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RESOLUTION NO. _______
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AUTHORIZING EXECUTION AND
DELIVERY OF A LEASE AGREEMENT AND APPROVING
RELATED DOCUMENTS AND ACTIONS
WHEREAS, the City of Chula Vista (the “City”) desires to lease new golf carts and is proceeding to finance the lease of said golf carts and related items (the “Property”) as referenced in the Lease Agreement (defined below); and
WHEREAS, in order to obtain the Property , the City has proposed to lease the Property from The Huntington National Bank (the “Lessor”) pursuant to the terms of a Lease Agreement (the “Lease Agreement”), by and between the City, as lessee, and the Lessor; and
WHEREAS, the City is authorized to enter into lease agreements for equipment pursuant to Sections 37350 and 37351 of the California Government Code; and
WHEREAS, the City Council of the City (the “City Council”) wishes at this time to authorize and approve all proceedings for the leasing of the Property , the Lease Agreement, and all related documents and actions in furtherance of the public purposes of the City.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista, as follows:
SECTION 1. Recitals. The foregoing recitals are true and correct and the City Council so finds and determines.
SECTION 2. Authorized Officers. The City Manager, Assistant City Manager, the Mayor, or either of their designee (each, an “Authorized Officer”) are hereby each, acting alone, authorized and directed to execute and deliver the Lease Agreement and all related documents on behalf of the City (subject to making such changes to the Lease Agreement or any related documents as they deem necessary or appropriate). The Authorized Officers are further authorized and directed to consummate the transaction described herein, execute any documents or supplementary agreements necessary to se cure possess ion and use of the Property, and to approve any amendments necessary to carry out the provisions of this authorizing Resolution.
SECTION 3. Approval of Lease Agreement and Documents. The City Co uncil hereby approves the leasing plan outlined herein. To that end, the City Council hereby approves each of the lease documents in substantially the respective forms as presented to the City Council at this meeting, together with any changes therein or additions thereto deemed advisable by an Authorized Officer, whose execution thereof shall be conclusive evidence of such approval. The Lease Agreement, by and between the City, as lessee, and the Lessor, whereby the City leases the Property under the terms thereof, and whereby the Lessor agrees to l ease the Property to the City in consideration of the payment by the City of the rental payments provided thereunder; provided 60297.00069/41247054.1
that (i) the total lease amount under the Lease Agreement shall not exceed $ 600,000, and (ii) the term of the Lease Agreement shall not exceed 6 years.
An Authorized Officer is authorized and directed for and in the name and on behalf of the City to execute and attest the final form of the Lease Agreement and all related documents. The documents are hereby approved, subject to the adjustment by an Authorized Officer but not excess of the above limitations as to the lease term and total amount for the lease of the Property.
SECTION 4. Official Actions. The Authorized Officers are each authorized and directed in the name and on behalf of the City to make, execute, and deliver any and all assignments, certificates, requisitions, agreements, notices, consents, leases, designations relating to bank qualification under Section 265(b)(3)(B) of t he Internal Revenue Code of 1986, escrow agreements, and other instruments of conveyance, warrants, and other documents (which may also be subject to approval as to form by the City Attorney), which they or any of them might deem necessary or appropriate i n order to consummate any of the transactions contemplated by the agreements and documents approved under this Resolution.
SECTION 5. Effective Date. This Resolution shall take effect from and immediately after the date of its passage and adoption.
Presented by Approved as to form
By:
Eric C. Crockett Jill D.S. Maland
Deputy City Manager/Director of Economic Lounsbery Ferguson Altona & Peak Development Acting City Attorney
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