JPMORGAN CHASE BANK, N.A.
Mail Code OH1-1085
1111 Polaris Parkway, Suite 4N
Columbus, OH 43240-2050
October 18, 2022
Enclosed please find the documents necessary to complete your transaction with JPMorgan Chase Bank, N.A. (the “Bank”). These documents have been completed as of October 18, 2022, and reflect the pricing, terms and conditions of the transaction as of this date.
Note that the signer’s title must match the signer’s title shown on the Incumbency Certificate. Lease Schedule – Review, sign and indicate title.
Schedule A-1 – Review, sign and indicate title.
Payment Schedule – In draft.
Prepayment Schedule Addendum – Review, sign and indicate title. Resolution and Declaration of Official Intent- Your governing board will need to review and approve the financing and the Authorized Signer(s). Please have the Secretary/Clerk of the board certify that the board has met and approved the financing, and that the titles of the Authorized Signer(s) are correct.
Certificate of Incumbency – The individuals that are duly elected or appointed officers of the Lessee should Print Name and Title and provide signatures. The Secretary/Clerk of the Lessee should Print Name, Title, Date and sign. If the Secretary/Clerk is also authorized to execute the Lease-Purchase Agreement, a second officer must Print Name, Title and sign. Opinion of Counsel – Please have your counsel review the documents as soon as possible, and prepare an Opinion of Counsel letter on their letterhead addressed to JPMORGAN CHASE BANK, N.A. A sample of an Opinion of Counsel letter that will satisfy JPMORGAN CHASE BANK, N.A. is enclosed.
Lease Schedule Addendum (Self Insurance) – Review, sign and indicate title Vehicle Schedule Addendum - Review, sign and indicate title. Proceeds Disbursement Authorization – Review, sign and date, and provide the signer’s title where indicated.
IRS Form 8038-G – Enclosed is the 8038-G form (Information Return for Tax-Exempt Governmental Bonds) with instructions that is required for IRS reporting of tax-exempt financing.
The 8038-G form is used when the issue price is greater than or equal to $100,000. Please refer to the enclosed instructions when completing the information on the form and have an Authorized Signer sign and date at the bottom.
Auto Debit Enrollment – Complete the bank account information and sign.
We would like to thank you for choosing JPMorgan Chase Bank, N.A.to assist with your equipment financing. We appreciate your business and welcome the opportunity to work with you.
If you have any questions, concerns, or if I can be of assistance, please call me. I can be reached at 312- 732-6444 from 9:00 a.m. through 4:00 p.m. ET Monday through Friday. I’ll be happy to help you.
Sincerely,
Lourdes Roman
Documentation Specialist
151211-V1
LEASE SCHEDULE
Dated as of: November 10, 2022
Lease No.: 1000149192
This Lease Schedule, together with its Payment Schedule, is attached and made a part of the Master Lease-Purchase Agreement described below ("Master Lease") between the Lessee and Lessor named below. All terms and conditions of the Master Lease are incorporated herein by reference. Unless otherwise defined herein, capitalized terms defined in the Master Lease will have the same meaning when used herein.
Master Lease-Purchase Agreement dated August 15, 2016.
A. EQUIPMENT DESCRIBED: The Equipment includes all of the property described on Schedule A-1 attached hereto and madea part hereof.
B. EQUIPMENT LOCATION: See Attached Schedule A-1
C. ACCEPTANCE OF EQUIPMENT: [RESERVED]
D. ESSENTIAL USE; CURRENT INTENT OF LESSEE: Lessee represents and agrees that the use of the Equipment is essential to Lessee's proper, efficient and economic functioning or to the services that Lessee provides to its citizens and the Equipment will be used by Lessee only for the purpose of performing its governmental or proprietary functions consistent with the permissible scope of its authority. Lessee currently intends for the full Lease Term: to use the Equipment; to continue this Lease; and to make Rental Payments if funds are appropriated in each fiscal year by its governing body.
E. RENTAL PAYMENTS; LEASE TERM: The Rental Payments to be paid by Lessee to Lessor, the interest rate at which the interest portion of the Rental Payments is calculated, the Taxable Rate, the commencement date and the Lease Term of this Lease Schedule are each set forth on the Payment Schedule attached to this Lease Schedule.
F. RE-AFFIRMATION OF THE MASTER LEASE: Lessee hereby re-affirms all of its representations, warranties and obligations under the Master Lease (including, without limitation, its obligation to pay all Rental Payments, its disclaimers in Section 7 thereof and its representations in Sections 6.1 and 16 thereof).
G. GOVERNMENT REGULATION. ANTI-CORRUPTION.
(a) Representations and Warranties Regarding Anti-Corruption Laws and Sanctions. Lessee has implemented and maintains in effect policies and procedures designed to ensure compliance by Lessee and its officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and Lessee and its officers and employees and to the knowledge of Lessee its agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (a) Lessee or to the knowledge of Lessee any of its respective officers or employees, or (b) to the knowledge of Lessee, any agent of Lessee that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. No advance, letter of credit, use of proceeds or other transaction contemplated by this Lease will violate Anti-Corruption Laws or applicable Sanctions.
(b) Compliance with Anti-Corruption Laws and Sanctions. Lessee shall maintain in effect and enforce policies and procedures designed to ensure compliance by Lessee and its officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.
(c) Use of Proceeds. Lessee shall not use, or permit any proceeds of the Lease to be used, directly or indirectly, by Lessee or its officers, employees and agents: (1) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws; (2) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country; or (3) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 151211-V1
(d) Definitions. For the purposes of this Section G, the following terms shall have the following meanings:
"Anti-Corruption Laws" means all laws, rules, and regulations of any jurisdiction applicable to the Lessee or its subsidiaries from time to time concerning or relating to bribery or corruption. "Person" means any individual, corporation, partnership, limited liability company, joint venture, joint stock association, association, bank, business trust, trust, unincorporated organization, any foreign governmental authority, the United States of America, any state of the United States and any political subdivision of any of the foregoing or any other form of entity. "Sanctions" means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State. "Sanctioned Country" means, at any time, a country, region or territory which is the subject or target of any Sanctions (as at the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria). "Sanctioned Person" means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S.
Department of State, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person controlled by any such Person.
H. BANK QUALIFIED: LESSEE CERTIFIES (a) THAT IT HAS DESIGNATED THIS LEASE AS A "QUALIFIED TAX- EXEMPT OBLIGATION" FOR THE PURPOSES OF AND WITHIN THE MEANING OF SECTION 265(b)(3) OF THE CODE, (b) THAT IT HAS NOT DESIGNATED MORE THAN $10,000,000 OF ITS OBLIGATIONS AS QUALIFIED TAX- EXEMPT OBLIGATIONS IN ACCORDANCE WITH SECTION 265(b)(3) OF THE CODE FOR THE CURRENT CALENDAR YEAR AND (c) THAT IT REASONABLY ANTICIPATES THAT THE TOTAL AMOUNT OF SECTION 265
TAX-EXEMPT OBLIGATIONS TO BE ISSUED DURING THE CURRENT CALENDAR YEAR BY LESSEE, OR BY AN
ENTITY CONTROLLED BY LESSEE OR BY ANOTHER ENTITY THE PROCEEDS OF WHICH ARE LOANED TO OR ALLOCATED TO LESSEE FOR PURPOSES OF SECTION 265(b) OF THE CODE WILL NOT EXCEED $10,000,000. "Section 265 Tax-Exempt Obligations" are obligations the interest on which is excludable from gross income of the owners thereof under Section 103 of the Code, except for private activity bonds other than qualified 501(c)(3) bonds, both as defined in Section 141 of the Code.
