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Home My WebLink AboutOrdinance 540 Fire Trucks ORDINANCE NO. 540 AN ORDINANCE AUTHORIZING THE LEASING AND ACQUISITION OF PREVIOUSLY PURCHASED EMERGENCY ONE FIRE TRUCKS FOR CITY PURPOSES; PROVIDING FOR DEFINITIONS AND FINDINGS; AUTHORIZING THE CITY TO TRANSFER TITLE TO CERTAIN PROPERTY OF THE CITY TO A LESSOR; AUTHORIZING LEASE-PUR- CHASE AGREEMENTS WITH LESSORS; PROVIDING CERTAIN REQUIREMENTS RELATING TO SUCH LEASE- PURCHASE AGREEMENTS; PROVIDING THAT THE OBLI- GATION OF THE CITY UNDER SUCH LEASE-PURCHASE AGREEMENTS DOES NOT CREATE A GENERAL DEBT OR OBLIGATION OF THE CITY OR THE STATE BUT SHALL BE PAYABLE FROM LEGALLY AVAILABLE REVENUES APPROPRIATED FOR SUCH PURPOSE; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE MAYOR AND CITY COMMISSIONERS OF THE CITY OF WINTER SPRINGS, FLORIDA: SECTION 1. DEFINITIONS When used in this Ordinance, the following terms shall have the following meanings unless the context clearly otherwise requires: "Available Revenues" shall mean all ad valorem and non-ad valorem revenues of the City which are legally available to make lease payments. "City Commission" shall mean the City commission of the City of Winter springs. "City" shall mean the City of Winter Springs, Florida, a municipal corporation of the State of Florida. "Lease" shall mean a lease-purchase agreement which may be entered into between the City and a Lessor in accordance with the terms hereof and of the resolution of the City commission approving the same. "Lessor" shall mean an entity which acts as lessor of a Project or Projects pursuant to the terms of a Lease. "Obligations" shall mean any certificates or other obligations evidencing the obligations of the City under the Lease. 1 "Prior Use Property" shall mean property owned or leased by the City which is purchased by a Lessor and leased to the City pursuant to the terms and provisions of a Lease. "Project" shall mean the two Emergency One Fire Trucks acquired by the City on December 2, 1992, to be purchased by, or on behalf of, a Lessor and leased to the City pursuant to the terms of a Lease. The words "herein", "hereunder", "hereby", "hereto", "hereof", and any similar terms shall refer to this Ordinance. Words importing the singular number include the plural number, and vice-versa. SECTION 2. FINDINGS The city commission hereby finds and determines that: (a) The City has previously acquired the Project. (b) The city has been advised by its financial advisor that the most efficient and cost effective method of funding the acquisition of the Project is by entering into a lease-purchase agreement which results in interest payable as part of the lease payments thereunder being treated as "tax-exempt" for federal income taxation purposes. (c) Lease payments shall be payable from Available Revenues of the City during such time as a Lease is in effect. The City may, at its option, terminate a Lease prior to each fiscal year. The City shall never be required to use any ad valorem taxes for the payment of Lease obligations, except as otherwise provided herein. SECTION 3. PURCHASING AND LEASING OF PROPERTY The City commission is hereby authorized and empowered: (a) to acquire by lease-purchase the Project, upon such terms and for such lease payments as can be agreed upon between the City Commission and a Lessor; (b) to establish, organize and appoint members or directors of Lessors for the purpose of acquiring, constructing and install- ing the Project, and to lease-purchase such Project pursuant to the terms and provisions of a Lease or Leases; (c) to sell or otherwise transfer title to Prior Use Property to a Lessor for such consideration as shall be deemed appropriate by the City and in accordance with applicable law, and to lease- 2 purchase such Prior Use Property from such Lessor pursuant to the terms and provisions of a Lease or Leases; (d) to permit a Lessor or its assigns to enter upon the property of the city for the purpose of taking and selling, reletting or otherwise disposing of the same in the event the City fails to appropriate sufficient Available Revenues to make the lease payments or otherwise defaults under the corresponding Lease; (e) to enter into such arrangement as it deems appropriate with a Lessor in order that