HomeMy WebLinkAboutIT10-267 - Original - ABS Finance - Equipment Lease Purchase: Digi Doc Flow - 07/02/2010ecords M em
KENT D ocumentWASHINGTON
CONTRACT COVER SHEET
This is to be completed by the Contract Manager prior to submission
to City CIerks Office' All portions are to be completed.
If you have questions, please contact city clerk's office,
Vendor Name:
Vendor Number:
JD Edwards Num r
Contract Number:
This is assigned by City Clerk's Office
Project Name:
Description: n Interlocal Agreement n Change Order n Amendment n Contract
ffOther:
Contract Effective Date:7loa. lto Termination Date: 9lo=l te---r t
Contract Renewat Notice (DaYs):
Number of days required notice for termination or renewal or amendment
Contract Manager:Department:
Detail: (i,e. address, location, parcel number, tax id' etc.):
,r)
rl
S: Public\RecordsManagement\Forms\Contractcover\adcc7832 | 1U08
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0p,;a t3 ft'
MUNICIPAL LEASE
puicnnsE AGREEMENT
This document ls wrltten ln "Plaln Engllsh".The words You and Your refer to the customer, The
Flnance, Every has been made to ellmlnate confuslng language and create a
attemPt
rivords LeEsor' we'us and our refer to
documenl.
Flnturce
STREET AOORES9
4th
PHONE
IT 2"d Floor
FULL LEGAL NAME
of FAX
zlPSTATEcrw98032WAKent E.MAILADDRESB
FEDEML TAX I.D.#
g4 PaYments of $271,08
Porlod lgLeas6 lndlcatsd'OtherwloeUnleeg
See the attqched Schedule 1A"I See the attach€d Pool Bllllng Schedule E See the attaohed GrouPed
tr
Torm lo Monlhs
34
THIS IS A NONCANCELABLE
'
I RREVOCABLE AGREEMENT, THIS AGREEMENT CAN NOT
Pool Bllllng Schedule
$0
BE CANCELED OR T ERMINATED.
6@nomlo
I
novol
a8l
601
sn oplnlon
._- Your hltlal!(conllnuod on lho ttwrss sklo)
ABS Flnance
proml!8tyourilgnlngbslow,YM
Ke/t
m!poc'b
ond condl0ons haroln
mElnlensncs qnd ro as lo nalnlaln manuf6olur6/B and/ot auppll8/r warJanllo!.
Us orOlr Ecslgn66 a tum oqual to lho sppllcablo t€rnalnlng'Pdnolpal Batanco'plur lnlorost e! elalsd on Exhlbll B, ll peld l6t6t lhan as 16gulatlyschsdulad.
8, DI8OLAIMER OF WARRANTIEEI WE I.JIAKE NO WARRANTY EXPRESS OR IMPLIEDI INOLUDINO IHAT THE EqUIPMENT 18 FIT FOR A PARTICUTAR PURFO8E OR IHA| THE EOUIPI/IENT 18
TT,|ERoHANTABLE you ACnEE IHAT you HAVe SELEoTEo THE suppUEF AND EACiI lTlM OF EqUIPMENT EA6ED UPON YOUR,IUDOEMENI AND DlsoLAlM ANY FEIIANOB UPoN ANY
STATEMENTS OR REPRESEIITAIIONs IlIADE BY U8 OR ANY sUPPIIER. Il,lE DO NOT TAKE NEEPONSIEILITY TOR THE INSTALLAfON OR PERFORMANCE OF THE EAUIPTVENT, THE OUPPLIER
IS NOT AN A6ENT OF OURS AND NOTHINO THE 8UPPIIBN 9TATES OAN AFFEOT YOUR OBLIOATION UNDSR THE LEA8E. YOU WILL OONTINUE TO I/IAKE ALL PA\6'IENTS UNDER THI8
AOREEMENT RECARDLEG8 OF ANY O[AIM OR OOMP[AINT AOAINsT SUFPLIEN.
caals snd on whlch Ws may make a prolll. Nolhlno ln Wo psrEgroph wlll r€llovs You ot lht obllgatlon lo provldo publlo llablllly covoraoo.
Equlpm0nl to us snd guil€ntse 6nd lndomnlff slsar lllle. Yoq al your own oxpense, ohall dellver lhe Equlpmofil lo €uoh plact aB opeomod by.Ua,
any lmnel€r and tnxoE putruonl io Paagtaph I l.
