HomeMy WebLinkAbout750583.tiff IL
91
RESOLUTION
WHEREAS, pursuant to TITLE 30, ARTICLE 11 , Section 101 , CRS 1974,
as amended, the County of Weld, State of Colorado, is expressly empowered to
lease any real or personal property, either as Lessor or Lessee, together with
any facilities thereon, when deemed by the Board of County Commissioners to be
in the best interests of the County and its inhabitants; and
WHEREAS, the Board of County Commissioners of the County of Weld, State
of Colorado, deems it to be in the best interests of the County and of its in-
habitants to lease the following equipment:
1 - Champion Roadgrader, Unit
#C-101 , S/N 6794, Eng.
#4A-191856,
1 - Champion Roadgrader, Unit
#C-102, S/N 7069, Eng.
#4A-195573, and
1 - Champion Roadgrader, Unit
#C-103, S/N 7074, Eng.
#4A-195566 at a cost of
: 72,445.99
which the First National Bank of Windsor, Colorado has agreed to purchase and
to lease to Weld County, all upon the terms and conditions of a certain Equipment
Lease Agreement with the Schedules and Exhibits attached hereto in the form pre-
sented at this meeting; and
WHEREAS, the Board has determined, after consultation with a qualified
independent appraiser, that the proposed lease rental to be paid for said equip-
ment is fair and reasonable; and
WHEREAS, in the opinion of the County Attorney of Weld County, the County
has full power and authority to make and enter into said Equipment Lease Rental
Agreement with the First National Bank of Windsor, Colorado, for the purposes and
upon the terms and conditions as set forth in said proposed Agreement and attached
Schedules and Exhibits without incurring any indebtedness or other obligation on
the part of Weld County which might be deemed a general obligation debt as provided
in the Constitution and Statutes of the State of Colorado;
750583
NOW, THEREFORE, BE IT RESOLVED, that the Equipment Lease Agreement and
related Equipment Lease Schedules and Exhibits attached hereto and in the form
submitted to this meeting a copy whereof is hereby directed to be attached to
this Resolution, and made a part hereof and a part of the minutes of this meeting,
providing for the leasing by Weld County from the First National Bank of Windsor
Colorado, for a period of 22 months, at the rentals and upon the terms and condi-
tions therein provided for, of the hereinabove mentioned equipment are hereby
authorized, approved and confirmed;
BE IT FURTHER RESOLVED, that the appropriate officials of Weld County be,
and they hereby are authorized, empowered and directed in the name of Weld County
and on behalf of its County Commissioners, to make, execute and deliver any and
all documents, certifications and other instruments necessary, required, or
desirable in the opinion of the Weld County Attorney to effectuate the leasing
of said terms of equipment upon the terms and conditions presented to this Board
and set forth in the documents aforesaid.
CERTIFICATION
The undersigned, together constituting the duly elected, qualified and
acting members of the Board of County Commissioners of Weld County, Colorado,
do hereby state and certify and a meeting of said Board duly called and held at
Greeley, Colorado, on the 16th day of April , A.D. , 1975, at which a
quorum was present and acting throughout, the foregoing Resolution, was unanimously
adopted; that said Resolution is in the Minutes of said meeting, and that the same
has been amended, rescinded, or revoked.
Dated this 16th day of April , A.D. , 1975.
BOARD OF COUNTY COMMISSIONERS
WELD LINTY, COLOARDO,
-ice
ATTEST: ,j7/K
Weld County Clerk and Recorder
and Clerk to the Boar
Deeputy County Cl rk
APPROVED/AS TO FORM:`; -----
fin . ", //// (c Le- y
-
County Attorney
-2-
EQUIPMENT LEASE AGREEMENT
This Lease is made and entered into this 16th day of April, A.D. , 1975,
between First National Bank of Windsor Colorado, a Colorado corporation ("Lessor")
and the Board of County Commissioners of Weld County Colorado, ("Lessee") .
RECITALS
A. By Resolution No. , adopted April 16 , 1975
copy of which is attached hereto and by this reference incorporated herein and
made a part hereof, the Lessee has found and determined that the equipment and
facilities which are the subject of this Agreement are needed County improvements
which should be paid for out of current revenues; that it is in the best interests
of the County and its inhabitants that the costs of said improvements be paid
from the Road and Bridge Fund heretofore created and established and be payable
solely from current revenues from the tax levy heretofore established in connec-
tion with said Fund; and that the costs of said improvements shall be paid from
current revenues without incurring any indebtedness or other obligation of the
part of the Lessee which might be deemed a general obligation debt on the Lessee
provided in the Constitution and Statutes of Colorado.
