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City of San Leandro <br />Meeting Date: July 18, 2016 <br />Resolution - Council <br />Agenda Section:File Number:16-370 CONSENT CALENDAR <br />Agenda Number: <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:RESOLUTION Authorizing the Execution and Delivery of an Equipment <br />Lease/Purchase Agreement with Respect to the Acquisition, Purchase, <br />Financing and Leasing of Certain Equipment for the Public Benefit; <br />Authorizing the Execution and Delivery of Documents Required in Connection <br />Therewith; and Authorizing the Taking of All Other Actions Necessary to the <br />Consummation of the Transactions Contemplated by this Resolution <br />(Provides $5.5m in financing to implement energy efficiency improvements <br />under the Climatec project) <br />Whereas, the City of San Leandro (the “City”), a charter city duly organized and <br />existing under the Constitution and laws of the State of California, is authorized by the laws of <br />the State of California to purchase, acquire and lease personal property for the benefit of the <br />City and its inhabitants and to enter into contracts with respect thereto; and <br />Whereas, the City desires to purchase, acquire and lease certain equipment with a <br />cost not to exceed $5,500,000 constituting personal property necessary for the City to perform <br />essential governmental functions and/or functions incidental thereto, such as LED lighting, <br />HVAC and other energy and water efficiency equipment to be installed at various locations in <br />the City (the “Equipment”); and <br />Whereas, in order to finance the acquisition and installation of the Equipment, the City <br />proposes to enter into an Equipment Lease/Purchase Agreement (the “Agreement”) with Bank <br />of America, National Association, and an Escrow and Account Control Agreement (the <br />“Escrow Agreement”) with Bank of America, National Association, as escrow agent, the forms <br />of which have been presented to this City Council at this meeting; and <br />Whereas, this City Council deems it for the benefit of the City and for the efficient and <br />effective administration thereof to enter into the Agreement and the Escrow Agreement, and <br />the other documentation related to the financing of the Equipment for the purchase, <br />acquisition and leasing of the Equipment on the terms and conditions therein provided. <br />Page 1 City of San Leandro Printed on 7/13/2016 <br />211