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ATTACHMENT 1 <br /> RESOLUTION NO. <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON <br /> APPROVING PURCHASE OF AN ENFORCER 1500 GPM PUMPER TYPE 1 FIRE <br /> ENGINE, AUTHORIZING THE EXECUTION AND DELIVERY OF AN EQUIPMENT <br /> LEASE/PURCHASE AGREEMENT WITH JPMORGAN CHASE BANK, N.A., AND <br /> AUTHORIZING THE CITY MANAGER TO EXECUTE RELATED DOCUMENTS AND <br /> ACTIONS NECESSARY TO COMPLETE THE LEASE/PURCHASE FINANCING IN AN <br /> AMOUNT UP TO $1,389,166 <br /> WHEREAS, the City desires to purchase a Type 1 Fire Engine from Golden State Fire <br /> Apparatus, Inc. (GSFA) to replace an existing fire engine that is 12 years old; and <br /> WHEREAS, the City wishes to prepay for the fire engine through a lease/purchase <br /> arrangement with JPMorgan Chase Bank, N.A. to receive a pre-payment discount from GSFA; <br /> and <br /> WHEREAS, the City received a competitive lease/purchase proposal from JPMorgan <br /> Chase Bank, N.A. indicating a 4.305% per annum interest rate with a five-year term (semi-annual <br /> payments in arrears); and <br /> WHEREAS, there are sufficient funds in the FY 2023/24 budget to cover the first lease <br /> payment of $138,917, and future lease payments will be appropriated through budget adoption. <br /> NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF <br /> PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: <br /> Section 1: Approves the purchase of an Enforcer 1500 GPM Pumper Type 1 Fire <br /> Engine from Golden State Fire Apparatus, Inc. in the amount of $1,237,932 which includes a 10 <br /> percent contingency. <br /> Section 2: Authorizes the execution and delivery of an equipment lease/purchase <br /> agreement with JPMorgan Chase Bank, N.A. <br /> Section 3: Authorizes the City Manager to execute related documents and actions <br /> necessary to complete the lease/purchase financing in an amount up to $1 ,389,166 including <br /> $1,237,932 in principal and $151 ,234 in interest. <br /> PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br /> a regular meeting held on September 5, 2023. <br /> I, Jocelyn Kwong, City Clerk of the City of Pleasanton, California, certify that the foregoing <br /> resolution was adopted by the City Council at a regular meeting held on the 5th day of September <br /> 2023 by the following vote: <br /> Ayes: <br /> Noes: <br />