(The next page is the signature page)
151211-V1
LEASE SCHEDULE
SIGNATURE PAGE
IN WITNESS WHEREOF, the parties hereto have executed this Addendum as of the date of the Schedule first referenced above.
CITY OF CHULA VISTA JPMORGAN CHASE BANK, N.A.
(Lessee) (Lessor)
By: By:
Title: Title: Authorized Officer
151211-V1
SCHEDULE A-1
(Equipment List)
1 of 2
Expected Equipment Purchase Price $3,986,966.63
Net Amount Financed $3,986,966.63
Equipment Location: 276 4 th Avenue, Chula Vista, CA 91910 Equipment Description: (2) Pierce Arrow XT Pierce’s Ultimate Configuration (PUC) pumper & (1) Pierce Arrow XT 107’ Tractor Drawn Aerial (TDA)
TOGETHER WITH ALL ATTACHMENTS, ADDITIONS, ACCESSIONS, PARTS, REPAIRS, IMPROVEMENTS, REPLACEMENTS AND SUBSTITUTIONS THERETO.
This Schedule A-1 is attached to the Lease Schedule 1000149192 or a Receipt Certificate/Payment Request relating to the Lease Schedule.
(The next page is the signature page)
151211-V1
SCHEDULE A-1
(Equipment List)
2 of 2
IN WITNESS WHEREOF, the parties hereto have executed this Schedule A-1 as of the date first written above.
CITY OF CHULA VISTA JPMORGAN CHASE BANK, N.A
(Lessee) (Lessor)
By: By:
Title: Title: Authorized Officer
151211-V1
Payment Schedule
This Payment Schedule is attached and made a part of the Lease Schedule identified below which is part of the Master Lease-Purchase Agreement identified therein, all of which are between the Lessee and Lessor named below.
Lease Schedule No. 1000149192
Lease Schedule Dated: November 10, 2022
Accrual Date November 10, 2022
Amount Financed $3,986,966.63
Interest Rate 3.8050% per annum
Taxable Rate 4.8250% per annum
Rent Rent Rent Interest Principal Principal Termination Number Date Payment Portion Portion Balance Value 1 5/1/2024 $273,263.75 $223,763.52 $49,500.23 $3,937,466.40 $3,937,466.40 2 11/1/2024 $273,263.75 $74,910.30 $198,353.45 $3,739,112.95 $3,739,112.95 3 5/1/2025 $273,263.75 $71,136.62 $202,127.13 $3,536,985.82 $3,536,985.82 4 11/1/2025 $273,263.75 $67,291.15 $205,972.60 $3,331,013.22 $3,331,013.22 5 5/1/2026 $273,263.75 $63,372.52 $209,891.23 $3,121,121.99 $3,121,121.99 6 11/1/2026 $273,263.75 $59,379.34 $213,884.41 $2,907,237.58 $2,907,237.58 7 5/1/2027 $273,263.75 $55,310.19 $217,953.56 $2,689,284.02 $2,689,284.02 8 11/1/2027 $273,263.75 $51,163.63 $222,100.12 $2,467,183.90 $2,467,183.90 9 5/1/2028 $273,263.75 $46,938.17 $226,325.58 $2,240,858.32 $2,240,858.32 10 11/1/2028 $273,263.75 $42,632.33 $230,631.42 $2,010,226.90 $2,010,226.90 11 5/1/2029 $273,263.75 $38,244.56 $235,019.19 $1,775,207.71 $1,775,207.71 12 11/1/2029 $273,263.75 $33,773.32 $239,490.43 $1,535,717.28 $1,535,717.28 13 5/1/2030 $273,263.75 $29,217.02 $244,046.73 $1,291,670.55 $1,291,670.55 14 11/1/2030 $273,263.75 $24,574.03 $248,689.72 $1,042,980.83 $1,042,980.83 15 5/1/2031 $273,263.75 $19,842.71 $253,421.04 $789,559.79 $789,559.79 16 11/1/2031 $273,263.75 $15,021.37 $258,242.38 $531,317.41 $531,317.41 17 5/1/20232 $273,263.75 $10,108.31 $263,155.44 $268,161.97 $268,161.97 18 11/1/2032 $273,263.75 $5,101.78 $268,161.97 $0.00 $0.00
$4,918,747.50 $931,780.87 $3,986,966.63
(The next page is the signature page)
151211-V1
Payment Schedule
Signature page
IN WITNESS WHEREOF, the parties hereto have executed this Payment Schedule as of the date first referenced above.
CITY OF CHULA VISTA JPMORGAN CHASE BANK, N.A.
(Lessee) (Lessor)
By: By:
Title: Title: Authorized Officer
160304-V2
PREPAYMENT SCHEDULE ADDENDUM
(Break Funding Premium/Lockout)
Dated as of: November 10, 2022
Lease Schedule No.: 1000149192
Lessee: CITY OF CHULA VISTA
Reference is made to the above Lease Schedule ("Schedule") and to the Master Lease-Purchase Agreement ("Master Lease") identified in the Schedule, which are by and between JPMORGAN CHASE BANK, N.A. ("Lessor") and the above lessee ("Lessee"). As used herein: "Lease" shall mean the Schedule and the Master Lease, but only to the extent that the Master Lease relates to the Schedule. This Schedule Addendum amends and supplements the terms and conditions of the Lease. Unless otherwise defined herein, capitalized terms defined in the Lease shall have the same meaning when used herein. Solely for purposes of the Schedule, Lessor and Lessee agree as follows:
1. Notwithstanding anything to the contrary herein or the Lease, Lessee and Lessor agree that Lessee shall not exercise its prepayment or early purchase rights under the Lease (including, without limitation, Section 15 of the Master Lease as it relates to the Schedule) or this Addendum prior to the end of the Lock-Out Period specified below.
Lock-Out Period: the first 12 months of the Lease Term of the Schedule
2. Notwithstanding anything to the contrary in the Lease (including, without limitation, Section 15 of the Master Lease as it relates to the Schedule), Lessee and Lessor agree that so long as no Event of Default has occurred and continues under the Lease and so long as Lessee gives Lessor at least 30 days prior written notice (the "Notice Period"), Lessee may elect to prepay its obligations under the Schedule by paying to Lessor on the Rent Payment due date (a "Prepayment Date") following the Notice Period the total of the following (the "Prepayment Amount"): (a) all accrued Rent Payments, interest, taxes, late charges and other amounts then due and payable under the Lease; plus (b) the remaining principal balance payable by Lessee under the Schedule as of said Prepayment Date.
3. In addition to the prepayment amounts required by paragraph 1 above, a Breakfunding Charge shall be due and payable if (i) exceeds (ii) where (i) equals the interest portion of each of the Rent Payments which would have been paid if such prepayment had not occurred calculated at the interest rate swap including any forward rate swap, if any, which Lessor shall be deemed to have entered into on the earlier of (a) the date the Lease was originally funded or (b) the date a rate lock letter was signed, if any, and (ii) equals the interest portion of each of the Rent Payments which would have been paid if such prepayment had not occurred calculated at the interest rate swap which Lessor shall be deemed to have entered into on the date of prepayment (the "Replacement Swap").
4. The prepayment or early purchase option rights granted herein shall control in the event of any conflict between the provisions of this Addendum and the Master Lease as it relates to the Schedule. Except as expressly amended or supplemented by this Addendum and other instruments signed by Lessor and Lessee, the Lease remains unchanged and in full force and effect.