interest payments due under the Lease will be treated as "tax-exempt" pursuant to applicable rulings and regulations of the Internal Revenue Code of 1986, as amended, and the United states Treasury; SECTION 4. LEASES The city commission is hereby authorized and empowered to prepare, execute and deliver a Lease or Leases, pursuant to the terms and provision of which the City shall lease-purchase the Project from one or more Lessors. Any Lease entered into between the city and a Lessor: (a) shall provide that payments due under such Lease as rent or otherwise shall be made from Available Revenues of the City budgeted and appropriated by the City commission for such purpose and shall not constitute an indebtedness of the City within the meaning of any constitutional, statutory or charter provision or limitation; (b) shall set forth the term of the lease-purchase of the Project (which term shall not exceed the average useful life of the Project subject thereto), the amount of lease payments to be made by the City in respect thereof, the due dates for such lease payments, and such other terms and provisions as may be approved by the City Commission; (c) shall set forth the term or renewal terms, if applicable, of such Lease, provided such Lease may be terminated at the end of each fiscal year by the City in the event the City commission does not appropriate sufficient Available Revenues to make the lease payments for the next succeeding fiscal year; (d) shall provide that the failure of the City commission to make annual appropriations for or otherwise renew or extend the initial term or any renewal term of such Lease shall not require the payment of any penalty nor constitute a default by the City under such Lease; (e) may provide that the title to the Project leased pursuant to such Lease shall remain in the Lessor until such time as the 3 Project is acquired by the City or is otherwise disposed of in accordance with the terms of such Lease; (f) may provide that the lease payments to be made by the City shall not be subject to set-off or abatement; (g) may provide that the City may act as agent of the Lessor in acquiring, constructing and installing the Project; (h) may provide such remedies to the Lessor as may be available under Florida law in the event of non-appropriation or default under such Lease, including the ability of the Lessor to reclaim possession of the Project and sell, re-let or otherwise dispose of it; and (i) may set forth such other terms and provisions as the City and Lessor shall deem appropriate. SECTION 5. ISSUANCE OF OBLIGATIONS (a) The City commission shall have the power to issue Obligations to evidence its obligation under the Lease. (b) The Obligations shall be payable from payments made under a Lease, proceeds of the Obligations and moneys derived from the remedies exercised in the event of non-appropriation or default. The obligations shall not constitute a direct obligation of the City and shall be payable solely from the moneys provided therefor, as provided in section 6, hereof. SECTION 6. OBLIGATIONS NOT DEBT OF CITY Any Obligations issued shall not be deemed to constitute a debt of the city or a pledge of the faith and credit of the City, but such Obligations shall be payable solely from sources provided in the Lease relating thereto. The obligation of the City to make payments under a Lease is a limited and special obligation, subject to annual appropriation of the City from Available Revenues. SECTION 7. ALTERNATIVE METHOD This Ordinance shall be deemed to provide an additional and alternative method for the doing of the things authorized hereby and shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers now existing or which may hereafter come into existence. This Ordinance, being necessary for the welfare of the inhabitants of the City, shall be liberally construed to effect the purposes thereof. 