HomeMy WebLinkAbout01-57 - Financing of Siemens Building Technologies Performance Services AgreementRESOLUTION NO. 0/ - r5- 7
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, AUTHORIZING THE LEASE
WITH OPTION TO PURCHASE #01 -073 -AF FOR THE
FINANCING OF THE SIEMENS BUILDING TECHNOLOGIES
PERFORMANCE SERVICES AGREEMENT.
WHEREAS, on May 21, 2001, the City Council of the City of Costa Mesa
authorized the City Manager to execute a ten-year performance contract with
Siemens Building Technologies Inc. to complete installation, retrofit, and
maintenance of necessary equipment to yield a self -funding, energy-saving upgrade
to HVAC and lighting systems in various City facilities; and
WHEREAS, the contract that has been negotiated and subsequently executed
requires funding for the payment of services contemplated by the contract either
directly with Siemens Building Technologies or through independent financing; and
WHEREAS, alternative financing available through Municipal Finance
Corporation is obtainable by the City at a lower interest rate than through Siemens
Building Technologies and provides the City with additional costs savings through
lower payments over the life of the financing.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Costa Mesa hereby authorizes the City Manager or his designee to negotiate and
execute the Lease with Option to Purchase and all necessary documents to obtain
the financing described in said Lease for the purposes described herein.
PASSED AND ADOPTED this 4th day of September, 2001.
ATTEST:
P" 7,
Deputy City terk of the City of Costa Mesa
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
Mayor of the City of Costa Mesa
APPROVED AS TO FORM
�- CITY ATT EY
I, MARY T. ELLIOTT, Deputy City Clerk and ex -officio Clerk of the City
Council of the City of Costa Mesa, hereby certify that the above and foregoing
Resolution No. .0 was duly and regularly passes and adopted by the said
City Council at a regular meeting thereof, held on the 4th day of September, 2001,
by the following roll call vote:
AYES: C'o U),4,0
NOES: %V0Al t
ABSENT: 17 ► XD�
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Seal of
the City of Costa Mesa this 5th day of September, 2001.
Deputy Cit Clerk and ex -officio Clerk of
the City Council of the City of Costa Mesa