HomeMy WebLinkAbout1995-022 Equipment Lease-ParksASSOCIATES COMMERCIAL CORPORATION
A SUBSIDIARY OF ASSOCIATES CORPORATION OF NORTH AMERICA
February 21, 1995
Mr. Kenneth J. Mickelsen
Director of Parks & Recreation
City of Ashland
340 S. Pioneer Street
Ashland, OR 97520
COP"(
Subject: Equipment Lease/Purchase Agreement #18877
Dear Mr. Mickelsen:
The Lease/Purchase Agreement documents for the equipment being acquired from
Cascade Golf Cars are enclosed. Please review the following documents for
accuracy, execute where indicated, then return along with payment (if required) to
the address below:
· Lease/Purchase Agreement - Please execute where indicated by red "X".
Opinion of Counsel - Please have your attorney execute where indicated by red
· Schedule A, Page 1 - Please execute where indicated by red "X".
· Schedule A, Page 2 - Payment Schedule - Please initial.
Delivery and Acceptance Certificate(s) - Please indicate the date the equipment
was accepted by you and execute where indicated by red "X".
· Temporary Insurance Form - Complete and return with the documents.
· UCC-1 - Please execute where indicated by red "X".
Incumbency Certificate - Please have the same individual who executed the
Lease/Purchase Agreement execute by red "X" across from their name and
title. Then have the "Keeper of the Record," ,such as the Secretary/Clerk,
execute by blue "X" as a witness to the authorized signature (this person must
be someone other than the authorized official who signed the documents).
8038-GC - Please review for accuracy and execute where indicated.
Executive Offices: 300 E. Carpenter Freeway, Irving, Texas 75062, 214-541-3313
Mailing Address: P.O. Box 650363, Dallas, Texas 75265-0363
Page 2
February 21, 1995
Please return all of the documents with original sionRt,JrP..~ tO me at:
Associates Commercial Corporation
300 East Carpenter Freeway
Irving, Texas 75062-2726
I have submitted a request for a coupon book which will be sent to you shortly.
If you have any questions, please call me at (214) 541-3313. Thank you for doing
business with The Associates.
Sincerely,
Lisa Jenkins
Senior Staff Assistant
Enclosures
ASSOCIATES COMMERCIAL CORPORATION, MUNICIPAL FINANCING
SCHEDULE A
Lessee:
Lease Number:
Interest Rate:
City of Ashland, OR
18877
6.57 %
Amount Funded:
$44,010.00
Lease
Payment
Number
Lease
Payment Lease
Date Payment
Interest
Portion
Principal
Portion
Concluding
Payment
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
2O
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
24 -
24-
24-
24 -
24 -
24.-
24 -
24 -
24-
24-
24-
24 -
24 -
24 -
24-
24-
24 -
24 -
24 -
24 -
24 -
24-
24 -
24-
24 -
24-
24-
24-
24 -
24 -
24 -
24-
24-
24-
24-
24 -
24 -
Mar-95 $1
Apr-95 $1
May-95 $1
Jun-95 $1
Jul-95 $1
Aug-95 $1
Sep-95 $1
Oct-95 $1
Nov-95 $1
Dec-95 $1
Jan-96 $1
Feb-96 $1
Mar-96 $1
Apr-96 $1
May-96 $1
Jun-96 $1
Jul-96 $1
Aug-96 $1
Sep-96 $1
Oct-96 $1
Nov-96 $1
Dec-96 $1
Jan-97 $1
Feb-97 $1
Mar-97 $1
Apr-97 $1
May-97 $1
Jun-97 $1
Jul-97 $1
Aug-97 $1
Sep-97 $1
Oct-97 $1
Nov-97 $1
Dec-97 $1
Jan-98 $1
Feb-98 $1
Mar-98 $1
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
045.12
$240.95
$236.55
$232.13
$227.67
$223.20
$218.70
$214.17
$209.62
$205.05
$200.45
$195.83
$191.18
$186.50
$181.80
$177.07
$172.32
$167.54
$162.74
$157.91
$153.05
$148.16
$143.25
$138.32
$133.35
$128.36
$123.34
$118.29
$113.22
$108.12
$102.99
$97.83
$92.64
$87.43
$82.18
$76.91
$71.61
$66.28
$804.17
$8O8.57
$812.99
$817.45
$821.92
$826.42
$830.95
$835.50
$640.07
$844.67
$649.29
$853.94
$858.62
$863.32
$868.05
$872.80
$877.58
$882.38
$887.21
$892.07
