Okaloosa County BOCC — January 7, 2014 — grader-lease-Contracts — reading text

$723,259.35 7 i5-Jul-14 $5,325.53 $1,413.09 $3,912.44 $719,078.98 8B 15-Aug-14 $5,325.53 $1,405.37 $3,920.16 $714,891.99 9 15-Sep-14 $5,325.53 $1,397.62 $3,927.91 $710,698.37 10 15-Oct-14 $5,325.53 $1,389.87 $3,935.66 $706,498.11 12 15-Nov-14 $5,325.53 $1,382.09 $3,943.44 $702,291.20 12 15-Dec-14 $5,325.53 $1,374.30 $3,951.23 $698,077.63 13 15-Jan-15 $5,325.53 $1,366.50 $3,959.03 $693,857.39 14 15-Feb-15 $5,325.53 $1,358.68 $3,966.85 $689,630.47 45 9 15-Mar-15 $5,325.53 $1,350.85 $3,974.68 $685,396.85 16 15-Apr-15 $5,325.53 $1,343.00 $3,982.53 $681,156.53 17° 15-May-15 $5,325.53 $1,335.13 $3,990.40 $676,909.50 18 15-Jun-15 $5,325.53 $1,327.25 $3,998.28 $672,655.74 19 15-Jul-15 $5,325.53 $1,319.35 $4,006.18 $668,395.25 20 15-Aug-15 $5,325.53 $1,311.44 $4,014.09 $664,128.01 pan 15-Sep-15 $5,325.53 $1,303.54 $4,022.02 $659,854.02 22 15-Oct-15 $5,325.53 $1,295.57 $4,029.96 $655,573.26 23 15-Nov-15 $5,325.53 $4,287.61 $4,037.92 $651,285.72 24 = 15-Dec-15 $5,325.53 $1,279.64 $4,045.89 $646,991.39 25 25-Jan-16 $5,325.53 $1,271.65 $4,053.88 $642,690.26 26 15-Feb-16 $5,325.53 $1,263.64 $4,061.89 $638,382.32 27 15-Mar-16 $5,325.53 $1,255.62 $4,069.91 $634,067.56 28 15-Apr-16 $5,325.53 $1,247.58 $4,077.95 $629,745.97 29 = 15-May-16 $5,325.53 $1,239.53 $4,086.00 $625,417.54 30 15-Jun-16 $5,325.53 $1,231.46 $4,094.07 $621,082.25 31 15-Jul-16 $5,325.53 $1,223.37 $4,102.16 $616,740.10 32 15-Aug-16 $5,325.53 $1,215.27 $4,110.26 $612,391.08 33 15-Sep-16 $5,325.53 $1,207.15 $4,118.38 $608,035.17 34 15-Oct-16 $5,325.53 $1,199.02 $4,126.51 $603,672.36 35 = 15-Nov-16 $5,325.53 $1,190.87 $4,134.66 $599,302.64 36 =: 15-Dec-16 $5,325.53 $1,182.70 $4,142.83 $594,926.01 37 15-Jan-17 $595,868.00 $1,174.52 $594,693.48 $0.00 Okaloosa County Board of Commissioners Signature Printed Name and Title *Assumes all Contract Payments due to date are paid Schedule (02 EXHIBIT C CERTIFICATE OF ACCEPTANCE RE: Lease with Option to Purchase Agreement dated as of August 19, 2013, between Kansas State Bank of Manhattan (Obligee) and Okaloosa County Board of Commissioners (Obligor) }, the undersigned, hereby certify that | am a duly qualified representative of Obligor and that | have been given the authority by the Governing Body of Obligor to sign this Certificate of Acceptance with respect to the above referenced Contract. | hereby certify that: 1, The Equipment described on Exhibit A has been delivered and installed in accordance with Obligor’s specifications. 2. Obligor has conducted such inspection and/or testing of the Equipment as it deems necessary and appropriate and hereby acknowledges that it accepts the Equipment for all purposes. 3. Obligor has appropriated and/or taken other lawful actions necessary to provide moneys sufficient to pay ail Contract Payments required to be paid under the Contract during the current Budget Year of Obligor, and such moneys will be applied in payment of all Contract Payments due and payable during such current Budget Year. 4. Obligor has obtained insurance coverage as required under the Contract from an insurer qualified to do business in the State. 5. No event or condition that constitutes or would constitute an Event of Default exists as of the date hereof. 6. The governing body of Obligor has approved the authorization, execution and delivery of this Contract on its behalf by the authorized __ representative of Obligor who signed the Contract. 