A{rocmonl and Your.lghl lo po0losslon ol he Equlpnenl,
perfomance.olallobll06llonoonthsp$lorYoulobepedormedundurhleleaeo, A[6uchrsmodlsrar€oumulallvo,dndmoybo€x€rol8€dconcuronllyotsopar|loly,
c0ncur,6nllyi 6op8rstoly, or ln aequonce,
aorlgn6o,
nocoloary UCC-! lornr lo per{eot lhe purohaso mon6y rsouallylntoroBt h6t€ln granlsd to socurod perty. Any fso chdtged under thl8 Agr€qrnont moy lnok/da a prcnl
lo, NoNAPPROPR|ATION| You maytormlnElo lhloAgroemenl at lfto ofid olany flrcql y0et It lho followlng €v€nlo lhall havo occurddl
fundr al8 sol budgstod and appropdalod, end lo p€aeeblyrrrtondg po!!6stlon ol
6pproptlEt€d,
19, oHolcE oF LAW JURY TRhL WAIVERT Th{. Laa!6 wlll bE govEmod and c.ntlrusd h
rlghlo lo 6 lrlel by lury,
to
iqata -otfienioa
lho lawr ol You elo loqalod, To lho ,xl.nl psrmlllsd by lEq Yor sgroE lo wafue Your
APPLICATION NO.
1345726
CONTMGT NO.
Exhibit "8"
lnterest
27L,08
27L,08
277,08
277,OB
2?1.08
211,08
2't1.OB
27L.
271.
27L.
27t,
271,
2'lr,
277.
2't7,
27 t.
277,
2'lL,
2'77.
277,
27L.
2'1I.
27t.
2'tL,
2'7r.
271,
27L.
27L.
271.
271,
27 L,
27L,
2'7L,
271
Total Princlpal Balance
Payment ll
01
o2
03
04
05
06
o1
OB
no
10
11,
12
13
IA
15
16
II
1B
19
2A
2L
23
24
aq
26
27
28
29
30
31
32
33
34
206.93
208,58
2J.0,24
ztt.92
2]3,6L
2t5.3r
2t7 ,A3
278 ,16
220.5t
222,26
224,04
225,82
22't ,62
229.44
231..2'1
233.11
234 .97
236,8s
238.7 4
240,64
242.56
24A .49
246.44
248 .41
250.39
aq) aq
254,40
47 ,04
c3. zo
43,46
4t .64
39.81
37 .9'l
Principal 7r
7,
7,
'1 ,
6l
6,
6,
6t
6,
c
5,
5,
al
4,
4l
4l
3,
3,
3,
I
2l
t
t,
L,
1,!,
08
OB
OB
08
08
OB
08
08
08
08
08
08
08
08
o8
OB
08
OB
OB
08
08
,08
,08
,08
,OB
,08
,08
67
II
64. 15
62,50
60.s4
59.15
57 ,47
55.77
54.05
52,32
50,5?
48,82
36. 11
34,23
32.34
30.44
2B,52
26.59
zq.oq
22,61
20 .69
18.69
16. 68
14.65
72 ,6L
10. 55
a ,47
6,3'7
4.26
3,38
837 .O7
628 ,49
418,25
206,33
992,'72
777 , AL
560.38
341 .62
tzt.lL
898.85
67 4,BL
448.99
22t,36
99L,92
760.65
527,54
292.51
o55.'72
81.6.98
5',16 .34
333,7B
089.29
842.85
594.44
344.05
091. 67
256
258
260
262
264
AA
41
53
837 .27
580. B4
322.3'l
061,83
799,22
534.5L
26'l ,'10
0.00266 .82
26't .10
'l'his Exhibit "B" is hereby vcrifietl as conect by ihe ttndersigned, who uckuorvledgcs receipt ofa copy.