(The next page is the signature page)
160304-V2
PREPAYMENT SCHEDULE ADDENDUM
SIGNATURE PAGE
IN WITNESS WHEREOF, the parties hereto have executed this Addendum as of the date first written above.
CITY OF CHULA VISTA JPMORGAN CHASE BANK, N.A.
(Lessee) (Lessor)
By: By:
Title: Title: Authorized Officer
160414-V2
RESOLUTION AND DECLARATION OF OFFICIAL INTENT
Lessee: CITY OF CHULA VISTA
Principal Amount Expected To Be Financed: $3,986,966.63
WHEREAS, the above Lessee is a political subdivision of the State in which Lessee is located (the "State") and is duly organized and existing pursuant to the constitution and laws of the State.
WHEREAS, pursuant to applicable law, the governing body of the Lessee ("Governing Body") is authorized to acquire, dispose of and encumber real and personal property, including, without limitation, rights and interests in property, leases and easements necessary to the functions or operations of the Lessee.
WHEREAS, the Governing Body hereby finds and determines that the execution of one or more lease-purchase agreements ("Equipment Leases") in the principal amount not exceeding the amount stated above ("Principal Amount") for the purpose of acquiring the property generally described below ("Property") and to be described more specifically in the Equipment Leases is appropriate and necessary to the functions and operations of the Lessee.
Brief Description Of Property: See Attached Schedule A-1
WHEREAS, JPMorgan Chase Bank, N.A. ("Lessor") is expected to act as the lessor under the Equipment Leases.
WHEREAS, the Lessee may pay certain capital expenditures in connection with the Property prior to its receipt of proceeds of the Equipment Leases ("Lease Purchase Proceeds") for such expenditures and such expenditures are not expected to exceed the Principal Amount.
WHEREAS, the U.S. Treasury Department regulations do not allow the proceeds of a tax-exempt borrowing to be spent on working capital and the Lessee shall hereby declare its official intent to be reimbursed for any capital expenditures for Property from the Lease Purchase Proceeds.
NOW, THEREFORE, Be It Resolved by the Governing Body of the Lessee:
SECTION 1. Either one of the (insert title) _______________________ OR the (insert title) _____________________________ (each an "Authorized Representative") acting on behalf of the Lessee is hereby authorized to negotiate, enter into, execute, and deliver one or more Equipment Leases in substantially the form set forth in the document presently before the Governing Body, which document is available for public inspection at the office of the Lessee. Each Authorized Representative acting on behalf of the Lessee is hereby authorized to negotiate, enter into, execute, and deliver such other documents relating to the Equipment Lease (including, but not limited to, escrow agreements) as the Authorized Representative deems necessary and appropriate. All other related contracts and agreements necessary and incidental to the Equipment Leases are hereby authorized.
SECTION 2. By a written instrument signed by any Authorized Representative, said Authorized Representative may designate specifically identified officers or employees of the Lessee to execute and deliver agreements and documents relating to the Equipment Leases on behalf of the Lessee.
SECTION 3. The aggregate original principal amount of the Equipment Leases shall not exceed the Principal Amount and shall bear interest as set forth in the Equipment Leases and the Equipment Leases shall contain such options to purchase by the Lessee as set forth therein.
SECTION 4. The Lessee's obligations under the Equipment Leases shall be subject to annual appropriation or renewal by the Governing Body as set forth in each Equipment Lease and the Lessee’s obligations under the Equipment Leases shall not constitute a general obligations of the Lessee or indebtedness under the Constitution or laws of the State.
SECTION 5. The Governing Body of Lessee anticipates that the Lessee may pay certain capital expenditures in connection with the Property prior to the receipt of the Lease Purchase Proceeds for the Property. The Governing Body of Lessee hereby declares the Lessee’s official intent to use the Lease Purchase Proceeds to reimburse itself for Property expenditures. This section of the Resolution is adopted by the Governing Body of Lessee for the purpose of establishing compliance with the requirements of Section 1.150-2 of Treasury Regulations. This section of the Resolution does not bind the Lessee to make any expenditure, incur any indebtedness, or proceed with the purchase of the Property. 160414-V2
SECTION 6. As to each Equipment Lease, Lessee hereby designates each Equipment Lease as a "qualified tax-exempt obligation" for the purposes of and within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended ("Code") and Lessee reasonably anticipates that the total amount of Section 265 Tax-Exempt Obligations to be issued during the current calendar year by Lessee, or by an entity controlled by Lessee or by another entity the proceeds of which are loaned to or allocated to Lessee for purposes of Section 265(b) of the Code will not exceed $10,000,000. "Section 265 Tax-Exempt Obligations" are obligations the interest on which is excludable from gross income of the owners thereof under Section 103 of the Code, except for private activity bonds other than qualified 501(c)(3) bonds, both as defined in Section 141 of the Code.
SECTION 7. This Resolution shall take effect immediately upon its adoption and approval.
ADOPTED AND APPROVED on this __________________________, 20___.
The undersigned Secretary/Clerk of the above-named Lessee hereby certifies and attests that the undersigned has access to the official records of the Governing Body of the Lessee, that the foregoing resolutions were duly adopted by said Governing Body of the Lessee at a meeting of said Governing Body and that such resolutions have not been amended or altered and are in full force and effect on the date stated below.
Signature of Secretary/Clerk of Lessee
Print Name:
Official Title:
Date:
151211-V1
CERTIFICATE OF INCUMBENCY
Dated: November 10, 2022
Lease Schedule No: 1000149192
Lessee: CITY OF CHULA VISTA
I, the undersigned Secretary/Clerk identified below, do hereby certify that I am the duly elected or appointed and acting Secretary/Clerk of the above Lessee (the "Lessee"), a political subdivision duly organized and existing under the laws of the State where Lessee is located, that I have the title stated below, and that, as of the date hereof, the individuals named below are the duly elected or appointed officers of the Lessee holding the offices set forth opposite their respective names. [NOTE: Use same titles as Authorized Representatives stated in Resolutions.] Name Title Signature
Name Title Signature
IN WITNESS WHEREOF, I have duly executed this certificate and affixed the seal of such Lessee as of the date set forth below.
Signature of Secretary/Clerk of Lessee
Print Name:
Official Title:
Date:
NOTE: In case the Secretary/Clerk is also the authorized representative that executes a Lease-Purchase Agreement / documents by the above incumbency, this certificate must also be signed by a second officer.
Print Name: Signature:
Title:
151211-V1
FORM OF OPINION OF COUNSEL
(To Be Typed on Attorney’s Letterhead Stationery)
Date: November 10, 2022
Lessee: CITY OF CHULA VISTA
Lessor: JPMORGAN CHASE BANK, N.A.
Re: Lease Schedule No. 1000149192 dated November 10, 2022 together with its Master Lease-Purchase Agreement dated as of August 15, 2016 by and between the above-named Lessee and the above-named Lessor.
Sir/Madam:
I have acted as counsel to Lessee with respect to the Lease Schedule and its Addenda, the Master Lease-Purchase Agreement and its Addenda, and all other agreements described above or related thereto (collectively, the "Agreements") and various related matters, and in this capacity have reviewed a duplicate original or certified copy of the Agreements and such other documents as I have deemed necessary for the purposes of this opinion.
Based upon the examination of such documents, it is my opinion that:
1. Lessee is a political subdivision of the State of CA (the "State") duly organized, existing and operating under the Constitution and laws of the State.
2. Lessee is authorized and has power under State law to enter into all of the Agreements, and to carry out its obligations thereunder and the transactions contemplated thereby.