B. Lessor is engaged in the business of owning and leasing machinery,
equipment, facilities and other items of personal and real property. The Lessor
has agreed to purchase the items of equipment and facilities which the Lessee
has determined to be needed for County purposes and which are the subject of
this Agreement, and to lease the same to Lessee for 22 months all upon the terms
and conditions set forth in this Agreement and the Equipment Lease Schedules and
other documents attached hereto or referred to herein.
NOW, THEREFORE, in consideration of the premises as set forth in the
foregoing Recitals, and in further consideration of the mutual covenants and
promises herein set forth, the parties agree as follows:
1 . LEASE. Lessor hereby leases to Lessee, and Lessee hereby leases
and hires from Lessor, the property, machinery and equipment ("equipment")
described in the Equipment Lease Schedule or Schedules executed by the parties
concurrently herewith or hereafter and made a part hereof.
2. TERM. The term of this Lease respecting each item of equipment leased
by the Lessor to the Lessee under this Agreement.
3. RENT. The rent for each item of equipment shall be the amount designated
in the Equipment Lease Schedule covering such equipment. Lessee shall pay Lessor
said rent in advance, in the amounts and at the times set forth in the Schedule,
at the office of Lessor in Windsor, Colorado, or to such other person and/or at
such other place as Lessor may from time to time designate in writing. Said rent
shall be payable from the Road and Bridge Fund of Lessee.
4. USE. Lessee shall use the equipment in a careful and proper manner
and shall comply with all applicable governmental laws, ordinances and regulations
in anywise relating to the possession, use or maintenance of the equipment. If
at any time during the term hereof Lessor supplies Lessee with labels, plates,
or other markings, stating that the equipment is owned by Lessor, Lessee shall
affix and keep the same upon a prominent place on the equipment.
5. LESSEE'S INSPECTION: CONCLUSIVE PRESUMPTIONS. Lessee shall inspect
the equipment within forty-eight (48) hours after receipt thereof. Unless Lessee
within said period of time gives written notice to Lessor, specifying any defect
in or other proper objection to the equipment, Lessee agrees that it shall be
conclusively presumed, as between Lessor and Lessee, that Lessee has fully inspected
and acknowledged that the equipment is in good condition and repair, and that
Lessee is satisfied with and has accepted the equipment is such good condition and
repair. LESSOR MAKES NO WARRANTIES, EITHER EXPRESS OR IMPLIED, AS TO THE CONDITION
OF THE EQUIPMENT OR ITS FITNESS FOR ANY PARTICULAR PURPOSE INCLUDING ANY USES MADE
FROM TIME TO TIME BY THE LESSEE.
6. LESSOR'S INSPECTION. Lessor shall at any and all time during business
hours have the right to enter into and upon the premises where the equipment may be
located for the purposes of inspecting the same or observing its use.
7. ALTERATIONS. Without the prior written consent of Lessor, Lessee
shall not make any alterations, additions or improvements to the equipment.
8. REPAIRS. Lessee, at its own cost and expense, shall keep the equipment
in good repair and condition and shall bear all expenses of the maintenance and
operation of the equipment.
-2-
9. INSURANCE: LOSS AND DAMAGE: AGREED OPTION PRICE. Lessee shall keep
the equipment insured against all risks of loss or damage by fire and such other
risks as are covered by endorsement commonly known as supplemental or extended
coverage for the fair market value thereof and for not less than the "Agreed
Option Price" as set forth in the Equipment Lease Schedule with respect to such
equipment. Lessee shall also carry public liability and property damage
insurance covering the equipment in amounts not less than $200,000 in respect
of bodily injury or death to any one person, not less than $500,000 in respect
of any one accident, and not less than $100,000 in respect of property damage.
