HomeMy WebLinkAbout4198 Resolution - Lease with PNC Bank for Three Fire TrucksRESOLUTION NO. 4198
Municipality/Lessee: The City of Pasco, Washington
Principal Amount Expected to Be Financed: $2.724.255.71
WHEREAS, the City of Pasco is a political subdivision of the State of Washington and is
duly organized and existing pursuant to the Constitution and laws of the State;
WHEREAS, pursuant to RCW 35A.13.230, the City Council of the City of Pasco is
authorized to acquire, dispose of and encumber real and personal property, including, without
limitation, rights and interest in property, leases and easements necessary to the functions or
operations of the City;
WHEREAS, the City Council of the City of Pasco hereby finds and determines that the
execution of one or more Lease -Purchase Agreements ("Leases") in the principal amount not
exceeding the amount stated above for the purpose of acquiring the property ("Equipment") to be
described in the Leases is appropriate and necessary to the functions and operations of the City of
Pasco; and
WHEREAS, PNC Bank, National Association shall act as Lessor under said Leases.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PASCO, WASHINGTON that:
Section 1. The City Manager acting on behalf of the City of Pasco, is hereby authorized to
negotiate, enter into, execute, and deliver one or more Leases in substantially the form set forth in
the document presently before the City Council, which document is available for public inspection
at the office of the City of Pasco Clerk. The City Manager acting on behalf of the City of Pasco is
hereby authorized to negotiate, enter into, execute, and deliver such other documents relating to
the Lease as the City Manager deems necessary and appropriate. All other related contracts and
agreements necessary and incidental to the Leases are hereby authorized.
Section 2. By a written instrument signed by the City Council, said City Manager may
designate specifically identified officers or employees of the City of Pasco to execute and deliver
agreements and documents relating to the Leases on behalf of the City of Pasco.
Section 3. The aggregate original principal amount of the Leases shall not exceed the
amount stated above and shall bear interest as set forth in the Leases and the Leases shall contain
such options to purchase by the City of Pasco as set forth therein.
Section 4. The City of Pasco's obligations under the Leases shall be subject to annual
appropriation or renewal by the City Council as set forth in each Lease and the City of Pasco's
obligations under the Leases shall not constitute general obligations of the City of Pasco or
indebtedness under the Constitution or laws of the State.
Resolution — Lease with PNC Bank - 1
Section 5. This Resolution shall take effect immediately upon its adoption and approval.
the City Council of the City of Pasco, Washington this 5th day of July, 2022.
Blanche Barajas
Mayor
ATTEST:
1
Debra Barham, CMC
City Clerk
Resolution — Lease with PNC Bank - 2
APPROVED AS TO FORM:
Kerr F son Law, PLLC
Ci ttorneys
CERTIFICATION
I, the undersigned, City Clerk of the City of Pasco, Washington (the "City"), hereby certify as
follows:
1. The attached copy of Resolution No. L4 k 118, (the "Resolution") is a full, true and correct
copy of a Resolution duly adopted at a regular meeting of the City Council of the City of Pasco
held at the regular meeting place thereof on as that Resolution appears on the
minute book of the City; and the Resolution will be in full force and effect immediately following
its adoption; and
2. A quorum of the members of the City Council was present throughout the meeting and a
majority of the members voted in the proper manner for the adoption of the Resolution.
IN WITNESS WHEREOF, I have hereunto set my hand this day of 2022.
Notary Public
State of Washington
KRYSTLE LYNN SHANKS
MY COMMISSION EXPIRES
January 5, 2024
Commission # 157246
Resolution — Lease with PNC Bank - 3
CITY OF PASCO, WASHINGTON
Krystle §hanks, CMC
Deputy City Clerk