7, Please list the Source of Funds (Fund Item in Budget) for the Contract Payments that come due under Exhibit B of this Contract. Source of Funds: _ General By signing below, Obligor hereby authorizes the General Fund of the Obligor as a backup source of funds from which the Contract Payments can be made. Okaloosa County Board of Commissioners Signature Printed Name and Title Schedule (02 EXHIBIT D OBLIGOR RESOLUTION RE: Lease with Option to Purchase Agreement dated as of August 19, 2013, between Kansas State Bank of Manhattan {Obligee) and Okaicosa County Board of Commissioners (Obligor) At a duly called meeting of the Governing Body of the Obligor (as defined in the Contract) held on the following resolution was introduced and adopted: SE IT RESOLVED by the Governing Body of Obligor as follows: 1. Determination of Need. The Governing Body of Obligor has determined that a true and very real need exists for the acquisition of the Equipment described on Exhibit A of the Lease with Option to Purchase Agreement dated as of August 19, 2013, between Okaloosa County Board of Commissioners (Obligor} and Kansas State Bank of Manhattan (Obligee). 2. Approval and Authorization. The Governing Body of Obligor has determined that the Contract, substantially in the form presented to this meeting, is in the best interests of the Obligor for the acquisition of such Equipment, and the Governing Body hereby approves the entering into of the Contract by the Obligor and hereby designates and authorizes the following person(s} to execute and deliver the Contract on Obligor’s behalf with such changes thereto as such person(s) deem(s}) appropriate, and any related documents, including any Escrow Agreement, necessary to the consummation of the transaction contemplated by the Contract. Authorized Individual(s}: {Printed or Printed Name and Title of individual(s) authorized to execute the Contract) 3. Adoption of Resolution. The signatures below from the designated individuals from the Governing Body of the Obligor evidence the adoption by the Governing Body of this Resolution. Signature: {Signature of Secretary, Board Chairman or other member of the Governing Body) Printed Name & Title: [Printed Name and Title of individual who signed directly above) Attested By: (Signature of one additiona! person who can witness the passage of this Resolution) Printed Name & Title: {Printed Name of individual who signed directly above} Schedule (02 EXHIBIT E BANK QUALIFIED CERTIFICATE RE: Lease with Option to Purchase Agreement dated as of August 19, 2013, between Kansas State Bank of Manhattan {Obligee) and Okaloosa County 8oard of Commissioners (Obligor) Whereas, Obligor hereby represents that it is a “Bank Qualified” Issuer for the calendar year in which this Contract is executed by making the foltowing designations with respect to Section 265 of the Internal Revenue Code. (A “Bank Qualified Issuer” is an issuer that issues less than ten million ($10,000,000) dollars of tax-exempt obligations during the calendar year). Now, therefor, Obligor hereby designates this Contract as follows: 1. Designation as Qualified Tax-Exempt Obligation. Pursuant to Section 265(b}{3){B}{i) of the Internal Revenue Code of 1986 as amended (the “Code”), the Obligor hereby specifically designates the Contract as a “qualified tax-exempt obligation” for purposes of Section 265(b}{3) of the Code. in compliance with Section 265(b){3}(D) of the Code, the Obligor hereby represents that the Obligor will not designate more than $10,000,000 of obligations issued by the Obligor in the calendar year during which the Contract is executed and delivered as such “qualified tax-exempt obligations”. 2. Issuance Limitation. in compliance with the requirements of Section 265(b)(3)(C) of the Code, the Obligor hereby represents that the Obligor (including all subordinate entities of the Obligor within the meaning of Section 265(b}{3){E) of the Code} reasonably anticipates not to issue in the calendar year during which the Contract is executed and delivered, obligations bearing interest exempt from federal income taxation under Section 103 of the Code (other than “private activity bonds” as defined in Section 141 of the Code} in an amount greater than $10,000,000. Okaloosa County Board of Commissioners Signature Printed Name and Title OPINION OF COUNSEL {Must be Re-typed onto attorney's letterhead} (Date, must be on or after the meeting date listed on Exhibit D, Obligor Resolution) Kansas State Bank of