DEPARTMENT: Facilities Management
FILE TYPE: Consent Action
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Authorization To Execute And Deliver A Master Equipment Lease/Purchase Agreement And Equipment Schedule No. 01 Thereto For The Acquisition, Financing And Leasing Of Certain Equipment For The Public Benefit
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RESOLUTION
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WHEREAS, Dakota County (the "County"), a county duly organized and existing as a political subdivision, municipal corporation or similar public entity of the State of Minnesota, is authorized by the laws of the State of Minnesota to acquire, finance and lease personal property (tangible and intangible) for the benefit of the County and its inhabitants and to enter into contracts with respect thereto; and
WHEREAS, the Board of Commissioners of the County (the "Board") has determined that a need exists for the acquisition, financing and leasing of certain equipment consisting of energy savings improvements and equipment listed in Scope of Work (the "Scope of Work") set forth as Exhibit A3.0 to that certain Guaranteed Energy Savings Agreement ("McKinstry Agreement") made by and between County and McKinstry Essention, LLC, which constitutes personal property necessary for the County to perform essential governmental functions (collectively, the "Equipment") on the terms herein provided; and
WHEREAS, in order to acquire such Equipment, the County proposes to enter into that certain Master Equipment Lease/Purchase Agreement (the "Agreement") with Banc of America Public Capital Corp (or one of its affiliates), as lessor (the "Lessor"), substantially in the proposed form presented to the Board at this meeting, and separate Equipment Schedule No. 01 thereto substantially in the form attached to the Agreement (County is referred to as "Lessee" in the Agreement and related documents); and
WHEREAS, the Board deems it for the benefit of the County and for the efficient and effective administration thereof to enter into the Agreement and Equipment Schedule No. 01 thereunder an...
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