x
X
*,' 8038'GG
(Rev. November 2000)
Department of thB Tr€8surY
lnternsl Revenue Servlce
lnformatlon Return for Small Tax'Exempt
Governmental Bond lssues, Leases, and lnstallment Sales
> lJnder lnternal Revenue Code section 149(e)
Caution: lf the lssue pilce of the lssue ls $100,000 ot morq use Form 8038-G'
a
oMB No. 1545-0720
Check box if Amended Return )
1 lssuer's name
Kent, Glty of
2 lssuer's employer ldentilication number
3 Number and street (or P,o. box lf mall ls not dellvered to street address)
220 4lh Avenue
4 Clty, town, or post offlce, state, and ZIP code 5 Repolt number
5Kent WA 98032
6 Name and tltle of offlcer or legal rePresentatlve whom the IRS may call for moro informatlon 7 Telephone number of oflicer or legal Iepresenhtfue
Paul Dunn 1 253 8564611
8a lssue price of obllgation(s) (see instructions) '
b lssue date (single issue) or calendar year (consolidated) (see instructions) > .----
I Amount of the reported obligation(s) on line 8a:
a Used to refund prior issue(s)
b Representing a loan from the proceeds of another tax-exempt obligation (e,9,, bond bank)
10 lf the issuer has designated any issue under section 265(bX3XBXiXlll) (small issuer exception), check this box
11 ll any obligation is in the form of a lease or installment sale, check this box
12 lf the issuer has elected to in lieu of check this
Under of I have examlned thls return and accompanylng schadules and statements, and to the best of my knowledge
Sign
Here
complete,
7-7-l*
Issuer's Date Type or print name and tltle
sl 6001254
8044.00
and
)
General lnstructions
Section references are ta the lnternal
Revenue Code unless othervvise noted'
Purpose of Form
Form 8038-GC ls used by the issuers of
tax-exemDt qovernmental obligations to
orovide the iRs wlth the informatlon required
bv section 149(e) and to monitor the
rdquhements oi lectlons 141 through 150,
Who Must File
lssuers of tax-exempt governmental
oblioations with issr.ie prices of less than
$10"0,000 must flle Form 8038-GC'
lssuers of a tax-exempt governmental
oblloation with an lssuebrice of $100,000 or
mor"e must flle Form 8038-G, lnformation
Return for Tax-Exempt Governmental
Obligations,
Filind a seDarate return. lssuers have the
ootio-n to fiie a separate Form 8038-GC for
ahv tax-exempt qbvernmental obligation with
an-lssue price of-less than $100,000,
An issuer of a tax-exempt bond used to
finance constructlon expendltures must file a
seDarate Form 8038-GC for each issue to
olrie notlce to the IRS that an election was
firade to pay a penalty in lleu of arbitrage
rebate (seeihe'line 1 2 instructlons),
Filino a consolidated return. For all
tax-ixempt governmental obllgations with
issue orlc'esbf less than $100,000 that are
not reborted on a separate Form 8038-GC,
an issi:er must file abonsolidated lnformation
return lncluding all such lssues lssued wlthin
the calendar year,
Thus, an issuer may file a separate Form
8038-GC for each of -a number of small
lssues and report the remainder of small
lssues issued'durlng the calendar year on one
consolidated Form 8038-GC' However, a
seDarate Form 8038-GC must be flled to give
the IRS notice of the election to pay a penalty
in lieu of arbltrage rebate,
When To File
To file a separate return, file Form 8038-GC
on or beforb the 1sth day of the second
calendar month after thsclose of the
calendar quarter ln which the lssue is issued,
To file a consolidated return, file Form
8038-GC on or before February 1sth of th€
calendar year following the year in whlch the
issue ls lssued,
Late filino, An issuer mav be qranted an
extension-of time to file Form 8038-GC under
Section 3 of Rev, Proc, 88-10, 1988-1 C.B.
635, lf lt is determined that the fallure to file
on time ls not due to wlllful neglect. Type or
orint at the top of the form, "This Statement
is Submltted in Accordance wlth Rev, Proc,
88-10." Attach to the Form 8038-GC a letter
brieflv statino whv the form was not
subniltted to-the iRS on time. Also indicate
whether the obliqation in question is under
examlnation bv tle lRS. Db not submlt copies
of anv bond d-ocuments, leases, or lnstallment
sale documents, See Where To File below.
