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City of San Leandro <br />Meeting Date: January 4, 2021 <br />Resolution - Council <br />Agenda Section:File Number:20-594 CONSENT CALENDAR <br />Agenda Number: <br />TO:City Council <br />FROM:Fran Robustelli <br />Interim City Manager <br />BY:Debbie Pollart <br />Public Works Director <br />FINANCE REVIEW:Susan Hsieh <br />Finance Director <br />TITLE:RESOLUTION of the City of San Leandro City Council Authorizing the Execution <br />and Delivery of an Equipment Lease/Purchase Agreement with Respect to the <br />Acquisition, 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 (approval to <br />finance energy conservation and resiliency equipment to be installed at the City’s <br />Water Pollution Control Plant for $8,893,876.20) <br />WHEREAS, the City of San Leandro (the “City”), a charter city duly organized and existing <br />under the Constitution and laws of the State of California, is authorized by the laws of the State of <br />California to purchase, acquire and lease personal property for the benefit of the City and its <br />inhabitants and to enter into contracts with respect thereto; and <br />WHEREAS, the City desires to acquire and lease certain equipment constituting personal <br />property necessary for the City to perform essential governmental functions and/or functions <br />incidental thereto at the Water Pollution Control Plant in the estimated amount of $8,045,781 (the <br />“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 Banc of <br />America Public Capital Corp (or one of its affiliates), as lessor (the “Lessor”), an Escrow and <br />Account Control Agreement (the “Escrow Agreement”) with the Lessor and Bank of America, <br />National Association (or one of its affiliates), as escrow agent, and a Memorandum of <br />Understanding (the “MOU”) with the Lessor and Climatec LLC, the forms of which have been <br />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 the <br />other documentation related to the financing of the Equipment for the acquisition and leasing of <br />the Equipment on the terms and conditions therein provided; <br />WHEREAS, the information required to be obtained and disclosed by the City Council with <br />respect to the Agreement by Government Code Section 5852.1 is set forth in the staff report <br />Page 1 City of San Leandro Printed on 12/30/2020 <br />345