Report to Mayor and City Council
Tuesday, January 26, 2021
Discussion
SUBJECT:
Title
CONSIDER ADOPTING RESOLUTION NO. 21-008 A RESOLUTION OF THE CITY OF CARSON, CALIFORNIA DETERMINING TO ENTER INTO A LEASE AGREEMENT WITH JP MORGAN CHASE BANK RELATED TO THE PURCHASE OF CERTAIN HEATING, VENTILATION, AND AIR CONDITIONING (HVAC) EQUIPMENT, APPROVING AGREEMENTS AND OTHER DOCUMENTS RELATED THERETO AND DECLARING ITS OFFICIAL INTENT TO REIMBURSE ITSELF FOR EXPENDITURES (CITY COUNCIL).
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I. SUMMARY
On November 17, 2020, the City Council approved a design-build agreement between TRANE U.S. INC and the City of Carson concerning new air filtration and HVAC systems at the City Hall and the Community Center in response to emergency action authorized during the August 4, 2020 City Council meeting. Staff issued a Request for Proposals (RFP No. 20-33) to solicit tax-exempt lease purchase financing to support the City's HVAC improvement project. After review of the six submissions received, on December 21, 2020 the City sent a Notice of Intent to Award to JP. Morgan Chase. The Lease purchase documentation was provided by JP Morgan and negotiated to the satisfaction of the City's Finance Director and Counsel. Staff recommends that the City Council approve Resolution No. 21-008 authorizing staff to enter into a Lease agreement with JP Morgan Chase and the official documents related thereto.
II. RECOMMENDATION
Recommendation
TAKE the following action:
WAIVE further reading and ADOPT Resolution No. 21-008, "A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARSON, CALIFORNIA, DETERMINING TO ENTER INTO A LEASE AGREEMENT WITH JP MORGAN CHASE BANK, N.A. RELATED TO THE PURCHASE OF CERTAIN HVAC EQUIPMENT, APPROVING AGREEMENTS AND OTHER DOCOMENTS RELATED THERETO, AND DECLARING ITS OFFICIAL INTENT TO REIMBURSE ITSELF FOR EXPENDITURES"
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III. ALTERNATIVES
TAKE any other action the City Council deems appropriate.
IV. BACKGROUND
On November 17, 2020, the City Council app...
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