3. The Agreements and all other documents related thereto have been duly authorized, approved and executed by and on behalf of Lessee, and each of the Agreements is a valid and binding contract of Lessee enforceable in accordance with its terms, except to the extent limited by State and Federal laws affecting creditor’s remedies and by bankruptcy, reorganization or other laws of general application relating to or affecting the enforcement of creditors' rights.
4. The authorization, approval and execution of the Agreements and all other proceedings of Lessee relating to the transactions contemplated thereby have been performed in accordance with all applicable Local, State and Federal laws (including open meeting laws and public bidding and property acquisition laws).
5. To the best of my knowledge, there is no litigation or proceeding pending before any court, administrative agency or governmental body, that challenges: the organization or existence of Lessee; the authority of its officers; the proper authorization, approval and execution of any of the Agreements or any documents relating thereto; the appropriation of monies to make payments under the Agreements for the current fiscal year; or the ability of Lessee otherwise to perform its obligations under the Agreements and the transactions contemplated thereby.
6. Lessee is a political subdivision of the State as referred to in Section 103 of the Internal Revenue Code of 1986, as amended, and the related regulations and rulings thereunder.
Lessor, its Assignee and any of their assigns may rely upon this opinion.
Very truly yours,
Attorney
160601-V2
LEASE SCHEDULE ADDENDUM
(Self Insurance)
Lessee: CITY OF CHULA VISTA
Lease Schedule No: 1000149192
Reference is made to the above Lease Schedule as amended ("Schedule") and to the Master Lease-Purchase Agreement identified therein as amended ("Master Lease"), both of which are by and between JPMORGAN CHASE BANK, N.A. ("Lessor") and the above lessee ("Lessee"). In this Addendum: "Lease" means the Schedule and the Master Lease to the extent that it relates to the Schedule; and "Equipment" means the property described in the Schedule. This Addendum amends and modifies the terms and conditions of the Lease and is hereby made a part of the Lease. Unless otherwise defined herein, capitalized terms defined in the Lease shall have the same meaning when used herein.
NOW, THEREFORE, as part of the valuable consideration to induce the execution of the Lease, Lessor and Lessee hereby agree to amend the Lease as follows:
1. CASUALTY LOSS. Notwithstanding anything to the contrary in Section 14 of the Master Lease, Lessor agrees that Lessee may self-insure against risk of casualty loss of or physical damage to the Equipment; provided, that (i) proceeds of such insurance are payable to Lessor as lender loss payee and (ii) upon written notice from Lessor to Lessee, Lessee agrees to secure and maintain commercial insurance against such risks to the Equipment as otherwise required by the Master Lease if an event of default has occurred and is continuing under the Master Lease.
2. THIRD PARTY LIABILITY. Notwithstanding anything to the contrary in Section 14 of the Master Lease, Lessor agrees that Lessee may self-insure against risk of injuries to persons and damage to property of others relating in any way to any Equipment; provided, that upon written notice from Lessor to Lessee, Lessee agrees to secure and maintain commercial insurance against such risks as otherwise required by the Master Lease if an event of default has occurred and is continuing under the Master Lease.
3. COMPLIANCE WITH LAW; ACTUARIALLY SOUND BASIS. Lessee agrees that its self insurance arrangements as described herein shall comply with applicable State law related thereto or, if there is no State law applicable to such self insurance arrangements, then Lessee's self insurance arrangements shall be maintained on an actuarially sound basis.
4. GENERAL. Except as expressly amended by this Addendum and other modifications signed by Lessor and Lessee, the Lease remains unchanged and in full force and effect.
(The next page is the signature page)
LEASE SCHEDULE ADDENDUM
SIGNATURE PAGE
IN WITNESS WHEREOF, the parties hereto have executed this Addendum as of the date of the Schedule first referenced above.
CITY OF CHULA VISTA JPMORGAN CHASE BANK, N.A.
(Lessee) (Lessor)
By: By:
Title: Title: Authorized Officer
151211-V1
VEHICLE SCHEDULE ADDENDUM
Dated As of: November 10, 2022
Lease Schedule No: 1000149192
Lessee: CITY OF CHULA VISTA
Reference is made to the above Lease Schedule ("Schedule") to the Master Lease-Purchase Agreement identified in the Schedule ("Master Lease") by and between JPMORGAN CHASE BANK, N.A. ("Lessor") and the above lessee ("Lessee"). This Addendum amends and modifies the terms and conditions of the Schedule and is hereby made a part of the Schedule. Unless otherwise defined herein, capitalized terms defined in the Master Lease shall have the same meaning when used herein.
NOW, THEREFORE, as part of the valuable consideration to induce the execution of the Schedule, Lessor and Lessee hereby agree to amend the Schedule as follows:
1. In the event that any unit of Equipment covered by the Schedule is a vehicle or trailer under applicable State law, then the following provisions shall also apply to the Schedule:
(a) each manufacturer's statement of origin and certificate of title shall state that Lessor has the first and sole lien on or security interest in such unit of Equipment;
(b) the public liability insurance required by the terms of clauses (b) of Section 14.1 of the Master Lease shall be in an amount not less than $1,000,000.00 combined single limit per unit per occurrence. Physical damage should not be less than the replacement cost coverage for the equipment identified on the Schedule A-1;
(c) Lessee shall furnish and permit only duly licensed, trained, safe and qualified drivers to operate any such unit of Equipment, and such drivers shall be agents of Lessee and shall not be agents of Lessor; and
(d) Lessee shall cause each such unit of Equipment to be duly registered and licensed as required by applicable State law with Lessor noted as lienholder, listed at address below and Lessee as owner.
Lessor’s Address:
JPMORGAN CHASE BANK, N.A.
PO Box 6026
Chicago, IL 60680
2. Except as expressly amended by this Addendum and other modifications signed by Lessor, the Schedule remains unchanged and in full force and effect.
(The next page is the signature page)
151211-V1
VEHICLE SCHEDULE ADDENDUM
SIGNATURE PAGE
IN WITNESS WHEREOF, the parties hereto have executed this Addendum as of the date first referenced above.
CITY OF CHULA VISTA JPMORGAN CHASE BANK, N.A.
(Lessee) (Lessor)
By: By:
Title: Title: Authorized Officer
151211-V1
PROCEEDS DISBURSEMENT AUTHORIZATION
JPMORGAN CHASE BANK, N.A.
1111 Polaris Parkway, Suite N4 (OH1-1085)
Columbus, Ohio 43240
Date: November 10, 2022
Re: Disbursements Of Proceeds Under The MASTER LEASE PURCHASE AGREEMENT Referred To Below
Reference is made to that certain Master Lease Purchase Agreement dated August 15, 2016 between CITY OF CHULA VISTA, ("Lessee") and JPMORGAN CHASE BANK, N.A. (the "Lessor")
I hereby instruct you and authorize you to disburse $3,986,966.63 to the account number(s) as specified below:
Payee #1
Wire:
Name of Bank: CITIZENS BUSINESS BANK
ABA No.: 122234149
Account Number: 171101999
Account Name: SOUTH COAST FIRE EQUIPMENT, INC.
Amount: $3,797,111.08
Re: PAYMENT TO VENDOR FOR (2) PUMPERS & (1) TRACTOR AERIAL
Payee #2
Wire:
Name of Bank: BANK OF AMERICA, N.A.
