07/09/07 Board of Public Works Minutes

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PUBLIC AGENDA SESSION JULY 5, 2007 A RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA BOARD OF PUBLIC WORKS APPROVING A MASTER EQUIPMENT LEASE/PURCHASE AGREEMENT NO. 1704 AND OTHER MATTERS RELATED THERETO WHEREAS, the City of South Bend, Indiana, Board of Public Works (the "Board") is the contracting body for the City of South Bend, Indiana (the "City") pursuant to Indiana Code § 36-9-6; and ' WHEREAS, the South Bend Common Council, the legislative body of the City, has approved Ordinance No. 9746-07 appropriating lease rental payments for Master Equipment Lease/Purchase Agreement No. 1704 dated June 9, 2006 with LaSalle Bank National Association ("LaSalle"), including Lease Schedule No. 1 and Lease Schedule No. 2 (collectively, the "Lease Agreement"); and WHEREAS, there have been presented to the Board a form of Lease Agreement (including separate Lease Schedules), and the Board desires to approve the Lease Agreement (including separate Lease Schedules) and to authorize the Mayor of the City (the "Mayor") and/or the City Controller (the "Controller") and/or the Assistant City Controller (the "Assistant Controller") to execute the Lease Agreement and to approve and execute any other documents deemed necessary or advisable by legal counsel to complete the transactions contemplated by the Lease Agreement; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS OF THE CITY OF SOUTH BEND, INDIANA AS FOLLOWS: 1. The Board hereby approves the Lease Agreement and the transactions contemplated thereby. The Board further ratifies any and all actions of the Mayor, the Controller, the Assistant Controller and/or any member of the Board or employee of the City related to the execution and delivery of the Master Equipment Lease/Purchase Agreement No. 1704 dated June 9, 2006 and Lease Schedule No. 1. 2. The Board hereby approves the form, terms and provisions of the Lease Agreement and separate Lease Schedules as provided in the Lease Agreement in substantially the forms presented at this meeting. The Board further authorizes the Mayor, the Controller and/or Assistant Controller to execute and/or attest said documents, with such insertions, omissions and changes as shall be approved by the Mayor, the Controller and/or the Assistant Controller, respectively, executing the same, the execution and/or attestation of such documents being conclusive evidence of such approval. The Mayor, the Controller and/or the Assistant Controller are each authorized to execute any documents deemed necessary or advisable by legal counsel to complete the transactions contemplated by the Lease Agreement, including but not limited to any and all schedules, exhibits, tax certificates and closing documents. The officers and employees of the City shall take all action deemed necessary or advisable by legal counsel to carry out, give effect to and consummate the transactions contemplated thereby. 3. The Mayor, the Controller and the Assistant City Controller are each hereby designated to act as authorized representatives of the City are each hereby designated to act as authorized representatives of the City for purposes of the administration of the Agreement and each Lease Schedule until such time as the Board shall designate any other or different authorized representatives for purposes of the Lease ' Agreement and each Lease Schedule. 4. Nothing contained in this Resolution, the Lease Agreement, any Lease Schedule, nor any other instrument shall be construed with respect to the City as incurring a pecuniary liability or charge upon the general credit of the City or against its taxing power, nor shall the breach of any agreement contained in this Resolution, the Lease Agreement, any Lease Schedule or any other instrument or document executed in connection therewith impose any pecuniary liability upon the City or any charge upon its general credit or against its taxing power, except that the rental payments under each ~3`~