$896.96
$901.87
$906.80
$911.77
$916.76
$921.78
$926.83
$931.90
$937.00
$942.13
$947.29
$952.48
$957.69
$962.94
$968.21
$973.51
$978.84
$43,205.83
$42,397.27
$41,584.27
$40,766.83
$39,944.90
$39 118.48
$38 287.54
$37 452.04
$36 611.97
$35 767.30
$34 918.01
$34 064.06
$33 205.44
$32 342.12
$31 474.08
$30,601.28
$29,723.70
$28,641.32
$27,954.10
$27,062.03
$26,165.08
$25,263.21
$24,356.41
$23,444.64
$22,527.88
$21,606.10
$20,679.27
$19,747.37
$18,810.37
$17,868.23
$16,920.94
$15,968.46
$15,010.77
$14,047.83
$13,079.63
$12,106.12
$11,127.28
ASSOCIATES COMMERCIAL CORPORATION, MUNICIPAL FINANCING
SCHEDULE A
Lessee:
Lease Number:
Interest Rate:
City of Ashland, OR
18877
6.57 %
Amount Funded:
$44,010.00
Lease
Payment
Number
Lease
Payment Lease
Date Payment
Interest
Portion
Principal
Portion
Concluding
Payment
38
39
40
41
42
43
44
45
46
47
48
24 -
24-
24-
24-
24 -
24-
24 -
24 -
24 -
24 -
24-
Apr-98
May-98
Jun-98
Jul-98
Aug-98
Sep-98
Oct-98
Nov-98
Dec-98
Jan-99
Feb-99
$1 045.12
$1 045.12
$1.045.12
$1 045.12
$1 045.12
$1 045.12
$1 045.12
$1 045.12
$1,045.12
$1,045.12
$1,044.93
$60.92
$55.53
$50.12
$44.67
$39.19
$33.68
$28.15
$22.58
$16.98
$11.35
$5.69
$984.20
$989.59
$995.00
$1,000.45
$1 ,OO5.93
$1,011.44
$1,016.97
$1,022.54
$1,028.14
$1,033.77
$1,039.24
$10,143.08
$9,153.49
$8,158.49
$7,158.O4
$6,152.11
$5,140.67
$4,123.69
$3,101.15
$2,073.01
$1,039.24
$1.00
Totals $50,165.57 $6,155.57 $44,010.00
INSURANCE FACT SHEET
We are in need of a Certificate of Insurance for the Municipality listed below.
complete this form and return to the following:
Associates Commercial Corporation
300 East Carpenter Freeway
Irving, Texas 75062-2726
ATTN: Ed Pletzke
(214) 541-3313
Please
TRANS NO:
MUNICIPALITY: City of Ashland
BID:
CONTACT: Kenneth J. Mickelsen PHONE: (503) 488-5340
Bob Nelson, Risk Management
EOUIPMENTDESCRIPTION' Golf Carts - Club Car- Gasoline Model
Pooled Self-Insurance:
-P;A,1;~NT INSURANCE COMPANY: City - County Insurance Services Trust
ADDRESS: 1212 Court Street N.E., Suite 301
CITY.Salem STATE: Oregon ZIP: 97301
PHONE: (503) 585-1121
UNDERWRITER/AGENT COMPANY:
None
ADDRESS:
N/A
CITY: N/A STATE: N/A ZIP: N/A
CONTACT: N/A PHONE: N/A
POLICY NO: 94-L-ASH EXPIRATION DATE: June 30, 1997
PUBLIC LIABILITYAMOUNT: $1 000 000 $50,000 annual aggragate
' ' DEDUCTIBLE: which the city self-
insures
Replacement
PHYSICAL DAMAGE AMOUNTS: COMPREHENSIVE: value DEDUCTIBLE: $ 5,000 self
insured by the city
PHYSICAL DAMAGE AMOUNTS: COLLISION: $100,000 plus DEDUCTIBLE: $500
INDICATE IF SELF-INSURED; OR IF POLICY IS CONTINUOUS:
$1~000,000 *Self Insured
SELF-INSURED FOR:* LIABILITY: PHYSICAL DAMAGE: BOTH:
CONTINUOUS UNTIL END OF LEASE/PURCHASE AGREEMENT:. YES: NO:
iNS~FACT.FRM *In addition to pooled self - insurance
SCHEDULE A
EQUIPMENT DESCRIPTION
Lease No. 1RR77
This Schedule A is executed by Associates Commercial Corporation ("Lessor") and City of
Ashland, OR ("Lessee"), as a supplement to, and is hereby attached to and made a part of that
certain Equipment Lease-Purchase Agreement dated as of February 22, 1995
("Lease"), between Lessor and Lessee.
Lessor hereby leases to Lessee under and pursuant to the Lease and Lessee hereby leases
from Lessor under and pursuant to the Lease the following items of Equipment:
QUANTITY DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.) SUPPLIER
Club Cars - Gasoline Model AG9530 S/N's 447555 thru 447569
15
Cascade Golf Cars
2045 N.E. Highway 20
Bend, OR 97701
EQUIPMENT LOCATION: Oak Knoll Golf Course
Initial Term:
Periodic Rent:
interest), followed by one final payment of $ 1,0.~.~...q.~
this Lease.
