />equipment schedule. <br />At the end of each calendar quarter, the Lessor may, at <br />its option, convert all interim equipment schedules to <br />a final equipment schedule in accordance with the Table <br />of Rates (attached). Should the Lessor not convert said <br />interim schedules at the end of the calendar quarter, <br />interim fundings will continue to be accumulated until <br />such conversion takes place. <br />The Lessor reserves the right to convert interim <br />schedules to final equipment schedules, regardless of <br />timing, in the event that accumulated interim schedules <br />should equal or exceed two hundred and fifty thousand <br />dollars ($250,000). <br />INTERIM RATE: <br />During the interim period, the Lessee will be required <br />to make interim payments, comprised of interest only, <br />at the Prime Rate plus two percent (2%). <br />The Prime Rate referenced above shall be that of Mary- <br />land National Bank. <br />The interim rate will be adjusted as fluctuations in <br />the Prime Rate occur. <br />LEASE PAYMENTS: <br />The Lessee will be required to make monthly lease pay- <br />ments, each in arrears comprised of principal and <br />interest, per the attached table of rates. <br />Final lease rates will be established once the equip- <br />ment is placed on a final equipment schedule. Said <br />rate will be a percentage of the Twenty -Five (25) <br />Revenue Bond Index as published weekly in The Bond <br />Buyer. <br />FIRST MUNICIPAL LEASING CORPORATION <br />Cheryl L. McNeill <br />857 Grant Street <br />Denver, Colorado 80203 <br />nPTTnN T <br />FMLC would deposit funds into an escrow account which would <br />be administered entirely for the benefit of the City. <br />Documentation would be specifically prepared for this <br />