10/22/13 Board of Public Works Minutes

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REGULAR MEETING OCTOBER 22, 2013 319 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 CITY OF SOUTH BEND ( "Lessee ") desires to obtain certain equipment (the "Equipment ") described in Equipment Schedule No. 06 to the Master Lease Agreement (collectively, the "Lease ") with SUNTRUST EQUIPMENT FINANCE & LEASING CORP., the form of which is attached hereto and incorporated herein as Exhibit "A" has been available for review by the governing body of Lessee prior to this meeting; and WHEREAS, the Equipment is essential for the Lessee to perform its governmental functions; and WHEREAS, the funds made available under the Lease will be deposited with SUNTRUST BANK (the "Escrow Agent") pursuant to an Escrow Agreement between Lessee and the Escrow Agent (the "Escrow Agreement ") and will be applied to the acquisition of the Equipment in accordance with said Escrow Agreement; and WHEREAS, Lessee has taken the necessary steps, including those relating to any applicable legal bidding requirements, to arrange for the acquisition of the Equipment; and WHEREAS, Lessee proposes to enter into the Lease with SUNTRUST EQUIPMENT FINANCE & LEASING CORP. and the Escrow Agreement with the Escrow Agent substantially in the forms presented to this meeting. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS FOR THE CITY OF SOUTH BEND, INDIANA AS FOLLOWS: Section 1. It is hereby found and determined that the terms of the Lease and the Escrow Agreement (collectively, the "Financing Documents ") in the forms presented to this meeting and incorporated in this resolution are in the best interests of Lessee for the acquisition of the Equipment. Section 2. The Financing Documents and the acquisition and financing of the Equipment under the terms and conditions as described in the Financing Documents are hereby approved. The City Controller of Lessee and any other officer of Lessee who shall have power to execute contracts on behalf of Lessee be, and each of them hereby is, authorized to execute, acknowledge and deliver the Financing Documents with any changes, insertions and omissions therein as may be approved by the officers who execute the Financing Documents, such approval to be conclusively evidenced by such execution and delivery of the Financing Documents. The Board of Public Works of the Lessee is hereby authorized to affix the official seal of Lessee to the Financing Documents and attest the same. Section 3. The proper officers of Lessee be, and each of them hereby is, authorized and directed to execute and deliver any and all papers, instruments, opinions, certificates, affidavits and other documents and to do or cause to be done any and all other acts and things necessary or proper for carrying out this resolution and the Financing Documents. Section 4. The undersigned further certifies that the above resolution has not been repealed or amended and remains in full force and effect and further certifies that the Lease and Escrow Agreement executed on behalf of Lessee are the same as presented at such meeting of the governing body of Lessee, excepting only such changes, insertions and omissions as shall have been approved by the officers who executed the same. ADOPTED at a meeting of the Board of Public Works of the City of South Bend, Indiana held on October 22, 2013 at 1308 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana 46601. BOARD OF PUBLIC WORKS s/ Gary A. Gilot s/ David P. Relos s/ Kathryn E. Roos s/ Michael C. Mecham