ORD 2674 x
Ordinance No .
Authorization for the acquisition and installation of HVAC
equipment and execution of a financing contract and related
documentation relating to the acquisition of said
equipment .
WHEREAS , the City of Camas (the " Local Agency " ) has executed a Notice of Intent to
the Office of State Treasurer , in the form attached hereto as Annex 1 in relation to the acquisition
of and the financing, of the acquisition of the HVAC equipment , as defined below , under the
provisions of RCW Chapter 39 . 94 ; and
WHEREAS , it is deemed necessary and advisable by the city council of the Local
Agency that the Local Agency acquire the equipment identified on Annex 1 attached hereto
( " Property " ) ; and
WHEREAS , it is deemed necessary and advisable by the city council of the Local
Agency that the Local Agency enter into a Local Agency Financing Contract with the Office of
the State Treasurer , in the form attached hereto as Annex 2 (the " Local Agency Financing
Contract" ) , in an amount not to exceed $ 375 , 000 , plus related financing costs , in order to acquire
the Property and finance the acquisition of the Property ;
WHEREAS , the Local Agency will undertake to acquire the Property on behalf of and as
agent of the Washington Finance Officers Association (the " Corporation" ) pursuant to the terms
of the Local Agency Financing Contract , and in accordance with all applicable purchasing
statutes and regulations applicable to the Local Agency ; and
WHEREAS , the Local Agency desires to appoint the individuals set forth in Annex 3 as
the representatives of the Local Agency in connection with the acquisition of the Property and
execution of the Local Agency Financing Contract ( each an " Authorized Agency
Representative " ) ;
NOW , THEREFORE , BE IT ORDAINED , by the city council of the City of Camas as
follows :
Section 1 . The individuals holding the offices or positions set forth in Annex 3 are each
hereby appointed as a representative of the Local Agency in connection with the acquisition of
the Property and execution of the Local Agency Financing Contract and all other related
40
documents . A minimum of one of the two Authorized Agency Representatives shall be required
it to be considered duly executed on behalf of the Local
to execute any one document in order for
Agency .
Section 2 . The form of the Local Agency Financing Contract attached hereto as Annex 2
is hereby approved and the Authorized Agency Representatives are hereby authorized and
directed to execute and deliver the Local Agency Financing Contract , in an amount not to exceed
$ 375 , 000 , plus related financing costs , and in substantially the form attached hereto with such
changes as may be approved by the Authorized Representatives for the acquisition of the
Property and financing of the acquisition of the Property .
Section 3 . The Local Agency hereby authorizes the acquisition of the Property as agent
of the Corporation in accordance with the terms and provisions of the Local Agency Financing
Contract ,
Section 4 . The Authorized Representatives are hereby authorized to execute and deliver
to the Office of State Treasurer all other documents , agreements and certificates , and to take all
other action , which they deem necessary or appropriate in connection with the financing of the
Property , including , but not limited to , any amendment to the NOI and agreements relating to
initial and ongoing disclosure in connection with the offering of securities related to the
financing .
Section 5 . This ordinance shall become effective five ( 5 ) days from and after its
publication according to law .
PASSED by the city council of the City of Camas , at a r lar meeting thereof held this
20th day of May , 2013 .
l
s
SIGNED :
ATTEST :
APP D as form :
r City Attorney
Annex 2
LOCAL AGENCY FINANCING CONTRACT , SERIES 20
(Equipment)
This Local Agency Financing Contract, Series 20 (the " Agency Financing Contract " ) is entered into by and
between the state of Washington (the " State " ) , acting by and through the State Treasurer (the " State Treasurer" ) ,
and City of Camas , a political subdivision of the State (the " Local Agency" ) .