ABA No.: 026009593
Account Number: 0232580202
Account Name: CITY OF CHULA VISTA
Amount: $189,855.55
Re: PAYMENT TO CLIENT- 5% EXPENSES FOR ORDER
By signing below, Lessee authorizes Lessor to issue checks or direct fund transfers to the payees, in the amounts, and per the instructions (if applicable) set forth above. Lessee also acknowledges that it may be responsible for paying other fees directly to third parties, such as Lessor's counsel, and making other disbursements in connection with the lease transaction per the terms of the lease documents. Lessor may rely and act on the instructions set forth herein and shall not be responsible for the use or application of the funds, and Lessee shall indemnify, defend and hold harmless Lessor from and against any and all losses, costs, expenses, fees, claims, damages, liabilities, and causes of action in any way relating to or arising from acting in accordance therewith. In the event of any conflict with any other instruction set forth herein, the ABA # and Account # shall control.
(The next page is the signature page)
151211-V1
PROCEEDS DISBURSEMENT AUTHORIZATION
SIGNATURE PAGE
IN WITNESS WHEREOF, the Lessee has caused this Proceeds Disbursement Authorization to be executed as of the day and year first above written.
CITY OF CHULA VISTA
(Lessee)
By:
Title:
Form 8038-G
(Rev. October 2021)
Department of the Treasury
Internal Revenue Service
Information Return for Tax-Exempt Governmental Bonds
▶ Under Internal Revenue Code section 149(e)
▶ See separate instructions.
Caution: If the issue price is under $100,000, use Form 8038-GC. ▶ Go to www.irs.gov/F8038G for instructions and the latest information.
OMB No. 1545-0047
Part I Reporting Authority Check box if Amended Return ▶ 1 Issuer’s name 2 Issuer’s employer identification number (EIN) 3a Name of person (other than issuer) with whom the IRS may communicate about this return (see instructions) 3b Telephone number of other person shown on 3a 4 Number and street (or P.O. box if mail is not delivered to street address) Room/suite 5 Report number (For IRS Use Only) 3 6 City, town, or post office, state, and ZIP code 7 Date of issue 8 Name of issue 9 CUSIP number
10a Name and title of officer or other employee of the issuer whom the IRS may call for more information 10b Telephone number of officer or other employee shown on 10a
Part II Type of Issue (Enter the issue price.) See the instructions and attach schedule. 11 Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Health and hospital . . . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Transportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 Public safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 15 Environment (including sewage bonds) . . . . . . . . . . . . . . . . . . . . 15 16 Housing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 18 Other. Describe ▶ 18
19 a If bonds are TANs or RANs, check only box 19a . . . . . . . . . . . . . . . ▶ b If bonds are BANs, check only box 19b . . . . . . . . . . . . . . . . . . ▶ 20 If bonds are in the form of a lease or installment sale, check box . . . . . . . . . ▶ Part III Description of Bonds. Complete for the entire issue for which this form is being filed. 21 (a) Final maturity date (b) Issue price (c) Stated redemption price at maturity
(d) Weighted
average maturity (e) Yield
$ $ years %
Part IV Uses of Proceeds of Bond Issue (including underwriters’ discount) 22 Proceeds used for accrued interest . . . . . . . . . . . . . . . . . . . . . 22 23 Issue price of entire issue (enter amount from line 21, column (b)) . . . . . . . . . . . 23 24 Proceeds used for bond issuance costs (including underwriters’ discount) 24 25 Proceeds used for credit enhancement . . . . . . . . . . . . 25 26 Proceeds allocated to reasonably required reserve or replacement fund . 26 27 Proceeds used to refund prior tax-exempt bonds. Complete Part V . . . 27 28 Proceeds used to refund prior taxable bonds. Complete Part V . . . . 28 29 Total (add lines 24 through 28) . . . . . . . . . . . . . . . . . . . . . . . 29 30 Nonrefunding proceeds of the issue (subtract line 29 from line 23 and enter amount here) . . . 30 Part V Description of Refunded Bonds. Complete this part only for refunding bonds. 31 Enter the remaining weighted average maturity of the tax-exempt bonds to be refunded . . . ▶ years 32 Enter the remaining weighted average maturity of the taxable bonds to be refunded . . . . ▶ years 33 Enter the last date on which the refunded tax-exempt bonds will be called (MM/DD/YYYY) . . ▶ 34 Enter the date(s) the refunded bonds were issued ▶ (MM/DD/YYYY) For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 63773S Form 8038-G (Rev. 10-2021)
Form 8038-G (Rev. 10-2021) Page 2
Part VI Miscellaneous
35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5) . . . . 35 36 a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract (GIC). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . 36a b Enter the final maturity date of the GIC ▶ (MM/DD/YYYY) c Enter the name of the GIC provider ▶
37 Pooled financings: Enter the amount of the proceeds of this issue that are to be used to make loans to other governmental units . . . . . . . . . . . . . . . . . . . . . . . . 37 38 a If this issue is a loan made from the proceeds of another tax-exempt issue, check box ▶ and enter the following information:
b Enter the date of the master pool bond ▶ (MM/DD/YYYY) c Enter the EIN of the issuer of the master pool bond ▶ d Enter the name of the issuer of the master pool bond ▶ 39 If the issuer has designated the issue under section 265(b)(3)(B)(i)(III) (small issuer exception), check box . . . . ▶ 40 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box . . . . . . . . . . . . . ▶ 41 a If the issuer has identified a hedge, check here ▶ and enter the following information:
b Name of hedge provider ▶
c Type of hedge ▶
d Term of hedge ▶
42 If the issuer has superintegrated the hedge, check box . . . . . . . . . . . . . . . . . . . . . ▶ 43 If the issuer has established written procedures to ensure that all nonqualified bonds of this issue are remediated according to the requirements under the Code and Regulations (see instructions), check box . . . . . . . . ▶ 44 If the issuer has established written procedures to monitor the requirements of section 148, check box . . . . . ▶ 45a If some portion of the proceeds was used to reimburse expenditures, check here ▶ and enter the amount of reimbursement . . . . . . . . . . . . . . ▶
b Enter the date the official intent was adopted ▶ (MM/DD/YYYY) Signature
and
Consent
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. I further declare that I consent to the IRS’s disclosure of the issuer’s return information, as necessary to process this return, to the person that I have authorized above.▲ Signature of issuer’s authorized representative Date
▲
Type or print name and title
Paid
Preparer
Use Only
Print/Type preparer’s name Preparer’s signature Date Check if self-employed
PTIN
Firm’s name ▶
Firm’s address ▶
Firm’s EIN ▶
Phone no.
Form 8038-G (Rev. 10-2021)
Userid: CPM Schema: instrx Leadpct: 100% Pt. size: 9 Draft Ok to Print AH XSL/XML Fileid: … s/i8038g/202110/a/xml/cycle04/source (Init. & Date) _______
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
Instructions for Form 8038-G
(Rev. October 2021)
Information Return for Tax-Exempt Governmental Bonds
Department of the Treasury
Internal Revenue Service
Section references are to the Internal Revenue
Code unless otherwise noted.
Future Developments
For the latest information about
developments related to Form 8038-G and
its instructions, such as legislation
enacted after they were published, go to
IRS.gov/Form8038G.
General Instructions
Purpose of Form
Form 8038-G is used by issuers of
tax-exempt governmental bonds to
provide the IRS with the information
required by section 149(e) and to monitor
compliance with the requirements of
sections 141 through 150.
Who Must File
IF the issue price
(line 21, column (b))
is...
THEN, for tax-exempt
governmental bonds
issued after December
31, 1986, issuers must
file...
$100,000 or more a separate Form 8038-G
for each issue.
less than $100,000 Form 8038-GC,
Information Return for
Small Tax-Exempt
Governmental Bond
Issues, Leases, and
Installment Sales.
