ORDINANCE NO. 260730
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Sponsor: Director of Finance Department
Authorizing the Director of Finance to execute Master Equipment Lease/Purchase Agreements with Banc of America Public Capital Corp ("BAPCC") to provide funds for the acquisition, installation and construction of various real property, capital equipment and other personal property and to execute any and all documents and agreements necessary for the transactions under one or more master lease purchase agreements; authorizing the Director of Finance to amend and extend the Agreements; authorizing the City Attorney to contract with Kutak Rock LLP to serve as Lease Counsel; and waiving the contract solicitation and Article IV, Chapter 3, requirements otherwise set out in the Code of Ordinances.
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WHEREAS, the City requires the use of real property, capital equipment and other personal property, including without limitation software (collectively, "Leased Property"), for the efficient execution of the responsibilities of various departments; and
WHEREAS, it is essential that the City have the ability to acquire, install and construct the Leased Property in a timely manner in order to improve the efficiency, effectiveness and control of the City; and
WHEREAS, the City previously issued a Request for Proposal No. EV2752 soliciting proposals to provide master lease purchase agreements, and the City selected BAPCC as the best proposal; and
WHEREAS, the City needs to ensure continuity with the City's existing lease-purchase financing program; and
WHEREAS, the master lease structure involves specialized financing terms and established legal provisions that will involve increased time for a competitive solicitation process; and
WHEREAS, conducting a full solicitation may increase costs and delay essential services or capital projects; and
WHEREAS, utilizing the current framework provides administrative efficiency, maintains co...
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