Where To File
File Form 8038-GC, and any attachments,
with the lnternal Revenue Service Center,
Ogden, UT 84201,
Other Forms That MaY Be Required
For rebatlnq arbltraqe (or paying a penalty ln
lleu of arbltiaqe rebate) to the Federal
oovernment, ilse Forni 8038-T, Arbitrage
'Rebate and Penaltv in Lleu of Arbitrage
Rebate, For prlvatd activlty bonds, use Form
8038, lnformation Return for Tax-Exempt
Private Actlvity Bond lssues,
Rounding to Whole Dollars
You mav show the money ltems on this
return a-s whole-dollar amounts. To do so,
droD anv amount less than 50 cents and
incleasd anv amount from 50 to 99 cents to
the next hig-her dollar,
Definitions
Oblioations, This refers to a single
tax-e-xempt qovernmental obllgation lf Form
8038-GC'ls Ised for separate reporting or to
multiole tax-exempt qovernmental obllgatlons
lf the form is used for consolldated reporting'
Tax-exempt obligation, This ls a bond'
installmend purchSse aqreement, or flnancial
lease, on whlch the interest is excluded from
lncome under section 103.
Tax-exempt governmental obligation' A
tax-exempt obllgation that ls not a prlvate
actlvitv bdnd (see below) is a tax-exempt
ooverimental obllqatlon. This lncludes a bond
Esued bv a qualifiid volunteer fire
departm6nt under section 150(e),
Private activitv bond. This includes an
obligation issu6d as part of an issue ln whlch:
. More than 10% of the proceeds are to be
used for any private actlvlty business use,
and
oronassue
9a
9b
Part I
Part ll
Cat. No.64108B rorm 8038-GC (Rev, 11-2ooo)
Form 8038-GC (Rev. 11-2000)Page 2
. More than 10% of the payment of principal
or intorest of the lssue ls either (a) secured
by an lnterest in property to be used for a
prlvate buslness use (or payments for such
property) or (b) to be derlved from payments
for property (or borrowed money) used for a
private buslness use.
It also lncludes a bond, the proceeds of
which (a) are to be used to make or finance
loans (other than loans descrlbed ln section
1a1(cXZ)) to persons other than governmental
units and (b) exceeds the lesser of 5% of the
proceeds or $5 mllllon,
lssue. Generally, obligations are treated as
part of the same lssue only if they are lssued
by the same issuer, on the same date, and as
part oF a slngle transactlon, or a series of
related transactlons. However, obligations
lssued durlng the same calendar year (a)
under a loan agreement under which amounts
are to be advanced Deriodicallv (a
"draw-down loan") o'r (b) wlth i ierm not
exceeding 270 days, may be treated as part
of the same issue if the obligatlons are
equally and ratably securedirnder a single
indenture or loan agreement and are issued
under a common financing anangement (e.9,,
under the same official statement periodically
updated to reflect changing factual
circumstances). Also, for obligations issued
under a draw-down loan that-meets the
requirements of the preceding sentence,
obligations issued during different calendar
years may be treated as part of the same
issue lf all of the amounts to be advanced
under the draw-down loan are reasonably
expected to be advanced within 3 yearsbf
the date of issue of the lirst oblioation.
Llkewlse, obllgatlons (other than-private
actlvlty bonds) issued under a sirigle
agreement that ls ln the form of a lease or
installrnent sale may be treated as part of the
same lssue if all of the property covered by
that agreement is reasonably expected to be
delivered within 3 years of the date of issue
of the flrst obllgation.
Arbitrage rebate. Generally, interest on a
state or local bond is not tax exempt unless
the issuer of the bond rebates to the United
States arbitrage profits earned from investing
proceeds of the bond in higher ylelding
nonpurpose investments. See section 148(fl.
Construction issue. This ls an issue of
tax-exempt bonds that meets both of the
following conditionsi
1. At least 75% of the available
constructlon proceeds of the lssue are to be
used for construction expendltures with
respect to property to be owned by a
governmental unit or a 501(cX3) organlzatlon,
and
2. All of the bonds that are Dart of the issue
are qualifled 501(c)(3) bonds, bonds that are
not private activlty bonds, or private activity
bonds lssued to finance propi:rty to be
owned by a governmental unlt or a 501(cX3)
organization,
ln lieu of rebatinc anv arbltraoe that mav
be owed to the Unlted'States, ihe issuer df a
construction lssue may make an lrrevocable
electlon to pay a penalty, The penalty ls equal
lo 11lzo/o of the amount of constructlon
proceeds that do not meet certaln spending
requlrements. See sectlon 1480(aXC) and the
lnstructions for Form 8038-T.
Specific lnstructions
ln general, a Form B03B-GC must be
completed on the basls of avallable
information and reasonable exoectations as
of the date the lssue ls issuedi However,
forms that are filed on a consolidated basls
may be completed on the basis of lnformation
readily available to the lssuer at the close of
the calendar year to whlch the form relates,
supplemented by estimates made ln good
falth.
