1990-013 Master Lease Agrmt RESOLUTION NO. 90-13
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ENCINITAS, CALIFORNIA
TO ~.DPROVE A MASTERLEASE AGREEMENT AND SIGNATORIES
WHEREAS, the City of Encinitas, County of San Diego, State of
California ("CITY") is duly authorized and existing under the laws
of said State; and
WHEREAS, CITY solicited third party proposals for a master
lease financing arrangement to finance various personal property
("PROPERTY") from time to time up to an aggregate cost of
$1,000,000; and
WHEREAS, Municipal Leasing Associates, Inc. ("LESSOR") has
offered the CITY the most cost effective proposal for financing
such PROPERTY over three to sever year term;
NOW, THEREFORE BE IT RESOLVED by the City of Encinitas that
the City Manager or Assistant City Manager acting alone be hereby
authorized in the name and on behalf of the CITY to enter into
binding agreements for leasing City Council approved PROPERTY upon
such terms as may seem advisable to said officer(s), and to
execute, as agent for the CITY, all necessary agreements including,
but not limited to, a master lease/option agreement, advance
payment agreement, acknowledgement of assignment and acceptance
certificate. Each officer is also authorized to accept or direct
delivery of the PROPERTY. The authority given hereunder shall be
deemed retroactive and any all acts authorized hereunder performed
prior to the passage of this.resolution are hereby ratified and
affirmed.
I further certify that the officer(s) referred to in the foregoing
resolution are not held by the following:
TITLE OF OFFICER
City Manager
Assistant City Manager
NAME OF OFFICER
Warren H. Shafer
James F. Benson
IGNATURE OF OFFICER
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PASSED AND ADOPTED this 28th day of March, 1990 with the
following vote to wit:
AYES:
Gaines, Hano, Omsted, Shea, Slater
NAYS: None
ABSENT: None
ABSTAIN: None
%~POOL, City Clerk
E®
City of Encinitas, California
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