HomeMy WebLinkAbout2002 Resolution No. 051• RESOLUTI ON NO. fi/__
SERIES OF 2002
A ::ESOLUTION OF THE CITY COUNCIL OF THE CITY OF ENGLEWOOD ,
COLORADO , DECLARI NG ITS OFF[CIAL [NTE NT TO REIMBURSE ITSELF WITH THE
PROCEEDS OF A F UTU RE BORROWING FOR CERTAIN CAPITAL EXPENDITURES TO
BE UNDERTAKEN BY THE CITY ; [IJENTIFYJNG SAID CAPITAL EXPEND[TURES AND
THE FUNGS TO BE USED FOR SUCH PAYMENT; AND PROVID!NG FOR CERTAIN
OTHER MATTERS [N CONNEC".'ION THEREWITH .
WHEREAS , the City of Englewood (the "City"), in the State of Colorado (t he "State"), is a
political s ubdivision duly organized and existing pursuant to the Constitution and laws of
the State; and
WHEREAS, the City Council of the City (the "City Council") is the governing body of the
City; and
WHEREAS , the City Cou ncil of the Ci ty of Englewood t1Uthorized the implementation of a
new computer assisted dispatch (CAD ) system in 1997; ar.\d
WHEREAS , in 1997 the City acquired mobile data term inals (MOT's) for City police cars;
and
WHEREAS , the MD'r's are coming to the end of their useful lila and nee d to be replaced ;
aqd
• WHEREAS, the City has used lease-parchase finan cing for these technical acquisitions in
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the past be cause of the relatively short life cycle of these products; and
WHEREAS , the total system expenditure is estimated a t $154,000 with the estimated
lease payments over five to seven years which should not exceed $37,000 per year: and
WHEREAS. the City Council ha s dete,mined that it is in the best interest of the City to
make certain ca pital expenditures on laptop computers and associated costs for the
Englewood Safety Services Department; and
WHEREAS, the City Council currently intends and reasonably expects to pdrticipate in a
taxable or ta::i::•e::tempt borrowing ta finance such capital expenditures, including an amount
which is currentlv estimated not to exceed $154,000 .00 (the "Financed Amount"), to
reimburse the City for all or a port.1o n of such capital expenditures incurred or to be incurred
sub sequent to a pe riod co mm enr~ng 60 d.ays prior to the date hereof, and ending prior to the
later of 18 months of the date of such capital expenditures or the placing in service of the
Project (b ut in no event more than 3 ye:irs after the date of the l>rigi .~ : ~xpenditure of such
moneys); and
WHE REAS , the City Council hereby desires to declare its official intent. pursuant to 26
C.F .R. §1.160-2. to reimburse the City for s uch capital e~-pe nclitures with the proce eds of the
City's future ta."<ah!e or ta x-e:i:empt bo rrowing;
NOW . THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, THAT :
~. PedorntiPn of officio I Intents. The City shall , presently intends, and
reasonably expe cts to fin•nce t.he Project with leg ally available funds .
~-Dates of Capital E;sneoditure s. All of the capital expenditur es cove red by this
Resolution were or will be made on and after the date which is si.~ty (60) days prior to the
effective date of this Resolution .
Se..c1:ic.n..... Issuon ce of Bonds Note s or n Lea se Purchas e Financing. The City presently
inte nds an d reasonably e xpects to participate in a taxable er tax-e x~mpt borrowing within
eightee n (18) months of the date of th . expenditure of moneys on the Project or the date
up on which the Project is placed in service , wh.ichever is later (but in no event more than
three (3) years after the date of the original expenditure of s uch mon eys), and to allocate
from sa id borrowing on amount not to excee d th e Financed Amount to reimburse the Cit:i· for
its e xpenditures in co nnection with the Project.
~-Confirmatjon of P~ All prior acts and doings of the officials, agents
and employees of the City which are in conformity with the pnrpose antl intent of this
Re solution , and in furtherance of the Project, shall be and the same hereby are in all
respects ratified, approved and confirmed.
ADOPTED AND APPROVED this 6"' of May , 2002 .
~J<ftt_·
Loucris hia A. Ellis . City Clerk
I , Loucrishia A. Ellis , City Clerk for the City of Englewoo
above is a true copy of Resolutioc •;;,_{i_L, Series of 200 .
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COUNC IL COMMUN ICATION
Dat e: Age nd a It em: Subject:
May 6, 2002 10 C ii A resolu ti o n declaring the i nten t of the City
of Eng lewood to rei mburse itself w ith
proceeds of a futu re borrowing for capital
outlays related to th e acquisition of mobil e
data terminals and associ ated eq uipment
In itiated By: I Staff Source :
Fin ,nee and Adm ini strative Services D epartment Fra nk Gryglewic7.,_rnrector
COUNCIL GOAL AN D PRE VIOUS ( '•UN CIL ACTION
The City Council has supporte d techni,.; improvements that improve th e City's la w enforcement efforts.
RECOMMENDED ACTI ON
Staff re commends the City Cou nci l approve the attacheJ reso luti on .
BACK GROUND , ANALYSIS, AND ALTE RN ATIVES IDENTIFIED
The City of Englewood implemented a ne w compu ter a ;isted dispatch (CAD) system in 1997. At that ti me
the City acquired mobile nata terminals (MDT's) fo r City police cars . The M DT's are coming to the end of
their use ful li fe and need to be replaced. City staff has us ed lease-pu rchase financing fo r these technica l
acquisitions in th e past because of the relative ly shot life cycle of these products.
Th e oth er alternative would be to pa1• cas t for this acquisition .
FINANCIAL IMP ACT
The total system expenditure is esti mated at S 1 S4,000. Th e est imated lease pay ments over five to seven
years and should not exceed $37,000 per year. City staff may try to include this with the IBIS eq uipment
lease if it results in a cos t savings to the City.
UST OF ATTAC HMENTS
Prop ose d res ol uti on