RECITALS ,
WHEREAS , certain State agencies ( as defined in Appendix I hereto , " State Agencies " ) are authorized to
acquire real and personal property used or needed by such State Agencies through Agency Financing Contracts
entered into pursuant to Chapter 356 , Laws of Washington , 1989 , codified as Chapter 39 . 94 of the Revised Code
of Washington (the " RCW " ) , as supplemented and amended (the "Act" ) ; and
WHEREAS , Chapter 291 , Laws of Washington , 1998 supplemented and amended the Act to authorize the
State to enter into Agency Financing Contracts on behalf of certain local agencies ( as described therein , " Local
Agencies " ) , including the Local Agency , to finance the acquisition of real and personal property by such Local
Agencies ; and
WHEREAS , the State Treasurer has established a consolidated program providing for the execution and
delivery of certificates of participation in such Agency Financing Contracts , or in Master Financing Contracts
with respect thereto , in series from time to time in order to provide financing or refinancing for the costs of
acquisition of real and personal property by State Agencies and Local Agencies ; and
`1V'I EREAS , simultaneously with the execution and delivery hereof, the State is entering into a Master
Financing Contract, Series 20 , dated as of the Dated Date (the " Master Financing Contract" ) with the
Washington Finance Officers Association , a nonprofit corporation duly organized and existing under and by
virtue of the laws of the state of Washington (the " Corporation " ) , to provide financing for the costs of acquisition
of certain items of personal property by certain State Agencies and Local Agencies , including the Local Agency ,
under the terms set forth therein ; and
WHEREAS , the State Treasurer and the Local Agency have determined that it is necessary and desirable to
enter into this Agency Financing Contract to provide financing or refinancing for the costs of acquisition of
certain items of personal property , described in Exhibit B hereto (the " Property" ) , by the Local Agency ; and
WHEREAS , the State Finance Committee has authorized the execution and delivery of this Agency Financing
Contract pursuant to Resolution No . 987 adopted on October 7 , 2003 ; and
WHEREAS , all acts , conditions and things required by law to exist, to have happened and to have been
performed precedent to and in connection with the execution and delivery of this Agency Financing Contract do
exist, have happened and have been performed in regular and due time , form and manner as required by law, and
the Parties hereto are now duly authorized to execute , deliver and perform their respective obligations under this
Agency Financing Contract ;
NOW THEREFORE , in consideration of the mutual covenants and agreements contained herein and for other
valuable consideration , the Parties hereto mutually agree as follows :
Section 1 . 1 Defined Terms . Capitalized terms used but not otherwise defined in this Agency Financing
Contract shall have the respective meanings given such terms in Appendix I hereto .
Section 1 . 2 Notice of Intent ; Personal Property Certificate ; Certificate Designating Authorized Local Agency
Representative . The Local Agency has delivered a Notice of Intent to the State Treasurer in the form of Exhibit A
attached hereto and incorporated herein by this reference . In order to evidence its acceptance of the Property
financed and acquired pursuant hereto , the Local Agency has executed and delivered herewith , or will execute
and deliver within 60 days from the Dated Date to the State Treasurer, a Personal Property Certificate in the form
of Exhibit B attached hereto and incorporated herein by this reference . The Local Agency has delivered a
Certificate Designating Authorized Agency Representatives to the State Treasurer in the form of Exhibit C
attached hereto and incorporated herein by this reference . Said Certificate is currently in force and has not been
amended , withdrawn or superseded , and the signatures shown thereon are true and correct originals of the
signatures of the persons who hold the titles shown opposite their names . The signature of any one of the
individuals shown on said Certificate is sufficient to bind the Local Agency under this Agency Financing
Contract with respect to any of the undertakings contemplated herein . The terms and provisions set forth in
Appendix II hereto are incorporated herein and made a part hereof by this reference .
Section 1 . 3 Installment Sale and Purchase of Property . The State hereby agrees to sell , assign and convey ,
and does hereby sell , assign and convey to the Local Agency , and the Local Agency hereby agrees to purchase ,
acquire and assume , and does hereby purchase , acquire and assume , from the State , all of the State ' s right , title
and interest in and to the Property and all proceeds and profits thereof and therefrom , subject to the security
interest created pursuant to Section 2 . 5 of Appendix II hereof, and the Local Agency agrees to pay in
consideration thereof the Purchase Price therefor and interest thereon and the Additional Costs in accordance
with Section 1 . 4 hereof, and all other amounts required to be paid by the Local Agency hereunder , all in
accordance with the provisions of this Agency Financing Contract ,
Section 1 . 4 A _ ency Installment Payments . In consideration of the sale of the Property and the covenants and
agreements of the State in this Agency Financing Contract, the Local Agency hereby promises to pay to the State
the following amounts at the following times : ( a) On each Agency Installment Payment Date , the Agency
Installment Payment set forth in Exhibit D hereto , consisting of a Principal Component and/or an Interest
Component as set forth in such Exhibit ; and ( b ) All Additional Costs incurred by the State in connection with the
sale of the Property to the Local Agency , the execution and delivery of the Certificates , and the observance and
performance of the Series 20 Agreements , within thirty ( 30 ) days following receipt of an invoice from the
State with respect thereto which includes ( i ) a brief description of each such Additional Cost , ( ii ) the party to
whom payment is due , ( iii ) the amount thereof, and ( iv ) such additional information as the Local Agency may
reasonably request .