Manhattan 1010 Westloop; P.O. Box 69 Manhattan, Kansas 66505-0069 RE: Lease with Option to Purchase Agreement dated as of August 19, 2013, between Kansas State Bank of Manhattan {Obligee) and Okaloosa County Board of Commissioners (Obligor) Ladies and Gentlemen: As legal counsel to Obligor, | have examined the foregoing Contract and such other opinions, documents and matters of law as } have deemed necessary in connection with this Contract. Based on the foregoing, 1 am of the following opinions: 1. Obligor is a political subdivision of the State of Florida, or a constituted authority authorized to issue obligations on behalf of a political subdivision of the State. 2. Obligor has the requisite power and authority to purchase the Equipment and to execute and deliver the Contract.and to perform its obligations under the Contract. The Contract and the other documents either attached hereto or required herein have been duly authorized, approved and executed by and on behalf of Obligor, and the Contract is a legal, valid and binding obligation of Obligor enforceable in accordance with its terms, 3. The authorization, approval and execution of the Contract and all other proceedings of Obligor relating to the transactions contemplated thereby have been performed in accordance with all open meeting laws, public bidding laws and all other applicable state and federal laws. 4. There is no litigation, action, suit or proceeding pending or before any court, administrative agency, arbitrator or governmental body that challenges the authority of the Obligor or any of the Obligor’s officers or employees to enter into the Contracts. 5. The above opinion is for the sole benefit of the Obligee listed above and can only be relied upon by the Obligee or any permitted assignee or subassignee or successor of Obiigee under the Contract. Signature of Legal Counse} INSURANCE REQUIREMENTS Pursuant to Article V of the Lease with Option to Purchase Agreement, you have agreed to provide us evidence of insurance covering the Equipment. A Certificate of Insurance listing the information stated below should be sent to us no later than the date on which the equipment is delivered. insured: Certificate Holder: Okaloosa County Board of Commissioners Kansas State Bank of Manhattan 302 N. Wilson Street, Suite 203 1010 Westloop, P.O. Box 69 Crestview, Florida 32536 Manhattan, Kansas 66505-0069 1. Equipment Description @ Four (4) Volvo G930B Motor Graders, SN: 576117, 576118, 576119, 576120 @ = Please include all applicable VIN’s, serial numbers, etc. 2. Physical Damage @ = Allrisk coverage to guarantee proceeds of at least $740,263.00. 3. © Liability ¢# Minimum Combined Single Limit of $1,000,000.00 combined single-limit on bodily injury and property damage. 4. Additional Insured and Loss Payee @ Kansas State Bank and/or Sts Assigns MUST be listed as additional insured and loss payee. Please forward certificate as soon as possible to: Fax: (785) 587-4016 or Email: jpaavola@ksstatebank.com Piease complete the information below and return this form along with the Contract. Okaloosa County Board of Commissioners Insurance Company: Agent’s Name: Telephone #: Fax #: Address: City, State Zip: Email: *PREFERRED* *As an additional payment option for Obligor, we are now providing the option of ACH (Automatic Clearing House). By completing this form, Obligor is authorizing Obligee to withdraw said payrnent amount on said date. DEBIT AUTHORIZATION | hereby authorize Kansas State Bank Government Finance Department to initiate debit entries, and, if necessary, to reinitiate returned entries up to two additional times, to the account indicated below at the financial institution named below and to debit the same to such account for: Contract Number Payment Amount Frequency of Payments 3345088 $5,325.53 Monthly Beginning Day of Month (please choose one) Month Year ro s° Ty 18°C] 20°C] i acknowledge that the origination of ACH transactions to this account must comply with the