All such insurance shall insure both Loessor and Lessee. The Lessee may effect
such coverages under its blanket policies. No loss or damage to the equipment
or any part thereof shall impair any obligation of the Lessee under this Lease
which shall continue in full force and effect. In the event of loss or damage
of any kind whatever to any item of equipment, the proceeds of such insurance
shall be applied, at the option of Lessor, to any item of equipment:
(a) To place the same in good repair, condition and working order, or
replace the same with like equipment in good repair, condition and working
order; or
(b) If in the reasonable judgment of Lessor, any item of equipment is
determined to be lost, stolen, destroyed or damaged behond repair, Lessee shall
pay Lessor therefor in cash, to the extent the insurance proceeds may be in-
sufficient, the balance of the "Agreed Option Price" as set forth in the
Equipment Lease Schedule determined as of the date of the last rental pay-
ment under such Schedule. Upon such payment this Lease shall terminate with
respect to such item of equipment so paid for and Lessee thereupon shall be-
come entitled to such item of equipment as-is-where-is without warranty, express
or implied, with respect to any matter whatsoever.
10. TAXES. In the event any assessments, charged or taxes (munic-
ipal , state or federal ) shall now or hereafter be imposed upon the equipment,
Lessee agrees to pay the same and to keep the equipment free and clear of liens
and encumbrances.
11 . LESSOR'S PAYMENT. In case of the failure of the Lessee to procure
or maintain insurance on the equipment as herein specified, Lessor shall have the
right, but shall not be obligated, to effect such insurance, and the cost thereof
-3-
shall be repayable to Lessor with the next installment of rent.
12. DEFAULT. If the Lessee shall fail to pay the rent due and payable
under any Equipment Lease Schedule attached to this Lease within ten (10) days
after the same is due and payable, or if the Lessee shall fail to observe,
keep or perform any other provision of this Lease (or of any Equipment Lease
Schedule attached or to be attached hereto) for a period of ten (10) days after
receipt of written notice thereof, Lessor shall have the right to exercise any
one or more of the following remedies:
(a) To terminate this Lease as to any Equipment Lease Schedule and to
sue for and recover all rents and other payments then accrued and unpaid
thereunder.
(b) To retain all rentals and to take possession of any or all items
of equipment under any Equipment Lease Schedule, without further demand or
notice and without any court order or other process of law and either to
remove the same or to lease the same to others.
13. ASSIGNMENT. Without the prior written consent of Lessor, Lessee
shall not assign, transfer, pledge or hypothecate this Lease, the equipment
or any part thereof, or any interest therein. It is understood that Lessor
contemplates assigning this Lease or interest in the equipment and that said
Lessor's assignee may also assign the same. All rights of Lessor hereunder
may be assigned, transferred, or otherwise disposed of, either in whole or in
part, without notice to Lessee, PROVIDED, HOWEVER that no assignment of this
Lease or any interest therin shall be made except subject to the rights granted
to the Lessee by virtue of this Lease; and PROVIDED FURTHER that no assignee
of Lessor shall be obligated to perform any duty, covenant or condition required
to be performed by Lessor under the terms of this Lease.
14. PERSONAL PROPERTY. The equipment is, and shall at all times be
and remain, personal property notwithstanding that the equipment may be affixed
or attached to, or inbedded in, or permanently resting upon, real property or
any building thereon, or attached in any manner to what is permanent as by
means of cement, plaster, nails, bolts, screws or otherwise.
-4-
15. INTEREST. Should Lessee fail to pay any part of the rent herein
reserved or any other sum required by Lessee to be paid to Lessor, within
10 days after the due date thereof, Lessee shall pay to the Lessor interest
on such delinquent payment from the due date until paid at the rate of 10 percent
(10%) per annum.
16. OPTION. Provided the Lessee is not in default in its performance
of its obligations hereunder, Lessee shall have the option at any time after
April 16, 1975 to purchase the equipment described in Resolution
dated April lf, 1975 concerning three (3) Champion Roadgraders by paying to
Lessor amount prorated from the date of April 1 , 1975 or the date of the last
payment. Such option to purchase said equipment shall be exercised by the payment
of the "Agreed Option Price" to the Lessor at Lessor's office in Windsor, Colorado
at any time. If the Lessee exercises the option to purchase the equipment, title
thereto shall thereupon become vested in the Lessee and Lessor will thereupon
execute and deliver to the Lessee a bill of sale of all of its right, title and
interest in the equipment as evidence of said transfer of title.