When To File
File Form 8038-G on or before the 15th
day of the 2nd calendar month after the
close of the calendar quarter in which the
bond is issued. Form 8038-G may not be
filed before the issue date and must be
completed based on the facts as of the
issue date.
Late filing. An issuer may be granted an
extension of time to file Form 8038-G
under section 3 of Rev. Proc. 2002-48,
2002-37 I.R.B. 531, if it is determined that
the failure to file timely is not due to willful
neglect. Type or print at the top of the form
“Request for Relief under section 3 of Rev.
Proc. 2002-48” and attach a letter
explaining why Form 8038-G was not
submitted to the IRS on time. Also indicate
whether the bond issue in question is
under examination by the IRS. Do not
submit copies of the trust indenture or
other bond documents. See Where To File
next.
Where To File
File Form 8038-G and any attachments at
the following address.
Department of the Treasury
Internal Revenue Service Center
Ogden, UT 84201
Private delivery services. You can use
certain private delivery services (PDS)
designated by the IRS to meet the “timely
mailing as timely filing” rule for tax returns.
Go to IRS.gov/PDS for the current list of
designated services.
The PDS can tell you how to get written
proof of the mailing date.
For the IRS mailing address to use if
you're using PDS, go to IRS.gov/
PDSstreetAddresses.
PDS can’t deliver items to P.O.
boxes. You must use the U.S.
Postal Service to mail any item to
an IRS P.O. box address.
Other Forms That May Be
Required
For rebating arbitrage (or paying a penalty
in lieu of arbitrage rebate) to the federal
government, use Form 8038-T, Arbitrage
Rebate, Yield Reduction and Penalty in
Lieu of Arbitrage Rebate.
For private activity bonds, use Form
8038, Information Return for Tax-Exempt
Private Activity Bond Issues.
Rounding to Whole Dollars
You may show the money items on this
return as whole-dollar amounts. To round,
drop amounts under 50 cents and
increase amounts from 50 to 99 cents to
the next dollar (for example, $1.39
becomes $1 and $2.50 becomes $3).
If two or more amounts must be added
to figure the amount to enter on a line,
include cents when adding the amounts
and round off only the total.
Definitions
Bond. This is any obligation, including
bond, note, commercial paper, installment
purchase agreement, or financing lease.
Taxable bond. This is any bond the
interest on which is not excludable from
gross income under section 103. Taxable
bonds include tax credit bonds and direct
pay bonds.
Tax-exempt bond. This is any obligation,
including a bond, installment purchase
CAUTION
!
agreement, or financial lease, on which
the interest is excluded from income under
section 103.
Tax-exempt governmental bond. A
tax-exempt bond that is not a private
activity bond (see next) is a tax-exempt
governmental bond. This includes a bond
issued by a qualified volunteer fire
department under section 150(e).
Private activity bond. This includes a
bond issued as part of an issue in which:
• More than 10% of the proceeds are to
be used for any private activity
business use; and
• More than 10% of the payment of
principal or interest of the issue is
either (a) secured by an interest in
property to be used for a private
business use (or payments for such
property), or (b) to be derived from
payments for property (or borrowed
money) used for a private business
use.
It also includes a bond, the proceeds of
which (a) are to be used directly or
indirectly to make or finance loans (other
than loans described in section 141(c)(2))
to persons other than governmental units,
and (b) exceeds the lesser of 5% of the
proceeds or $5 million.
Issue price. The issue price of bonds is
generally determined under Regulations
section 1.148-1(f). Thus, when issued for
cash, the issue price is the first price at
which a substantial amount of the bonds
are sold to the public. To determine the
issue price of a bond issued for property,
see sections 1273 and 1274 and the
related regulations.
Issue. Generally, bonds are treated as
part of the same issue if they are issued by
the same issuer, on the same date, and in
a single transaction, or a series of related
transactions (see Regulations section
1.149(e)-1(e)(2)). However, bonds issued
during the same calendar year (a) under a
loan agreement under which amounts are
to be advanced periodically (a “draw-down
loan”), or (b) with a term not exceeding
270 days, may be treated as part of the
same issue if the bonds are equally and
ratably secured under a single indenture
or loan agreement and are issued under a
common financing arrangement (for
example, under the same official
statement periodically updated to reflect
changing factual circumstances). Also, for
bonds issued under a draw-down loan that
meet the requirements of the preceding
Sep 21, 2021 Cat. No. 63774D
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing. sentence, bonds issued during different
calendar years may be treated as part of
the same issue if all of the amounts to be
advanced under the draw-down loan are
reasonably expected to be advanced
within 3 years of the date of issue of the
first bond. Likewise, bonds (other than
private activity bonds) issued under a
single agreement that is in the form of a
lease or installment sale may be treated
as part of the same issue if all of the
property covered by that agreement is
reasonably expected to be delivered
within 3 years of the date of issue of the
first bond.
Arbitrage rebate. Generally, interest on
a state or local bond is not tax exempt
unless the issuer of the bond rebates to
the United States arbitrage profits earned
from investing proceeds of the bond in
higher yielding nonpurpose investments.
See section 148(f).
Construction issue. This is an issue of
tax-exempt bonds that meets both of the
following conditions.
1. At least 75% of the available
construction proceeds are to be used
for construction expenditures with
respect to property to be owned by a
governmental unit or a section 501(c)
(3) organization.
2. All the bonds that are part of the issue
are qualified 501(c)(3) bonds, bonds
that are not private activity bonds, or
private activity bonds issued to
finance property to be owned by a
governmental unit or a section 501(c)
(3) organization.
In lieu of rebating any arbitrage that
may be owed to the United States, the
issuer of a construction issue may make
an irrevocable election to pay a penalty.
The penalty is equal to 11/2% of the
amount of the available construction
proceeds of the issue that do not meet
certain spending requirements as of the
close of each 6-month period after the
date the bonds were issued. See section
148(f)(4)(C) and the Instructions for Form
8038-T.
Pooled financing issue. This is an issue
of tax-exempt bonds, the proceeds of
which are to be used to finance purpose
investments representing conduit loans to
two or more conduit borrowers, unless
those conduit loans are to be used to
finance a single capital project.
Specific Instructions
Part I—Reporting Authority
Amended return. An issuer may file an
amended return to change or add to the
information reported on a previously filed
return for the same date of issue. If you
are filing to correct errors or change a
previously filed return, check the
Amended Return box in the heading of the
form.
The amended return must provide all
the information reported on the original
return, in addition to the new or corrected
information. Attach an explanation of the
reason for the amended return and write
across the top, “Amended Return
Explanation.” Failure to attach an
explanation may result in a delay in
processing the form.
Line 1. The issuer's name is the name of
the entity issuing the bonds, not the name
of the entity receiving the benefit of the
financing. For a lease or installment sale,
the issuer is the lessee or the purchaser.
Line 2. An issuer that does not have an
employer identification number (EIN)
should apply online by visiting the IRS
website at IRS.gov/EIN. The organization
may also apply for an EIN by faxing or
mailing Form SS-4 to the IRS.
Line 3a. If the issuer wishes to authorize
a person other than an officer or other
employee of the issuer (including a legal
representative or paid preparer) to
communicate with the IRS and whom the
IRS may contact about this return
(including in writing or by telephone), enter
the name of such person here. The person
listed on line 3a must be an individual. Do
not enter the name and title of an officer or
other employee of the issuer here (use
line 10a for that purpose).
Note. By authorizing a person other than
an authorized officer or other employee of
the issuer to communicate with the IRS
and whom the IRS may contact about this
return, the issuer authorizes the IRS to
communicate directly with the individual
entered on line 3a and consents to
disclose the issuer's return information to
that individual, as necessary, to process
this return.