Section 1 . 5 Term . The term of this Local Agency Financing Contract shall commence on the Dated Date and
shall terminate on the date on which all amounts due hereunder shall have been paid or the payment thereof duly
provided for pursuant to Section 4 . 3 of Appendix II hereof.
1
i
STATE OF WASHINGTON City of Camas
OFFICE OF THE STATE TREASURER as Local Agenc ,1'
aw
By By
Autho ' Age cy Re resentative (Mayor)
Designated Treasurer Representative
dozBy AP
Authorized Age epresentative ( City Administrator)
A) e
Notice of Intent
State of Washington LO AL ( acal Option Capital Asset Lording )
Local Government Information
County : Clark
Legal Name : City of Camas MCAD No . : �0602 �
Contact Verson : ,loan Durgin„ Title : Finance Director
Address : �PO Box 1055 Camas , WA. Zip : 98607�
Phone : 360 ~ 817w1537_ Fax. : 360 - 8344535 & mall : jdurgin@cityofcamas . us�,
Would you prefer to receive financing documents (check one) : D Already have financing documents
JR MS word 6 , 0 by e - mail ] 3 . 5 " disk � Word 97 by U . S . mail El Hard copy by U . S . mail
Property (Real Estate or Equipment)
Property description ( include quantity , if applicable ) : _ HVAC equipment
Total cost : 492 , 000_ Maximum mum amount to finance : $.492 , 000
On January 15 , 2013 we are applying for a grant to help finance this equipment . Mid - February etre will find out 'if the
grant will be awarded to fund up to 25 % of this project ,
l� finance terra : 0 useful life : _ 1 desired financing date : March
�
Purpose of property (Please be sped and include dept . of use } : _ . New `STA for Police Facility, one of the two
existing HVAC has failed after 15 years and employees are currently using space heaters , 2 . Upgrade tenw-yearwold
ificant energy savings and more efficient heating and cooliaig ,
l �V" at Library for sign
If real estate, the Real Estate worksheet : 0 Is attached El Will be provided by (date) _
If equipment, will the property purchase price be paid with : [] program proceeds or ,0 general funds to be reimbursed
from program proceeds ? If general funds are to be used , include a copy of the local agency ' s reimbursement resolution with
the financing documents .
Security Pledge
0 Voted general obligation of local government. , Non - voted general obligation of local government
Other Information
Approximate population : 20 , 020. (not required for cities and counties ) .
1f any of the �`gllor hg apply , please provide a complete discussion on a. separate page .
g
El Yes No Does the local government use registered warrants , inter" fund loans or other Gash flow borrowin ?
El "Yes No 1s the local government a party to significant litigation ?
Yes No 1s this a reimbursement? if yes , date funds spent
too f
We are not required to submit the Credit Porta because
Has local government received a bond rating in the last two years ? ElYes XNo Bond ratings ) :
(attach rating agency letter)
By executing this Notice of Intent, the local agency acknowledges, agrees to and accepts its designation and appointment as the agent of
the nominal lessor in connection with the acquisition of the project, By executing this Notice of Intent, the local agency further
acknowledges and agrees that certificate counsel and any other special counsel to the state in connection with the authorization , issuance
and delivery of the certificates and the related financing documents shall not be acting, wid shall jiot be deemed to act, as counsel to the
local agency, nor shall any attorneywchent relationship exist or be deemed to exist between such counsel and any participating Ideal agency
in connection with such matters .
Submitted by : .loan M Durgin Title : Finance Director
Signature . Date 12/ 11 / 12
Annex 3
Certificate Designating Authorized Agency Representatives
I , Scott Higgins , Mayor of the City of Camas (the " Local Agency" ) , hereby certify that , as of the
date hereof, pursuant to Ordinance No . !; j ' the following individuals are each an `Authorized
Agency Representative , " as indicated by the title appended to each signature , that the following
individuals are duly authorized to execute and deliver the Local Agency Financing Agreement to which
this Certificate is attached as Exhibit C , and all documentation in connection therewith , including but not
limited to the Personal Property Certificate ( s ) attached thereto as Exhibit B , that the signatures set forth
below are the true and genuine signatures of said Authorized Agency Representatives and that pursuant
to such ordinance , one of the two following signatures are required on each of the aforementioned
documents in order to consider suc ocuments executed on behalf of the Local Agency :
}
cott Higgins , Mayor
Nina Regor , City Administrator
Dated this 20th day of May , 2013 .
�f
r �
Mayor
City of Camas
SUBSCRIBED AND SWORN TO before me this 20th day of May , 2013 .
LTA
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