4R Months Commencement Date: Fe.hnmry 2zt, 1.q.qR
Expiration Date: Fehrtmry 24, 1.q.q.q
47 Consecutive monthly Payments of $ 1,C~45.17 each (including
plus any and all other payments due under
Dated: February 22, 1995
Kenneth ~ Mickelsen
Di rec r
T~TLE: ~
LESSOR: A.~soc. iRte..~ ~nmme.rc.i~l ~orpnr~tir)n
BY:
Edward F. Pletzke, II
TITLE: Vice. Pre..~ide.nt
Page I of 2
SCHAEQ1 .MRG
038-GC
!'.~,~el Reporting Authority
I~uer$ n~
CITY OF ASHLAND
Nun'~er an~ s~ (~ P,~ ~x ~f ~ ~S ~t ~ to sfr~ ~
~ly. tO~. S~te. ~ ZiP C~e
AS~AND O~ g7~20
/~idell Oescri~ofi of Obligm~ons
Information Return for Small Tax-Exempt
Governmental Bond Issues, Leases, and Installment Sales
1, Under Iraemil Revenue Cocle section 149(e) I, For calendar year ending 19 .....
0~9 No.
Form 8039-0 If the i~ue price of t~e issue tl $100.000 or ~.)
Chect~ Dox if Amen(led Return
93 ! 6001310
Issue pnce of small tax*exempt governmental obligations reported on ~is form
Check the box that most nearly approximates the weighted average matunty of the ob#gation(s):
[] Less than 5 years
I
)~] From 5 to 10 year~
[] More tl'~n 10 years
Checl( the box tha~ most neatfly approximates the weightea average interest rate on tt~
o~igation(s):
~ Less titan 5%
[] From 5% to 10%
[] More than 10%
Totai issue I~Ce of t.e obligation(s) reported on line 5 that is/am:
a Obligation(s) issued ~ tl~ form of a lease or installment ssJe ............
b O~igation($) ~esignated by t!'m i~u®r un~er section 265(bX3XBXIXIII) .........
c Ol:digatior~s) issued to ~ I:)dor issues ..................
d Loans macle from the proceeds of another tax*exem~ obligation ..........
$44,{910.00
$44,010. O0
g
Please
Sign
Here
General Instructions
Check I~x if issuer ~ elected to pay · I;)enlJty in lieu of t'eC~e ................... []
· (v}~):.~"~!/.~ ~f~February 22,[.99~Kenneth J. M ickelsen
r ~~{~ ~ r"~~~~ Director
(Section references are to U~ Inferr~l
Revenue Code unlesS o~ ~)
Pa~k Redu~ A~ N~
we ~ f~ ~ inf~ ~ ~ ~ ~
inf~. We ~ ~ ~ ~ ~ ~ ~
f~ v~ ~ ~ i~
~~ .... 1 m., ~ m~.
p~~ . 2 ~., ~ ~.
Oop~n~ ~~ ~
~ng ~ ~ to ~ I~ 16 ~.
If~~C~l,'~
of IVlenegement end Budget.
R~mc~Jon ~ (~0~.
~ 2~. O0 NOT ~ ~ ~
~2,
P~H of F~
F~~C~~d
~iq~_ ,~1~ ~ e 141 ~ 1~,
~ Mu~ R~
$1~,~ ~ ~ F~ ~.
~ig r~,
m ~ price ~ le~ tna~ S100.000.
INCUMBENCY CERTIFICATE
I do hereby certify that I am the duly ejected or appointed and acting Secretary/Clerk of
/~ Ci.~ty o f As h I a n d ("Lessee"), a body corporate and politic duly organized and existing
under the laws of the State of,~ Oregon that I have custody of the records of Lessee, and
that, as of the date hereof, the individuals named below are the duly elected or appointed officers
of Lessee holding the offices set forth opposite their respective names. I further certify that (i) the
signatures set forth opposite their respective names and titles are their true and authentic
signatures, and (ii) such officers have the authority on behalf of Lessee to enter into that certain
Equipment Lease-Purchase Agreement dated or to be dated February 22,1995
, between Lessee and Associates Commercial Corporation.
~ ~ RI~NATI IRF
Kenneth J. Mickel~n Director
Allen Alsing ~
Patricia Adams
Commissioner
Commissioner
IN WITNESS WHEREOF~! hiave duly executed this Certificate and affixed the seal of Lessee
hereto this/~ day of
SEAL
INCU-CER.FRM
LESSEE: ~ity of AshlRnd, OR
(Person who has knowledge that the person alcove is authorized to sign the documents)