R2017-21 Purchase Two Dump Trucks from Mack Sales & Services

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FORM OF AUTHORIZING RESOLUTION/EXTRACT OF MINUTES At a duly called meeting of the governing body of City of Decatur, held in accordance with all applicable legal requirements,including open meeting laws,on the 21 st day of February 2017,the following resolution was introduced and adopted: A RESOLUTION OF THE GOVERNING BODY OF CITY OF DECATUR AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER EQUIPMENT LEASE-PURCHASE AGREEMENT WITH PNC EQUIPMENT FINANCE,LLC,AS LESSOR,AND SEPARATE LEASE SCHEDULES THERETO FOR THE ACQUISITION, PURCHASE, FINANCING AND LEASING OF CERTAIN EQUIPMENT WITHIN THE TERMS HEREIN PROVIDED;AUTHORIZING THE EXECUTION AND DELIVERY OF OTHER DOCUMENTS REQUIRED IN CONNECTION THEREWITH; AND AUTHORIZING ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION. WHEREAS,City of Decatur(the "Lessee'),a body politic and corporate duly organized and existing as a political subdivision,municipal corporation or similar public entity of the State of Illinois is authorized by the laws of the State of Illinois to purchase,acquire and lease certain equipment and other property for the benefit of the Lessee and its inhabitants and to enter into contracts with respect thereto; and WHEREAS, the governing body of the Lessee (the "Board") has determined that a true and very real need exists for the acquisition, purchase and financing of certain property consisting of 2 Mack International Dump Trucks(collectively,the "Equipment")on the terms herein provided; and WHEREAS,in order to acquire such Equipment,the Lessee proposes to enter into that certain Master Equipment Lease-Purchase Agreement(the "Master Lease")with PNC Equipment Finance,LLC,as lessor (the "Lessor"), substantially in the proposed form presented to the Board at this meeting, and separate Lease Schedules thereto substantially in the form attached to the Master Lease; and WHEREAS, the Board deems it for the benefit of the Lessee and the efficient and effective administration thereof to enter into the Master Lease and the separate Lease Schedules relating thereto from time to time as provided in the Master Lease for the purchase, acquisition, financing and leasing of the Equipment to be therein more specifically described on the terms and conditions provided therein and herein; NOW,THEREFORE,BE IT AND IT IS HERBY RESOLVED BY THE GOVERNING BODY OF THE LESSEE AS FOLLOWS: Section 1. It is hereby found and determined that the terms of the Master Lease(including the form of Lease Schedule and Payment Schedule attached thereto),in the form presented to this meeting, are in the best interests of the Lessee for the acquisition,purchase,financing and leasing of the Equipment. Section 2. The form, terms and provisions of the Master Lease (including the form of Lease Schedule and Payment Schedule attached thereto) are hereby approved in the forms presented at this meeting, with such insertions, omissions and changes as shall be approved by the City Manager and