17. EXPIRATION. If the Lessee shall comply with all provisions of this
Lease on its part to be kept and performed, then upon the expiration of this
Lease, all the right, title and interest of the Lessor in the equipment shall
vest in and become the property of the Lessee, and the Lessor covenants that
it will thereupon execute to the Lessee a bill of sale of all if its right,
title and interest in and to said equipment as evidence of said transfer of
title.
18. TAX EXEMPTION. The "Rent" , "Interest" , "Agreed Option Price" and
other computations set forth in each of the Equipment Lease Schedules attached
or to be attached hereto, have been fixed and computed upon the assumption
and in the belief that the amount designated as "Interest" will be exempt
from federal income taxation in the hands of the Lessor and its assignees.
19. CLAIMS. The Lessor hereby appoints and constitutes Lessee as
its agent and attorney-in-fact during the term of this Lease to assert and
enforce, at the sole cost and expense of the Lessee, whatever claims and rights
the Lessor may have as owner of the equipment against any vendors, manufacturers,
suppliers, or contractors in respect thereof.
-5-
20. NON-WAIVER. No waiver of any of the Lessee's obligations under
this Lease or the Equipment Lease Schedule or Schedules attached or to be attached
hereto shall be deemed to take place unless such waiver has been made in writing
and signed by the Lessor. Failure to exercise any remedy which Lessor may have
under this Lease or any Equipment Lease Schedule attached hereto or any other
acquiescence by the Lessor in any default by the Lessee shall not constitute
a waiver of any obligation of Lessee hereunder, including the obligation as to
which Lessee is in default.
21 . CONCURRENT REMEDIES. No right or remedy conferred upon or reserved
to the Lessor in this Lease or in any Equipment Lease Schedule or Exhibit attached
hereto is exclusive of any other right or remedy provided or permitted herein
by law or equity; but each shall be cumulative of any other right or remedy given
hereunder, or now or hereafter existing at law or in equity or by statute or
otherwise, and may be enforced concurrently therewith, or from time to time.
22. MODIFICATION. This Lease Agreement and the Equipment Lease Schedules
and Exhibits hereto attached or to be attached constitute the entire Agreement
between Lessor and Lessee and shall not be amended, altered or modified except
in a writing signed by the parties hereto.
23. NOTICES. All notices required or permitted hereunder or under any
Equipment Lease Schedule shall be sufficient if delivered personally or mailed
to the parties at the address hereafter set forth or at such other address as
either party may designate in writing from time to time. Any such notice shall
be effective 48 hours after it has been deposited in the United States mail ,
duly addressed and with postage prepaid.
24. GOVERNING LAW. This Agreement and all Equipment Lease Schedules
and other instruments or documents executed by the parties hereto, and the
rights and duties of the parties hereto shall be construed and enforced in
accordance with the laws of the State of Colorado.
25. TIME. Time is of the essence of this Lease and each and all of its
provisions.
-6-
IN WITNESS WHEREOF the parties hereto have executed this Lease the
day and year first above written.
FIRST NATIONAL BANK OF WINDSOR
WELD COUNTY, COLORADO
/
BY /fly['[ , / 17; x/c Z[
Presid8At - Lessor
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
e- ,-'z'.,clil_i , ,.,-' ' , i
7"/"7:,
ji---#L,„,A J j.
,c � .P
ATTEST:0/. ��— �%`z
Weld County Clerk and Recorder
arid\Clerk to the Boa`
-`-Dgputy County CIe`rk
1,
A4ROVED AS TO FORM:
County Attorney o
ATTACHMENTS:
Resolution No. of the Board of County Commissioners of Weld County,
Colorado.
1 . Assignment of Bill of Sale.
2. Lease Payment Schedule.
-7-
LEASE PAYMENT SCHEDULE
Lease
Payment Date Due Rent Amount
1 2-1-76 $ 37,219.67
2 2-1-77 $ 35,226.32
FIRST NATIONAL BANK OF WINDSOR
BY ;'4676 . ,k' (LA C>
0
i � . T,..Y%,,..• P�'AEHASE ORDER AND VOUCHER
PhId County
ii[ I- REFER TO THIS NUMBER .(- fl o o r.
