title
GPD HEATING/VENTILATING/AIR CONDITIONING SYSTEMS (B)
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF GAINESVILLE, FLORIDA, APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER LEASE PURCHASE AGREEMENT AND RELATED LEASING SCHEDULE WITH SIEMENS FINANCIAL SERVICES, INC. PERTAINING TO CERTAIN EQUIPMENT; DELEGATING TO EACH OF THE CITY MANAGER, THE ADMINISTRATIVE SERVICES DIRECTOR AND THE FINANCE DIRECTOR OF THE CITY THE AUTHORITY TO EXECUTE AND DELIVER SUCH MASTER LEASE PURCHASE AGREEMENT AND RELATED DOCUMENTS ON BEHALF OF THE CITY; PROVIDING CERTAIN OTHER DETAILS IN CONNECTION WITH SUCH TRANSACTION; PROVIDING AN EFFECTIVE DATE.
recommendation:
The City Commission adopt the proposed resolution.
explanation
The City Commission, at the meeting of March 13, 2006, approved the signing of an agreement with Siemens Building Technologies, Inc. to replace the existing HVAC system and convert to more efficient lighting at the GPD headquarters building. This resolution approves the forms of, and authorizes the execution of, a Master Lease Purchase Agreement and Lease Schedule between the City and Siemens Financial Services, Inc. The purpose of this Lease transaction is to finance the acquisition of certain equipment for the Gainesville Police Department referred to in the proposed Performance Contracting Agreement between the City and Siemens Building Technologies, Inc.