HomeMy WebLinkAboutRes 00-18 Authorizing an Agreement with Trophy Club/Westlake DPS for the Aquisition and Re-Sale of an AmbulanceTOWN OF WESTLAKE
RESOLUTION NO. 00-18
A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS, AUTHORIZING THE TOWN MANAGER TO EXECUTE
AN AGREEMENT WITH THE TROPHY CLUB/WESTLAKE DEPARTMENT
OF PUBLIC SAFETY FOR THE ACQUISITION AND RE -SALE OF AN
AMBULANCE, AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Westlake is a participating member of the Trophy
Club/Westlake Department of Public Safety (the "DPS"); and
WHEREAS, the DPS has been authorized to purchase a new ambulance for use
by the DPS; and
WHEREAS, the Town of Westlake desires to assist the DPS in the purchase of a
new anibulance by purchasing the vehicle and reselling it to the DPS; and
WHEREAS, the Town of Westlake and the DPS will benefit from the
transaction authorized herein.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF
ALDERMEN OF THE TOWN OF WESTLAKE, TEXAS:
SECTION 1: That all matters stated in the preamble are found to be true and
correct and are incorporated herein as if copied in their entirety.
SECTION 2: The Town Manager is authorized to execute an agreement with the
Trophy Club/Westlake Department of Public Safety, which agreement will provide for
the purchase of an ambulance, and resale of same to the DPS with a reasonable interest
rate mutually agreed to by both parties.
PASSED AND APPROVED ON THIS 24`h DAY OF APRIL, 2000.
Scott Bradley,'Mayor
ATTEST:
-- -�
Inge rosswy, Town cretary Trent O. Petty, fown Maager
APPROVED AS TO FORM:
INTERLOCAL AGREEMENT BETWEEN THE
TOWN OF WESTLAKE (THE "TOWN") AND THE TROPHY CLUB WESTLAKE
DEPARTMENT OF PUBLIC SAFETY (THE "DPS") CONCERNING THE
ACQUISITION AND FINANCING OF A NEW AMBULANCE
WHEREAS, the DPS is scheduled to acquire a new ambulance for its operations, and
has funds allocated to finance the purchase of the ambulance over future years; and
WHEREAS, the Town is a participating member of the DPS; and
WHEREAS, the Town has proposed to purchase the ambulance, subject to a
commitment from the DPS to repay the Town the acquisition costs of the ambulance and a
reasonable rate of interest; and
WHEREAS, the DPS has thoroughly examined its financing options for the ambulance;
and
WHEREAS, the Town has agreed to finance the ambulance purchase at terms superior to
any other available funding source; and
WHEREAS, the Town's return on the ambulance purchase will provide investment
income superior to most other available investment sources; and
WHEREAS, the purchase of the ambulance and its financing provided for herein will be
mutually beneficial to the Town and the DPS; and
WHEREAS, the Town and DPS desires to enter into this Interlocal Agreement to
provide for the purchase and acquisition of a new ambulance for the DPS.
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of
which is hereby acknowledged and the mutual promises that are relied on by both parties do
hereby Agreement and agree as follows:
I.
All matters stated in the preamble are found to be true and correct and are incorporated
into the body of this agreement as if copied in their entirety.
II.
The Town and the DPS agree to participate jointly in the acquisition and financing of a
new ambulance, as follows:
1. The Town will acquire a new ambulance pursuant to the requirements of the DPS
(the "Ambulance") with Town Funds.
2. Ownership and maintenance responsibility for the Ambulance shall immediately
be transferred to the DPS.
3. The DPS' use and ownership of the Ambulance shall be subject to any other
existing, applicable agreements regarding DPS assets.
4. The DPS shall be responsible for providing insurance acceptable to the Town for
the Ambulance at all times during the term of this Agreement.
The DPS will reimburse the Town for its expenditures on the ambulance as
outlined in Section III. Herein.
M.
The DPS agrees to reimburse the Town the cost of the Ambulance over a eight (S) year
term. The DPS will be responsible for making [annual/quarterly/monthly] installment payments
to the Town, which payments will provide for the return of the Town's principal (the acquisition
cost of the Ambulance) plus six and three quarters (6.75) percent simple interest
IV.
The parties to this Agreement agree to cooperate to sign and deliver any other documents
that may be necessary or appropriate to implement the provisions of this Agreement. This
Agreement will only terminate upon the DPS' full and final payment of its obligations provided
for herein. This Agreement represents the entire and integrated agreement among the parties
relating to this matter and supersedes all prior negotiations, representations and/or agreements,
either written or oral. This Agreement may be amended only by written instrument signed by all
parties to this Agreement.
The validity of this Agreement and of any of its terms or provisions, as well as the rights
and duties of the parties to the Agreement, shall be governed by the laws of the State of Texas.
This Agreement is performable in Denton and Tarrant County, Texas, and venue of any dispute
arising under or relating to this Agreement shall be in either Denton or Tarrant County, Texas.
If any clause, paragraph, section or portion of this Agreement is found to be illegal, unlawful,
unconstitutional or void for any reason, the balance of the Agreement remains in full force and
effect and the parties shall be deemed to have contacted as if that clause, section, paragraph, or
portion had not been in the Agreement.
2
Each party hereby certifies to the other parties that the execution of this Agreement has
been authorized by the governing board of the certifying party in accordance with applicable law
and the rules of such party and that the undersigned officers and/or agents of the certifying party
are the properly authorized officials and have the necessary authority to execute this Agreement
on behalf of such party.
This Agreement is signed by the parties in multiple counterparts. This Agreement is
dated and effective as of the date of the last party to sign as indicated on their signature lines
below.
TOWN OF WESTLAKE, TEXAS
By: 5a, Ci
ScottBradley Date
Mayor
Attest:
By: y
ti nger CrosswyO Date
TROPHY CLUB/WESTLAKE
DEPARTMENT OF PUBLIC SAFETY
Date
Attest:
By."
�4a
Amount of loan
Term
Interest rate
1St payment
June 1 2001
June 1 2002
June 1 2003
June 1 2004
June l 2005
June 1 2006
June 12007
June 1 2008
Amount
Term
Interest Rate
I" Payment
AMORITIZATION SCHEDULE
Ambulance note to Westlake
$125,000
8 years
6.75%
June 1, 2001
Interest payment
8,437.50
7,607.69
6,721.87
5,776.25
4,766.80
3,689.22
2,538.90
1,310.93
Principle payment
12,293.50
13,123.31
14,009.13
14,954.75
15,964.20
17,041.78
18,192.10
19,420.07
AMORITIZATION SCHEDULE
Chief's Vehicle note to MUD1
$35,000
4 years
6.75%
April 30, 2001
Principle
7,912.23
8,446.31
9,016.43
9,625.04
Total
20,731.00
20,731.00
20,731.00
20,731.00
20,731.00
20,731.00
20,731.00
20,731.00
Total
10,274.73
10,274.73
10,274.73
10,274.73
Interest
April 30, 2001
2,362.50
April 30, 2002
1,828.42
April 30, 2003
1,258.30
April 30, 2004
649.69
Principle
7,912.23
8,446.31
9,016.43
9,625.04
Total
20,731.00
20,731.00
20,731.00
20,731.00
20,731.00
20,731.00
20,731.00
20,731.00
Total
10,274.73
10,274.73
10,274.73
10,274.73