HomeMy WebLinkAboutFinancial Pacific Leasing, Inc. aka Golden State 2020-01-27 (2)Exhibit A
GOLDEN STATE
FIRE APPARATUS
1 7400 Reese Road, Sacramento. CA 95828 1 Office 916.330.1638 1 Fax 916.330.1649
SOLD TO:
Financial Pacific Leasing, Inc.
DBA Umpqua Bank Equipment Leasing & Finance
3455 S. 344th Way, Suite 300
Federal Way, WA 98001
SHIP TO:
City of Ukiah
1320 Airport Rd
Ukiah, CA 95482
FINAL INVOICE
Date
Invoice #
Your Order #
Our Order #
Terms
1/27/2020
89765
45813
14480
(VIN#
1 FDOW5HT1 KEG07746)
PAYMENT TO
BE MADE
PRIOR TO
FINAL
DELIVERY
•
A
One (1) 2019 Skeeter Brush Truck, LLC Type 5 Engine
215,373.46
B
Discount for HGAC contract FS12-17, Product Code YB03
(6.273.01)
C
ADD CHANGE ORDERS APPROVED 7/9/19
:57.00)
D
SUBTOTAL
209.043.45
E
State Sales Tax @ 8.875%
18,552.61
F
California Tire Fee
10.50
G
GRAND TOTAL / AMOUNT DUE GOLDEN STATE
227,606.56
FUNDING REQUEST
Financial Pacific Leasing, Inc., DBA
Umpqua Bank Equipment Leasing & Finance
3455 South 344th Way Suite 300
Federal Way, WA 98001
Dear Sir or Madam,
We hereby notify and authorize Financial Pacific Leasing, Inc. DBA Umpqua Bank Equipment Leasing &
Finance to issue payment in the amount of $227,606.56 to Golden State Fire Apparatus for Invoice Number
89765 as reflected in the attached Exhibit A.
Lessee: City of Ukiah
By: X
Print Name: Sage Sangiacomo
Title: City Manager
Date: 5 -
UBELF-F R -MUNI -022217A
F,nanual Pacific Leasing Inc. doing business as Umpqua Bark Equpmenl Leasrng 8 Finance Is a subsrdbary of Umpqua Bank
Products of/erect Dy Finanual Paufic Leasng. Inc.. are not FDIC msureO
1
® UMPQUA BANK Equipment Leasing and Finance
AUTHORIZATION FOR DIRECT PAYMENTS (ACH Debits)
Company Name: City of Ukiah
Contract #: 013-1374627-002
I (we) authorize Financial Pacific Leasing, Inc. dba Umpqua Bank Equipment Leasing and Finance, or its assigns, to
automatically withdraw from the financial institution shown on the attached voided check any and all sums due in connection
with the contract identified above. The undersigned authorizes the debit of all payments as well as debit entries for charges
where the amount and time frame varies, including, but not limited to insurance, tax, NSF and late fee payments.
I (we) confirm I (we) are authorized to sign on behalf of the debtor and bind the company to this agreement. I (we) acknowledge that
the origination of ACH transactions to my (our) account must comply with the provisions of U.S law. I (we) also acknowledge that the
Company may assign the account to a third party and that assignee may then Initiate debit entries pursuant to this authorization.
This authorization is to remain in full force and effect until the contract is paid in full Contact our Customer Service Department at
service@finpac.com or 800-447-7107 at least FIVE (5) business days prior to the due date to make any changes or modifications. This
agreement may. at the Company's discretion. be suspended at any time
To view your monthly invoice, go to fastpay.finpac.com to register.
No written notice will be forwarded.
BY:-‘
NAME SAGE SANGIACOMO, CITY MANAGER
DATE 2/2. S/P,/�
PHONE NUMBER 702, 4 3 (02 fl
EMAIL ADDRESS ssangiacomo@cityofukiah.com
PLEASE ATTACH A COPY OF A VOIDED CHECK
THIS DOCUMENT MAY BE SIGNED IN COUNTERPARTS AND TRANSMITTED ELECTRONICALLY
WITH THE SAME FORCE AND EFFECT AS DELIVERY OF AN ORIGINAL.
UBELF-ACM0.12-5.18 Financial Pacific Leasing Inc dba Umpqua Bank Equipment Leasng and Finance is a subsdiary of Umpqua Bank
Products offered by Financial Pacibc Leasng Inc. are not FDIC Insured
1
Confidentiality:
Authorization:
2) Anticipated borrowing for 2019 will not exceed $ 10,000,000, making
the lease "Bank Qualified" under section 265(b)(3) of the IRS Code.
3) Lessee is a state or political subdivision thereof, within the meaning of
Section 103 of the Internal Revenue Code of 1983.
4) Lessor shall receive an Opinion from Lessee's counsel stating that the
lease qualifies for tax-exempt financing under IRS guidelines and the
Opinion must reference #2 and #3 above.
Except as required by law, neither the proposal nor its Terms and Conditions
will be disclosed publicly or privately except to those individuals who are your
officers, employees or advisors who have a need to know as a result of being
involved in the proposed financing. The foregoing confidentiality provisions
shall not apply to the disclosure of the federal income tax structure or treatment
of the proposed financing.
Lessee [and each Guarantor] acknowledges and agrees that Lessor may furnish
all Lessee [and Guarantor] presented information, financials, analysis, and related
credit and review materials to its employees, counsel and agents as well as its
participants and assigns. Lessee [and cach Guarantor] authorize Lessor to
contact Umpqua Bank, and all trade suppliers and other references of Lessee [and
Guarantor], and to order any and all credit checks and investigative reports, all as
Lessor deems necessary in connection with the evaluation of the transaction.
This proposal is for discussion purposes only, and is only a general, non-binding proposal on the part of
Lessor.
