HomeMy WebLinkAboutR-2010-067 TD Equipment Financing for Fire Equipment RESOLUTION NO. 2010-067
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, AUTHORIZING THE MAYOR, CITY MANAGER AND
OTHER APPROPRIATE CITY STAFF MEMBERS TO EXECUTE
NECESSARY LOAN CLOSING DOCUMENTS WITH TD EQUIPMENT
FINANCING TO SECURE $1.896 MILLION FIRE EQUIPMENT LOAN
FINANCING AS PLANNED AND APPROVED IN THE CITY BUDGET;
PROVIDING FOR CONFLICTS, FURTHER, PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City Administration identified a need to obtain loan financing for
equipment loan financing for the purchase of two (2) Fire rescue ladder trucks in an amount of
$1,895,599; and
WHEREAS, a proposal solicitation was prepared and issued by the City requesting
proposals from interested and qualified lending institutions; and
WHEREAS, on March 31, 2010, varying proposals were received that were evaluated
by the City's financial consultant resulting in a recommended award for the equipment financing
proposal to TD Equipment Financing;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the foregoing findings are incorporated by reference and made a part
of this Resolution.
Section 2. That the City Commission authorizes and directs the Mayor, City Manager
and appropriate City staff to review and execute final equipment loan documents with TD
Equipment Financing to obtain Fire Equipment Loan financing totaling $1,895,599.00
Section 3. That costs incurred by the City for this loan financing agreement may be
paid from the City's net loan proceeds.
Section 4. That all resolutions or part of resolutions in conflict with any of the
provisions of this Resolution are repealed.
Section 5. That this Resolution shall become effective immediately upon its passage
and adoption.
PASSED AND ADOPTED on April 27, 2010.
102
P�.5 FIRST Cypr /ill 0 e-
o�' — C. K. McELYEA
ATTEST: m� MAYOR-COMMISSIONER
LOUISE STILSON, CMC
CITY CLERK
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APPROVED AST AND CORRECTNESS:
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THO ASJ NSB O
CITY ATTORNEY
2 RESOLUTION#2010-067