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2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-100-09 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER <br />EQUIPMENT LEASE-PURCAHSE AGREEMENT WITH PNCEF, <br />LLC, DBA PNC EQUIPMENT FINANCE, AS LESSOR, AND <br />SEPARATE LEASE SCHEDULES THERETO FOR THE <br />ACQUISTION, PURCHASE, FINANCING AND LEASING OF <br />CERTAIN EQUIPMENT WITHIN THE TERMS HEREIN <br />PROVIDED; AUTHORIZING THE EXECUTION AND DELIVERY <br />OF OTHER DOCUMETNS REQUIRED IN CONNECTION <br />THEREWITH; AND AUTHORIZING ALL OTHER ACTIONS <br />NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS <br />CONTEMPLATED BY THIS RESOLUTION <br />WHEREAS, City of Colton (the "Lessee "), a body politic and corporate duly <br />organized and existing as a political subdivision, municipal corporation or similar public entity <br />of the State of California is authorized by the laws of the State of California to purchase, <br />acquire and lease certain equipment and other property for the benefit of the Lessee and its <br />inhabitants and to enter into contracts with respect thereto, and; <br />WHEREAS, the governing body of the Lessee (the "Board") has determined that a <br />true and very real need exists for the acquisition, purchase and financing of certain property <br />consisting of Digger Derrick Electric Lien Trucks (collectively, the "Equipment ") on the terms <br />herein provided, and; <br />WHEREAS, in order to acquire such Equipment, the Lessee proposes to enter into that <br />certain Master Equipment Lease -Purchase Agreement (the "Mater Lease ") with PNCEF, LLC, <br />dba PNC Equipment Finance, as lessor (the "Lessor"), substantially in the proposed form <br />presented to the Board at this meeting, and separate Lease Schedules thereto substantially in <br />the form attached to the Master Lease; and <br />