UWe have reviewed the above Terms and Conditions and request the Lessor to pursue underwriting
and approval of a commitment for the described lease agreement.
2V,
Accepted thisy day of 61+6'T, 2019
City of Ukiah
By:
Printed Name:
Title:
USELF-IPMUNI.16-10. 18 FvenotY Peak Lsanng, Inc . goo' tweets' as Umpqua Beret Equipment Leasing 6 Fkianai, Is a suos.aery of Um,arte Bank
Products offered by F'nano,* ?abet Lasing Inc are not FDIC ins Wed
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End of Lease Options: At the end of the initial lease term, Lessee will have the option to purchase all,
but not less than all, of the Equipment for $1.00.
Expiration of Facility:
Net Lease:
Insurance:
Maintenance:
Documentation:
Costs & Expenses:
Security Deposit:
Additional Terms
& Conditions:
Takedowns shall be allowed in amounts greater than $25,000.00.
All takedowns shall occur prior to June 30, 2020 and without extension, the
facility shall expire. Lessor shall have no obligation to lease any item of
Equipment after said date.
All costs of operation, maintenance, taxes, insurance and other affiliated costs
will be paid by Lessee as this transaction has been structured as a net lease.
Lessee will provide evidence of all-risk physical damage and liability insurance
coverage in such amounts and with deductibles all as may be required by Lessor.
In addition, endorsements and assignments of such policies shall name Lessor
(and its assigns) as loss payee and/or additional insured, as may be required by
Lessor. All insurance coverage shall be from a carrier acceptable to Lessor.
Lessee shall, at its sole cost and expense, maintain the Equipment in compliance
with all statutes, laws, ordinances, regulations, standards, and directives
(including environmental) by any governmental agency and the Equipment must
be maintained in accordance with all manufacturer's suggested and
recommended maintenance procedures including preventive maintenance; and
such other maintenance and return conditions as the Lessor may require.
All legal matters and all documentation to be executed in connection with the
contemplated lease shall be satisfactory in form and substance to Lessor and
counsel to Lessor.
Lessee shall be responsible for all fees, costs and disbursements incurred by
Lessor in connection therewith, including without limitation, all fees and
disbursements of counsel to Lessor (if any), appraisal costs (if any) and all filing
and search fees. A documentation fee of $500 per lease schedule/takedown will
be payable by Lessee.
A $00000 security deposit shall be payable to Lessor upon acceptance of this
proposal. This security deposit, less all costs and expenses incurred by the
Lessor, including but not limited to documentation and attorney's fees, will be
refunded should Lessor not offer an approval for this transaction.
If an approval is extended by Lessor and accepted by Lessee, the security deposit
shall convert to an approval fee ("Approval Fee"), which would all be non-
refundable if the transaction were not consummated. If the contemplated
transaction were consummated, the Approval Fee would be refunded pro -rata
(funded amount to the Amount approved) less any costs and expenses incurred
by Lessor in connection with this transaction.
1) Any non -appropriation clause in the lease shall be satisfactory to Lessor.
UBELF-LPMUNI-1P 1a 1 a Financial Foote Leasing. Inc . doing cul ness as Umpqua Bank Equpnwa Leasing 8 Finance. is a subsidiary of Umpqua Bank
Products offered by Finance! Pacific Leasing. Inc . re not FDIC Insured
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Lessor:
Lessee(s):
Equipment Financing
Vehicle:
Equipment & Cost:
Lease Amount:
Lease Term:
Payments:
Lease Rate:
Tax Benefits:
Commencement Date:
Interim Rent:
Progress Payments:
UBELF .t PMUNI-1610.19
Terms and Conditions:
Financial Pacific Leasing, Inc., d.b.a. Umpqua Bank Equipment Leasing &
Finance, a subsidiary of Umpqua Bank or it's assigns ("Lessor")
City of Ukiah
Municipal Lease -Purchase Agreement
Various vehicles & equipment, (the "Equipment"). All Equipment shall be
satisfactory to Lessor.
Not to exceed $3,000,000.00 in the aggregate.
Ten (I 0) years
Twenty (20) payments, payable semi-annual in arrears
2.80%
The lease rate specified above is based upon the like term (10 year)
semi -bond Swap Rate sourced from Chatham Financial Market Data ("Index") at
2.05% as of 7/16/2019. Should the Index increase prior to any lease schedule
documentation and commencement, the lease rates shall be adjusted to maintain
the economic returns anticipated by Lessor.
The lease shall be considered a municipal lease/purchase and qualifies for tax-
exempt status. Lessee shall pay all fees, assessments, sales, use, property and
other taxes imposed, except those levied on the net income of Lessor by the
United States, the State of California, or other applicable jurisdiction.
It is contemplated that the Equipment will be installed and acceptable for Lease
Commencement on 8/1/2019 and/or on the first or fifteenth day of each month
thereafter.
Interim rent will be payable from the funding date to the Lease
Commencement Date at a rate equal to the Lease Rate Factor
applied on a per diem basis to the amount funded.
Lessor will consider periodically disbursing funds to various Equipment vendors
under a progress payment agreement (PPA) between Lessor and Lessee. Any
funds outstanding under the PPA shall accrue interest from the date of funding to
the lease funding date at the 30 day LIBOR rate + 350bp. Such interest shall be
calculated 15 days prior to the I't day of each month and shall be fixed for each
monthly period thereafter. Interest shall be payable on the 1" day of each month
after initial funding. No interest shall be capitalized into the Equipment cost.
Ftnenuai Peoac leasing, irc da•rp business as Umpqua Bente Equipment Leasing 8 Finances, is a substdary o Umpgla Bank
Products Owed Dy rmanoar PaaM Leasing. Inc., an not FDIC insured
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