Lines 4 and 6. If you listed an individual
on line 3a to communicate with the IRS
and whom the IRS may contact about this
return, enter the number and street (or
P.O. box if mail is not delivered to street
address), city, town, or post office, state,
and ZIP code of that person. Otherwise,
enter the issuer's number and street (or
P.O. box if mail is not delivered to street
address), city, town, or post office, state,
and ZIP code.
Note. The address entered on lines 4 and
6 is the address the IRS will use for all
written communications regarding the
processing of this return, including any
notices.
Line 5. This line is for IRS use only. Do
not make any entries in this box.
Line 7. The date of issue is generally the
first date on which the issuer physically
exchanges any bond included in the issue
for the underwriter's (or other purchaser's)
funds. For a lease or installment sale,
enter the date interest starts to accrue in
an MM/DD/YYYY format.
Line 8. If there is no name of the issue,
please provide other identification of the
issue.
Line 9. Enter the CUSIP (Committee on
Uniform Securities Identification
Procedures) number of the bond with the
latest maturity. If the issue does not have a
CUSIP number, write “None.”
Line 10a. Enter the name and title of the
officer or other employee of the issuer
whom the IRS may call for more
information. If the issuer wishes to
designate a person other than an officer or
other employee of the issuer (including a
legal representative or paid preparer)
whom the IRS may call for more
information about the return, enter the
name, title, and telephone number of such
person on lines 3a and 3b.
Complete lines 10a and 10b even
if you complete lines 3a and 3b.
Part II—Type of Issue
Elections referred to in Part II are
made on the original bond
documents, not on this form.
Identify the type of bonds issued by
entering the issue price in the box
corresponding to the type of bond (see
Issue price under Definitions, earlier).
Attach a schedule listing names and EINs
of organizations that are to use proceeds
of these bonds, if different from those of
the issuer, include a brief summary of the
use and indicate whether or not such user
is a governmental or nongovernmental
entity.
Line 18. Enter a description of the issue
in the space provided.
Line 19. If the bonds are short-term tax
anticipation notes or warrants (TANs) or
short-term revenue anticipation notes or
warrants (RANs), check box 19a. If the
bonds are short-term bond anticipation
notes (BANs), issued with the expectation
that they will be refunded with the
proceeds of long-term bonds at some
future date, check box 19b. Do not check
both boxes.
Line 20. Check this box if property other
than cash is exchanged for the bond, for
example, acquiring a police car, a fire
truck, or telephone equipment through a
series of monthly payments. (This type of
bond is sometimes referred to as a
“municipal lease.”) Also check this box if
real property is directly acquired in
CAUTION
!
CAUTION
!
-2- Instructions for Form 8038-G (Rev. 10-2021)
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing. exchange for a bond to make periodic
payments of interest and principal. Do not
check this box if the proceeds of the bond
are received in the form of cash, even if
the term “lease” is used in the title of the
issue.
Part III—Description of Bonds
Line 21. For column (a), the final maturity
date is the last date the issuer must
redeem the entire issue.
For column (b), see Issue price under
Definitions, earlier.
For column (c), the stated redemption
price at maturity of the entire issue is the
sum of the stated redemption prices at
maturity of each bond issued as part of the
issue. For a lease or installment sale, write
“N/A” in column (c).
For column (d), the weighted average
maturity is the sum of the products of the
issue price of each maturity and the
number of years to maturity (determined
separately for each maturity and by taking
into account mandatory redemptions),
divided by the issue price of the entire
issue (from line 21, column (b)). For a
lease or installment sale, enter instead the
total number of years the lease or
installment sale will be outstanding.
For column (e), the yield, as defined in
section 148(h), is the discount rate that,
when used to figure the present value of
all payments of principal and interest to be
paid on the bond, produces an amount
equal to the purchase price, including
accrued interest. See Regulations section
1.148-4 for specific rules to figure the yield
on an issue. If the issue is a variable rate
issue, write “VR” as the yield of the issue.
For other than variable rate issues, carry
the yield out to four decimal places (for
example, 5.3125%). If the issue is a lease
or installment sale, enter the effective rate
of interest being paid.
Part IV—Uses of Proceeds of
Bond Issue
For a lease or installment sale, write “N/A”
in the space to the right of the title for Part
IV.
Line 22. Enter the amount of proceeds
that will be used to pay interest on the
issue accruing prior to the date of issue.
For definition of date of issue, see these
instructions, line 7.
Line 24. Enter the amount of the
proceeds that will be used to pay bond
issuance costs, including fees for trustees
and bond counsel. If no bond proceeds
will be used to pay bond issuance costs,
enter zero. Do not leave this line blank.
Line 25. Enter the amount of the
proceeds that will be used to pay fees for
credit enhancement that are taken into
account in determining the yield on the
issue for purposes of section 148(h) (for
example, bond insurance premiums and
certain fees for letters of credit).
Line 26. Enter the amount of proceeds
that will be allocated to such a fund.
Line 27. Enter the amount of the
proceeds that will be used to pay principal,
interest, or call premium on any
tax-exempt bonds, including proceeds
that will be used to fund an escrow
account for this purpose.
Line 28. Enter the amount of the
proceeds that will be used to pay principal,
interest, or call premium on any taxable
bonds, including proceeds that will be
used to fund an escrow account for this
purpose.
Part V—Description of
Refunded Bonds
Complete this part only if the bonds are to
be used to refund a prior issue of
tax-exempt bonds or taxable bonds. For a
lease or installment sale, write “N/A” in the
space to the right of the title for Part V.
Lines 31 and 32. The remaining
weighted average maturity is determined
without regard to the refunding. The
weighted average maturity is determined
in the same manner as on line 21, column
(d).
Line 34. If more than a single issue of
tax-exempt bonds or taxable bonds will be
refunded, enter the date of issue for each
refunded issue. Enter the date in an
MM/DD/YYYY format.
Part VI—Miscellaneous
Line 35. An allocation of volume cap is
required if the nonqualified amount for the
issue is more than $15 million but is not
more than the amount that would cause
the issue to be private activity bonds.
Line 36. If any portion of the gross
proceeds of the issue is or will be invested
in a guaranteed investment contract (GIC),
as defined in Regulations section
1.148-1(b), enter the amount of the gross
proceeds so invested, as well as the final
maturity date of the GIC and the name of
the provider of such contract.
Line 37. If the issue is a pooled financing
issue (as defined under Pooled financing
issue in Definitions, earlier), enter the
amount of the proceeds used to make
loans to other governmental units, the
interest on which is tax exempt.
Line 38. If the issue is a loan of proceeds
from a pooled financing issue (as defined
under Pooled financing issue in
Definitions, earlier), check the box and
where asked for the date of issue, EIN,
and name of the issuer of the master pool
bond, enter the date of issue, EIN, and
name of the issuer of the pooled financing
issue.
Line 40. Check this box if the issue is a
construction issue and an irrevocable
election to pay a penalty in lieu of
arbitrage rebate has been made on or
before the date the bonds were issued.
The penalty is payable with a Form 8038-T
for each 6-month period after the date the
bonds are issued. Do not make any
payment of penalty in lieu of arbitrage
rebate with this form. See Rev. Proc.
92-22, 1992-1 C.B. 736, for rules
regarding the “election document.”
Line 41a. Check this box if the issuer
has identified a hedge on its books and
records according to Regulations sections
1.148-4(h)(2)(viii) and 1.148-4(h)(5)(iv)
that permit an issuer of tax-exempt bonds
to identify a hedge for it to be included in
yield calculations for figuring arbitrage.