P.O.BOX 788 GREELEI',coca 80631 ON INVOICES AND IN
A,-,. � U PHONE(303)353-2212 CORRESPONDENCE. �� .I r
a „ . 11132
ALL TRANSPORTATION CHARGES MUST BE PREPAID
VENDOR NAME AND ADDRESS
NO. SHIP TO
First ,.ational Bank of Windsor Ro?d F, '.ririoe
P. o. Box 932
!!irri�rr, ) {?U 5O
DATE WARRANT NO. SHIP INSTRUCTIONS DEPARTMENT
12/2/75 Roll 9, rrl;ire
OUANTUTY UNIT _ D r l C R : P T I O N N''PI'f AMOUNT
1 Dl' 'k' thly Le se Payment On: Fiat-Allis, Nodel 19-21 � cnx�r.�r
1�177
(I S .r es " " .CR •ILER TRACTOR, Serial "'o. 10,19103, � `�
Ilodel % 1 BU Uydraulit "U" Dc7er rrorl 1/19/76 46
,./.,-k " Willy I..- Se ri!rnr.nt on Fepl:ri I ..nd.;1 ;!5.(C I!'14r?IllIrc-- 6c50)-(4145
1
I4ET, Scr•111 PO. C1F,,182 From 1/771
1 . .,S Champion roadnrader, Unit VC-,191 , Sr 579/1 ,/Fr't.
Chi p G -.257•
1 -, Char :ion 'cad r;"d Cr, Unit. #1- 1:12, r/i7 7r..,71 Ewe
I :
- Champion Oa0',r'.d'r, Unit n 1h e-/!“ 7,17 trf"
1
s_ _
04A-19 f-1. 6y e -a�9
Ft /'!.- i 'Y fl.'4T '11 ALL ABOVE Pt1NNrr! .
�` T•T • Ltt*,1•UNT : ':• ' ""^ ;T:
First 'ht.inn: 1 ''nr1 PF I,i-IN,',,,•
': I C()DE NUMBERS AMOUNT
Approved by
O Budget Officer O Authorized Signature
And so ordered by Board of Weld County Commissioners.
CHAIRMAN INITIAL INITIAL
I
ATTEST:COUNTY CLERK AND RECORDER
(RI
•
VV 6,JO,. C U UNt^I Y r.RELLEY, COLORADO b0G3 ''
DEPAniMENT REQUISITION FOR PURGi1ASE' NO ` ?1 ng
• P.O. 10236
Date _ 12/8/75
Department_ Road & Bridge
•
Fund 03703-790
•
•
•
Deliver to
QUANTITY UNIT DESCRIPTION AND SPECIFICATION ACCOUNT UNIT AMOUNT
NO. PRICE
1 Monthly Lease Payment on: Fiat-Allis, Model HD-21 ,
Series "B" CRAWLER TRACTOR, Serial No. 10519403,
Model 21 HU-Hydraulic "U" Dozer - From 1/19/76.
•
1 Monthly Lease Payment on Koehring Model 1066C •
Hydraulic Hoe, Serial No. cl61.82 From 1/5/76
- f
Champion Roadgrader, Unit C#-101 , S/N 6794, Eng. •
#4A-191856
1 Champion Roadgrader, Unit #C-102, S/N 7069, Eng.
#4A-195573, �.
1 Champion Roadgrader, Unit #C-103, S/N 7074, Eng.
#4A-195566 •
.-
Final Payment on All Above Equipment 229,879.1f
IF SIMILAR ITEMS OR SUPPLIES HAVE BEEN HERETOFORE
PURCHASED. PLEASE LIST VENDORS LAST PURCHASED FROM. CONFIRMING PURCHASE
MATERIAL RECEIVED REPORT
I CERTIFY THAT THE ITEMS LISTED ABOVE HAVE BEEN RECEIVED
AND THAT THE CONDITION WAS SATISFACTORY
2.
3.
a
•
5.
• DEPARTMENT HE,,D
Vendor First National Bank of Windsor I CERTIFY THAT THE ABOVE PURCIIASE IS NFCFSSARY FOR THE
PROPER OPERATION (F THE COUNTY OF WELD COUNTY AND TO MY
KNOWLEDGE FUNDS ARE AVAILABLE IN THE'CURRENT BUDGET.
Street P. 0. Box 939
City Windsor,
State CO 80550 - , '—
DEPARTMENT HEAD
APPROVED BY BOARD OF WELD COUNTY COMMISSIONERS
Ai PROVED BY BUDGET OFFICER
ti _ 2/.2-
c-/
CHAIRMAN
4 I
Hello