Part l-Reporting Authority
Amended return, lf this is an amended Form
8038-GC, check the amended return box,
Complete Part I and only those llnes of Form
8038-GC that are being amended, Do not
amend estlmated amounts previously
reponed once the actual adrounts are
determined, {See the Part ll lnstructions
below,)
Line 1, The issuer's name ls the name of the
entlty issulng the obligations, not the name of
the entlty recelvlng the beneflt of the
financing. ln the case of a lease or installment
sale, the issuer is the lessee or purchaser.
Line 2. An issuer that does not have an
employer identification number (ElN) should
apply for one on Form SS-4, Application for
Employer ldentificatlon Number. This form
may be obtained at Social Security
Administration offices or by calling
1-800-TAX-FORM, lf the EIN has hot been
received by the due date for Form 8038-GC,
write "Applied for" ln the space for the ElN,
Line 5. After the preprinted 5, enter two
self-deslgnated numbers, Number reports
consecutlvely during any calendar year (e.9.,
534, 535, etc.).
Part ll-Description of
Obligations
Line 8a. The lssue price of obligatlons is
generally determined under Regulations
section 1,148-1(b), Thus, when issued for
cash, the lssue price ls the price at whlch a
substantlal amount of the obligations are sold
to the public, To determlne the lssue price of
an obllgatlon lssued for property, see
sections 1213 and 1274 and the related
regulations.
Line 8b. For a single issue, enter the date of
issue, generally the date on whlch the issuer
physlcally exchanges the bonds that are part
of the lssue for the underwrlter's (or other
purchaser's) funds; for a lease or installment
sale, enter the date lnterest starts to accrue,
For lssues reported on a consolidated basis,
enter the calendar year during which the
obligations were issued,
Lines 9a and 9b, For line ga, enter the
amount of the proceeds that wlll be used to
pay princlpal, interest, or call premlum on any
other lssue of bonds, including proceeds that
will be used to fund an escrow account for
thls purpose. Both llne 9a and 9b may apply
to a particular obligation, For example, report
on line 9a and 9b obligatlons used to refund
prlor issues which represent loans from the
proceeds of another tax-exempt obligation,
Line 11, Check this box lf property other than
cash is exchanged for the obligation, e,9,,
acqulring a police car, a tire truck, or
telephone equlpment through a serles of
monthly payments, ffhis type of obligation ls
sometlmes referred to as a "municlpal lease,")
Also check thls box if real property ls directly
acquired ln exchange for an obllgation to
make periodic paymonts of lnterest and
principal, Do not check thls box if the
proceeds of the obllgatlon are recelved ln the
form of cash, even if the term "lease" is used
in the title of the issue,
Line 12. Check this box if the lssue is a
conshuction issue and an irrevocable election
to pay a penalty ln lieu of arbitrage rebate
has been made on or before the date the
bonds were issued, The penalty is payable
with a Forrn 8038-T for each 6-month porlod
after the date the bonds are issued. Do nol
make any payment of penalty ln lieu of rebate
wlth Form 8038-GC, See Rev. Ptoc,92-22,
1992-1 C,B. 736, for rules regarding the
"electlon document,"
Paperwork Reduction Act Notice
We ask for the lnformation on thls form to
carry out the lnternal Revenue laws of the
United States, You are required to glve us the
informatlon, We need it to ensure that you are
complying with these laws.
You are not required to provide the
lnformatlon requested on a form that is
subJect to the Paperwork Reduction Act
unless the form dlsplays a valid OMB control
number, Books or records relatlng to a form
or its instructions must be retalned as long as
thelr contents may become material in the
adminlstratlon of any lnternal Revenue law,
Generally, tax returns and return information
are confidentlal, as required by section 6103.
The time needed to complete and file this
form varies depending on individual
circumstances, The estimated average time
is:
t hr., 58 min,
.3hr,,3min,
Learning about the
law or the form
Preparing the form
Copying, assembling, and
sending the form to the IRS 16 min,
lf you have comments concerning the
accuracy of these time estimates or
suggestlons for maklng this form slmpler, we
would be happy to hear from you, You can
wrlte to the Tax Forms Commlttee, Western
Area Distrlbution Center, Rancho Cordova,
CA 95743-0001, Do not send the form to this
address, lnstead, see Where To File on
page 1.
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