Line 42. In determining if the issuer has
super-integrated a hedge, apply the rules
of Regulations section 1.148-4(h)(4). If the
hedge is super-integrated, check the box.
Line 43. If the issuer takes a “deliberate
action” after the issue date that causes the
conditions of the private business tests or
the private loan financing test to be met,
then such issue is also an issue of private
activity bonds. Regulations section
1.141-2(d)(3) defines a deliberate action
as any action taken by the issuer that is
within its control regardless of whether
there is intent to violate such tests.
Regulations section 1.141-12 explains the
conditions to taking remedial action that
prevent an action that causes an issue to
meet the private business tests or private
loan financing test from being treated as a
deliberate action. Check the box if the
issuer has established written procedures
to ensure timely remedial action for all
nonqualified bonds according to
Regulations section 1.141-12 or other
remedial actions authorized by the
Commissioner under Regulations section
1.141-12(h).
Line 44. Check the box if the issuer has
established written procedures to monitor
compliance with the arbitrage, yield
restriction, and rebate requirements of
section 148.
Line 45a. Check the box if some part of
the proceeds was used to reimburse
expenditures. Figure and then enter the
amount of proceeds that are used to
reimburse the issuer for amounts paid for
a qualified purpose prior to the issuance of
the bonds. See Regulations section
1.150-2.
Line 45b. Subject to certain exceptions
under Regulations section 1.150-2(f), an
issuer must adopt an official intent, as
described in Regulations section
1.150-2(e), to reimburse itself for
preissuance expenditures within 60 days
after payment of the original expenditure.
Instructions for Form 8038-G (Rev. 10-2021) -3-
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
Enter the date the official intent was
adopted.
Signature and Consent
An authorized representative of the issuer
must sign Form 8038-G and any
applicable certification. Also print the
name and title of the person signing Form
8038-G. The authorized representative of
the issuer signing this form must have the
authority to consent to the disclosure of
the issuer's return information, as
necessary to process this return, to the
person(s) that have been designated in
Form 8038-G.
Note. If the issuer in Part I, lines 3a and
3b, authorizes the IRS to communicate
(including in writing and by telephone) with
a person other than an officer or other
employee of the issuer, by signing this
form, the issuer's authorized
representative consents to the disclosure
of the issuer's return information, as
necessary to process this return, to such
person.
Paid Preparer
If an authorized officer of the issuer filled in
this return, the paid preparer's space
should remain blank. Anyone who
prepares the return but does not charge
the organization should not sign the
return. Certain others who prepare the
return should not sign. For example, a
regular, full-time employee of the issuer,
such as a clerk, secretary, etc., should not
sign.
Generally, anyone who is paid to
prepare a return must sign it and fill in the
other blanks in the Paid Preparer Use Only
area of the return.
The paid preparer must:
• Sign the return in the space provided
for the preparer's signature (a
facsimile signature is acceptable),
• Enter the preparer information, and
• Give a copy of the return to the issuer.
Paperwork Reduction Act Notice. We
ask for the information on this form to carry
out the Internal Revenue laws of the
United States. You are required to give us
the information. We need it to ensure that
you are complying with these laws.
You are not required to provide the
information requested on a form that is
subject to the Paperwork Reduction Act
unless the form displays a valid OMB
control number. Books or records relating
to a form or its instructions must be
retained as long as their contents may
become material in the administration of
any Internal Revenue law. Generally, tax
returns and return information are
confidential, as required by section 6103.
The time needed to complete and file
this form will vary depending on the
individual circumstances. The estimated
burden for tax-exempt organizations filing
this form is approved under OMB control
number 1545-0047 and is included in the
estimates shown in the instructions for
their information return.
If you have suggestions for making this
form simpler, we would be happy to hear
from you. You can send us comments
through IRS.gov/FormComments.
Or you can write to:
Internal Revenue Service
Tax Forms and Publications
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224
Do not send the form to this address.
Instead, see Where To File, earlier.
-4- Instructions for Form 8038-G (Rev. 10-2021)
170113-V2
SSIIGGNN UUPP .. .. .. .. FFOORR AAUUTTOOMMAATTEEDD BBIILLLL PPAAYYMMEENNTT
Please complete ALL Sections and return this form:
I authorize JPMORGAN CHASE BANK, N.A. to make withdrawals from the account listed below. I understand that I control my withdrawals for payments on leases and loans. If at any time I decide to discontinue this payment service, I will notify the biller. I also understand that any future leases and loans will automatically be set up with auto debit withdrawals unless JPMorgan Chase Bank, N.A. elects to the contrary. All assessments and other fees payable under the leases and loans will be withdrawn with rental/installment payments unless otherwise instructed. (PLEASE PRINT)
Customer Information: Financial Institution:
Name: CITY OF CHULA VISTA Name:
Address: 276 4TH AVE Address:
City: CHULA VISTA City:
State: CA Zip: 91910 State: Zip:
Account Type (check one) Checking Savings
Routing /ABA Number __________________________ Account Number __________________________
(Please enclose a voided check)
Biller Information:
Your JPMorgan Chase Bank, N.A. Account Number(s) as Shown on Agreement or Invoice. (A sign up form is required for each unique financial institution account and routing/ABA number.)
1000149192 1000 __ __ __ __ __ __ 1000 __ __ __ __ __ __ 1000 __ __ __ __ __ __
Notice to Customer - This agreement authorizes the periodic transfer of funds from your account at the financial institution listed on this sign up form by electronic means. Your rights and liabilities under this agreement are governed in part by federal laws and regulations dealing with electronic fund transfers. You should consult your agreement with the financial institution, which holds your account for a more complete disclosure of your legal rights. Withdrawal amount may change to reflect the payment schedule defined in the agreement. This authorization and change of payment method will not modify or amend the agreement, including any rights or remedies of JPMorgan Chase Bank, N.A. The biller reserves the right to discontinue this payment service at biller’s discretion and upon notice to the customer.
Authorized Signature Date Telephone No.
Do Not Enclose Payment!
Mail to: JPMorgan Chase Bank, N.A.
1111 Polaris Parkway, Suite N4 (OH1-1085)
Columbus, Ohio 43240
Phone: 1-800-678-2601 Option #2
Or
Email: [email protected]
THINGS YOU NEED TO KNOW ABOUT AUTOMATED BILL PAYMENT
170113-V2
Q. How do I sign up?
A. Complete all sections of this form, sign, enclose a voided check and mail or email to [email protected].
Q. Once I have enrolled in the automated bill payment will JPMorgan Chase Bank, N.A. give me notice of when my automated bill payment will begin?
A. Yes. You will be notified by mail in advance of your actual start date. Typically, it will take 4 to 6 weeks before you will begin.
Please continue to pay until notification is received.
Q. When will the payment amounts be taken out of my checking or savings account? A. The periodic payment will be deducted from your checking or savings account automatically by JPMorgan Chase Bank, N.A. on the payment due date. If the payment due date falls on a weekend or holiday the payment will be deducted on the next business day.
Q. What if I have a question about my bill payment or want to stop the automated payment plan? A. Simply call us at 1-800-678-2601 Option #2.
Q. How can I be sure my bill has been paid?
A. Your payment will be clearly itemized on your bank's monthly account statement.
Q. Is there a charge for this service?
A. No. You are a valued customer and we offer this service free of charge.
Q. If I've already signed up, must I complete the form again? A. Only if you are adding or changing the financial institution account and/or routing/ABA numbers.
Q. How will I be billed for assessments?
A. Assessments such as personal property tax and fees will be deducted with your rental payment unless otherwise instructed by you in writing.