4 LAW OFFICES HONIGMAN MILLER SCHWARTZ AND COHN 390 NORTH ORANGE AVENUE SUITE 1300 ORLANDO, FLORIDA 32801- 2448 MICHAEL 0, WILLIAMS TELEPHONE (407) 648-0300 TELECOPIER (407) 648-1155 WEST PALM BEACH, .LORIDA TAMPA, FLORIDA DETROIT, MICHIGAN LANSING, MICHIGAN HOUSTON, TEXAS LOS ANGELES, CALIFORNIA January 8, 1993 Ms. Mary Norton City Clerk City of Winter Springs 1126 East State Road 434 Winter Springs, FL 32708 Re: City of Winter Springs, Equipment Lease Purchase Dear Mary: Please find enclosed the execution copy of the Fire Truck Equipment Lease Ordinance. It is my understanding that the city commission will have a second reading of this Ordinance at the meeting of January 11, 1993. If you have any questions concerning the enclosed, please do not hesitate to call. Very truly yours, Michael D. Williams MDWrsn Enclosure SECTION 8. SEVERABILITY If any provision of this Ordinance or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this Ordinance which can be given effect without the invalid provision or application and to this end the provisions of this Ordinance are declared severable. SECTION 9. EFFECTIVE DATE This Ordinance shall become effective immediately upon its adoption. ORDAINED this 11th day of January, 1993. (SEAL) CITY COMMISSION OF THE CITY OF WINTER SPRINGS, FLORIDA Mayor ATTEST: Mary T. Norton City Clerk Approved as to Form and Legal Sufficiency: First Reading 12/14/1992 Second Reading 1/11/1993 City Attorney -- - - - - - - - -- - - - - -_. -~ - --- .-- - -- -~ -- - ~---------------- in the '"F; H 1 N (11 F was published in said newspaper in the issue; of 1, ;:J I? n I q;:;; Court, NOncE OF PUBUC HEARING CITY OF WINTER SPRINGS, FLORIDA NOTICE IS HEREBY GIVEN by the ClIy Commission 01 the City 01 Winter S~ngs, Florida, the! said Commission WIll hold a Public Hearing on an ordi- nance enlilted as follows: ORDINANCE NO. 540 AN ORDINANCE AUTHORIZING THE LEASING AND ACQUISITION OF PREVIOUSLY PURCHASED EMERGENCY ONE ARE TRUCKS FOR CITY PURPOSES; PROVIDING FOR DEFINITIONS AND FINDINGS; AUTHORIZING THE CITY TO TRANSFER TITLE TO CERTAIN PROPERTY OF THE CITY TO A LESSOR; AUTHORIZING LEASE- PURCHASE AGREEMENT WITH LESSORS; PROVIDING CERTAIN REQUIREMENTS RELATING TO SUCH LEASE-PURCHASE AGREE- MENTS; PROVIDING THAT THE OBUGATION OF THE CITY UNDER SUCH LEASE-PURCHASE AGREE- MENTS DOES NOT CREATE A GENERAL DEBT OR OBUGATlON OF THE CITY OR THE STATE BUT SHALL BE PAYABLE FROM LE. GALLY AVAILABLE REVENUES AP- PROPRIATED FOR SUCH PUR- POSES; PROVIDING FOR SEVER- ABIUTY; AND PROVIDING AN EF- FECTIVE DATE. This Public Hearing will be held at 7:30 p.m. on J81lU81Y H, 111I3 or 8S soon lhereaIler as possibI8 in the C0mmis- sion Chamber, City HaM, 1126 East S. R. 434, Winter Spri~dla 32708. Copies of the ordinanCe are available in the of the ClIy Clerk for inspection. Interested pertie8 may appear at this hearing and be heard With respect to this proj)osed ordinance. PERSONS WITH. OtSABlUTIES NEED- ING ASSISTANCE TO PARTICIPATE IN ANY OF THESE PROCEEDINGS SHOULD CONTACT THE EMPLOYEE RELATIONS DEPARTMENT ADA CO. ORDlNATOR 48 HOURS IN ADVANCE OF THE MEETING AT (407)327-1800. PERSONS ARE ADViSeD THAT IF THEY DECIDE TO APPEAL Nrf DECI-- SION MADE AT THIS MEETINGSI HEARINGS, THEY WILL NEED A RE- CORD OF THE PROCEEDINGS AND FOR SUCH PURPOSE, THEY MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED, PER &ECTION 286.0105 FLOR- IDA STATUTES. Dated this 20lh day of December, 1992. CITY OF WINTER SPRINGS, FLORIDA ~.aryc~orton SLSCG63~14 \ The Orlando Sentinel Published Da~'t4. 23 ~tatt of jflortba } 5.5. COUNTY OF ORANGE Before the undersigned authority personally appeared MarTs Lynn McKp-n7 ie, who on oath says that he she is the Legal Advertising Representative of The Orlando Sentinel, a dally newspaper published at ( fit 5 5E l ;:; t Rp y in '5 E WI N n I E County, Florida; that the attached copy of advertisement, being a N {j T T C F n F ? u b LIe n in the matter of flR rn NANC f :;;~14 f; Affiant further says that the said Orlando Sentinel is a newspaper published at ( A'".; F j f. FR xl' ' in said ')":N r tJ fa f- County, Florida, and that the said newspaper has heretofore been continuously published in said SEM I1\ICLE County, Florida, ea~h ,!"ee,k Day an9 ~~sbeen entered as second-class mail matter at th~ po?t office In CA5~i:::Ldi.:.RKY In said 5fMINCLE County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he/she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. ~"1?1 . The Imegoing inslmmenl was aok~el'Y::::::;h;s ~y 01 December ,19--92, by Mary Lynn Mr.Kp-n7ip- who is personally known to me and 0 did take an' ath. (SEAL) Dec.20,1992 Juanita Rosado Notary P J-,'j.". State of Florida My CODIC; "n eJ<pire~ June 18. 19M Commission # CC022902