REPORT TO THE CITY COUNCIL
FROM: SANTINO DANISI, MBA, City Controller/Finance Director
Finance Department
BY: KALEB NEUFELD, MBA, Assistant Controller/Assistant Director
Finance Department
SUBJECT
Title
Actions pertaining to executing the Master Tax Exempt Equipment Lease Purchase Agreement
1. Affirm the City Manager's determination that Banc of America Public Capital Corp (BAPCC, LLC), which falls under Bank of America, is Uniquely Qualified
2. ***RESOLUTION - Authorizing the execution and delivery of a Master Tax-Exempt Equipment Lease Purchase Agreement and related lease schedule; and authorizing the execution and delivery of documents required in connection therewith (Subject to Mayor's Veto)
3. Approve the Master Tax-Exempt Equipment Lease Purchase Agreement (MELPA) with Banc of America Public Capital Corp, LLC (BAPCC) for a term of five years
Body
RECOMMENDATION
Staff recommends that the Council 1) affirm the City Manager's determination that Banc of America Public Capital Corp (BAPCC, LLC), which falls under Bank of America, is Uniquely Qualified to provide lease purchasing financing services and this agreement is necessary to provide lease-purchase financing of City equipment; 2) Authorizing the execution and delivery of a Master Tax-Exempt Equipment Lease Purchase Agreement and related lease schedule; and authorizing the execution and delivery of documents required in connection therewith; 3) Approve the Master Tax-Exempt Equipment Lease Purchase Agreement (MELPA) with Banc of America Public Capital Corp, LLC (BAPCC) for a term of five years; and authorize the City Controller, or designee, to sign and execute the agreements and all related required documents.
EXECUTIVE SUMMARY
The City of Fresno is relocating its Police Department 911 dispatch operations to a new facility that requires a complete build-out of data center and network infrastructure to support 911 dispatch, computer-aided dispatch (CAD), and other public safety syst...
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