HomeMy WebLinkAboutReso - CC - 011-2011RESOLUTION NO11-2011
A RESOLUTION OF
THE CITY COUNCIL OF THE CITY OF BURLINGAME APPROVING AND
AUTHORIZING THE FINANCE DIRECTOR TO EXECUTE A MASTER
EQUIPMENT LEASE PURCHASE AGREEMENT, EQUIPMENT SCHEDULE
NO. 1 AND AN ESCROW AGREEMENT IN CONNECTION WITH THE
ACQUISITION AND INSTALLATION OF AN UPDATED COMMUNICATION
AND TECHNOLOGY MODERNIZATION PROJECT
WHEREAS, the City of Burlingame, California (the "City"), is a general law
municipal corporation duly organized and existing in San Mateo County, under the
constitution and laws of the State of California; and
WHEREAS, the City has determined that a true and real need exists for the
acquisition and installation of an updated communication and technology modernization
project (the "Equipment"); and
WHEREAS, the City finds that it is necessary and desirable and in the best
interest of the City, as lessee, to enter into a Master Equipment Lease Purchase
Agreement (the "Master Lease") and Schedule No. 1 thereto (the "Schedule"), with
Holman Capital Corporation, as lessor, for the purposes described therein, including the
leasing of the Equipment;
NOW, THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF
THE CITY OF BURLINGAME, CALIFORNIA, AS FOLLOWS:
Section 1. The Master Lease and the Schedule, in substantially the same forms as
presented to this meeting, and the terms and performance thereof are
hereby approved, and the City Finance Director is hereby authorized to
execute and deliver the Master Lease and the Schedule on behalf of the
City, with such changes therein as shall be approved by such officers, such
approval to be conclusively evidenced by their execution thereof.
Section 2. The Escrow Agreement (the "Escrow Agreement"), among the
Lessee, the Lessor and the escrow agent named therein, in substantially
the same form as presented to this meeting, and the terns and performance
thereof are hereby approved, and the Escrow Agreement is hereby
authorized to be executed and delivered on behalf of the Lessee by a duly
authorized officer of the Lessee, with such changes therein as shall be
approved by such officer, such approval to be conclusively evidenced by
such officer's execution thereof.
Section 3. The City shall, and the officers, agents and employees of the City are
hereby authorized and directed to take such further action and execute
such other documents, certificates and instruments as may be necessary or
desirable to carry out and comply with the intent of this Resolution, and to
carry out, comply with and perform the duties of the City with respect to
the Master Lease and the Schedule.
Section 4. This Resolution shall take effect and be in full force immediately after its
adoption by the City Council.
Terry Nadel, Mahr
I, Mary Ellen Kearney, City Clerk of the City of Burlingame do hereby certify
that the foregoing Resolution was introduced at a regular meeting of the City Council on
the 22` d day of February, 2011, and was adopted thereafter by the following vote:
AYES: Councilmembers: BAYLOCK, BROWNRIGG, DEAL, KEIGHRAN, NAGEL
NOES: Councilmembers: NONE
ABSENT: Councilmembers: NONE
Mary EllAn Kearney, City Cler