1017 Financing for Police Vehicles
Form of Authorizing Ordinance
Ordinance No. 1017
Authorization for the acquisition of personal property and execution of a
financing contract and related documentation relating to the acquisition of said
PERSONAL PROPERTY
.
WHEREAS, the City of Yelm (the “Local Agency”) has executed a Notice of Intent to the Office of State
Treasurer, in the form of Exhibit A (the “NOI”) to the form of Local Agency Financing Contract attached hereto (the
“Local Agency Financing Contract”), in relation to the acquisition of and the financing of the acquisition of the Property, as
defined below, under the provisions of RCW ch 39.94; and
WHEREAS, it is deemed necessary and advisable by the City of Yelm of the Local Agency that the Local Agency
acquire the equipment and/or personal property identified in the NOI (the “Property”); and
WHEREAS, it is deemed necessary and advisable by the City of Yelm of the Local Agency that the Local Agency
enter into the Local Agency Financing Contract with the Office of the State Treasurer in an amount not to exceed $99,00,
plus related financing costs, in order to acquire the Property and finance the acquisition of the Property;
WHEREAS, the Local Agency will undertake to acquire the Property on behalf of and as agent of the Washington
Finance Officers Association (the “Corporation”) pursuant to the terms of the Local Agency Financing Contract, and in
accordance with all applicable purchasing statutes and regulations applicable to the Local Agency; and
WHEREAS, the Local Agency desires to appoint the individuals set forth in Exhibit C to the form of Local Agency
Financing Contract as the representatives of the Local Agency in connection with the acquisition of the Property and
execution of the Local Agency Financing Contract (each an “Authorized Agency Representative”);
NOW, THEREFORE, BE IT ORDAINED, by the Council of the City of Yelm as follows:
Section 1
. The individuals holding the offices or positions set forth in Exhibit C to the form of Local Agency
Financing Contract are each hereby appointed as a representative of the Local Agency in connection with the acquisition of
the Property and execution of the Local Agency Financing Contract and all other related documents. A minimum of 2
Authorized Agency Representatives shall be required to execute any one document in order for it to be considered duly
executed on behalf of the Local Agency.
Section 2
. The form of the Local Agency Financing Contract attached hereto is hereby approved and the
Authorized Agency Representatives are hereby authorized and directed to execute and deliver the Local Agency Financing
Contract, in an amount not to exceed $99,000, plus related financing costs, and in substantially the form attached hereto
with such changes as may be approved by the Authorized Representatives, for the acquisition of the Property and financing
of the acquisition of the Property.
Section 3
. The Local Agency hereby authorizes the acquisition of the Property as agent of the Corporation in
accordance with the terms and provisions of the Local Agency Financing Contract.
Section 4
. The Authorized Representatives are hereby authorized to execute and deliver to the Office of State
Treasurer all other documents, agreements and certificates, and to take all other action, which they deem necessary or
appropriate in connection with the financing of the Property, including, but not limited to, any amendment to the NOI and
agreements relating to initial and ongoing disclosure in connection with the offering of securities related to the financing.
th
Section 5
. This ordinance shall become effective January 10, 2017.
PASSED by the Council of the City of Yelm, at a regular meeting thereof held this 10th day of January, 2017.
[ S E A L ] APPROVED:
ATTEST:
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Attachment
Form Of Local Agency Financing Contract