HomeMy WebLinkAboutResolution No. 20-7974 - Approving a Master Equip Lease Purchase Agrmt & Schedule of Equip No. 1 w-Community Leasing - Fire Training Mod Building0:6fel"fler,11LIT
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DO,UAET
APPROVING A MASTER EQUIPMENT LEASE PURCHASE AGREEMENT
AND SCHEDULE OF EQUIPMENT NO. 1 WITH COMMUNITY FIRST
NATIONAL BANK IN CONNECTION WITH THE ACQUISITION OF A FIRE
TRAINING MODULAR BUILDING
WHEREAS, the City Council, as the governing body of the City of Downey, has
determined that a true and very real need exists A Fire Training Modular Building
("Equipment") described in the Master Equipment Lease Purchase Agreement and
Schedule of Equipment No. 1 presented to the City Council this meeting and that it is
appropriate to finance the acquisition of the Equipment in this manner; and
WHEREAS, the City of Downey has taken the necessary steps under applicable law to
arrange for the acquisition and financing of such Equipment.
NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF DOWNEY DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That the Master Equipment Lease Purchase Agreement and Schedule
of Equipment No. 1 ("Agreement") attached hereto as Attachment "A" is hereby
approved as the best means for the City of Downey, as Lessee in the
Agreement, to finance the acquisition of such Equipment, and the City Council
designates and confirms that either individual listed below is authorized to execute and
deliver on behalf of the City the Master Equipment Lease Purchase Agreement and any
related documents, including the Schedule of Equipment No. 1 ("Schedule"), deemed by
such person necessary to the consummation of the transactions contemplated by the
Agreement:
BLANCA PACHECO, MAYOR OR GILBERT A. LIVAS, CITY MANAGER
CITY OF DOWNEY CITY OF DOWNEY
SECTION 2. The above -named representatives of the City held their position of Mayor
and City Manager at the time of such authorization, and at the present time hold their
respective offices as set forth above.
SECTION 3. The meeting of the Downey City Council at which the Agreement and the
Schedule were approved and authorized to be executed was duly called, regularly convened
and attended throughout by the requisite majority of the members thereof and that the action
approving the Agreement and the Schedule and authorizing the execution thereof has not
been altered or rescinded.
SECTION 4. No event or condition that constitutes, or with the giving of notice or the
lapse of time or both would constitute, an Event of Default (as such term is defined in ths
Agreement), exists as of the date of this Resolution adoption.
SECTION 5. All insurance required in accordance with the Agreement is currently
maintained by the City of Downey.
SECTION 6. The City of Downey has, in accordance with the requirements of law,
fully budgeted and appropriated sufficient funds for the current budget year to make the lease
payments scheduled to come due during the Original Term (as defined in the Agreement) and
to meet its other obligations for the Original Term and such funds have not been expended for
other purposes.
Rill! MEMO
rX ip�iri�ppgi�%�111
APPROVED AND ADOPTED this 1 oth day of Nov m er _,1201220,_
_mom MCAPACHECO, Mayor
LALI�CIA DU&T
City Clerk
I HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council o"l,
the City of Downey at a Regular meeting held on the 1 oth day of November, 2020, by the
following vote, to wit:
AYES:
Council Member&
Ashton, Saab, Rodriguez Frometa, Mayor Pacheco
NOES:
Council Member:
None.
ABSENT:
Council Member:
None.
ABSTAIN:
Council Mem
#ALIC�IADU�A� ,CMC�
City Clerk
ATTACHMENT A
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3�# ['. i M
Wrowl5w . I # A 1 6 IS=
Wif HOU041MI RIM 010-M-een QoMPI Firlst
Seth Child Rd, Manhattan, KS 66502 ("Lessor'), and City of Downey, 11111 Brookshire Ave, Downey, CA 90241 a municipal
corporation and charter city duly organized and existing under the laws of the State of California ("Lessee");
RECITALS
WHEREAS, Lessee desires to lease from Lessor certain equipment described in the schedules to this Agreement, substantially in the form of Exhibit A
W.4*
as the "Schedules", and the items of equipment leased to Lessee hereunder, together with all substitutions, proceeds, replacement parts, repairs, additions,
attachments, accessories and replacements thereto, thereof or therefore, are hereinafter collectively referred to as the "Equipment") subject to the terms
2nd conditions of and for the purposes set forth in this Agreement.
11•1! 1111111 111 iiiii ill !1111 111 11111 !1 1! !!111 1 111 111 # #
1, In I I I I LRA 01MAKWAI I I Lail MIN11.0 114 Lail K 1 ID -will Mr-14 LN IiI IN r�l or.] I I r4m or.] PA (M-11116M Mal is rZ1 V111 MRA M Len III IRA 0 K174 llill,IL7At.. 94111 1 - i 1 -1 1
WHEREAS, Lessee is authorized under the constitution and laws of the State to enter into this Agreement for the purposes set forth herein.
NOW, THEREFORE, for and in consideration of the premises hereinafter contained, the parties hereby agree as follows:
E
I 7aw-a-VaTITC] Cul UJ (I I In Pd I LICZ5 fie I etif, TTI I eme I UU I I el I fly III UA 1 41 He I Carte I VXUU1I dZi .1 It bdf I It I I lay Ut SUPPIt I I Itil I Lea 0 1 d I I It I luet
time in accordance with the terms hereof
"Code" means the Internal Revenue Code of 1986, as amended, and the United States Treasury Regulations in effect thereunder.
purchase the Equipment listed on that Schedule are deposited by Lessor for that purpose with an escrow agent.
"Equipment" means the property described in the Schedules and all replacements, substitutions, repairs, restorations, modifications, attachments,
accessions, additions and improvements thereof or thereto. Whenever reference is made in this Agreement to Equipment listed in a Schedule, that reference
shall be deemed to include all replacements, repairs, restorations, modifications and improvements of or to that Equipment.
"Event of Default" means, with respect to any Lease, an Event of Default described in Section 10.01.
"Escrow Aoreement" means with resoect to a agiven Schedule an escrow ai.reement in form and substance satisfactor_y to LessQ[ between Lessee Lessor
and an escrow agent relating to the acquisition fund created thereunder.
"Lease" means, at any time, (i) if none of Lessor's interest in, to and under any Schedule has been assigned pursuant to Section 9.01, or if all of Lessor's
interest in, to and under this Agreement and all Schedules have been assigned to the same assignee without any reassignment, this Agreement, or (ii) if
Lessor's interest in to and under an Schedule or Schedules has been assigned or reassi ned ursuan to Section 9.01, all Schedules that have the same
toandunderthatSc dulehasbeenassi gned p rsuant to Section 9.01, the assignee thereof or its successor.
afforneys'fees) incurred in the collection of such claim or award.
"Original Term" means, with respect to any Lease, the period from the first Commencement Date for any Schedule under that Lease until the end of the
fiscal year of Lessee in effect at that Commencement Date.
"Purchase Price" means, with respect to the Equipment listed on any Schedule, the amount set forth in that Schedule as the Purchase Price for that
Equipment.
"Renewal Terms" means, with res ect to an Lease the automatic renewal terms of that Lease as irovided for in Article I I I of this Apreement each ha
-Wi-KQ"M%-W Is F
*f the last Rental Payment set forth in the Schedule.
"Rental Payments" means the basic rental payments payable by Lessee pursuant to Section 4.02.
"State" means the state in which Lessee is located.
-quipment.
ARTICLE Ill. LEASE TERM
,8 Lessor hereby demises, leases and lets to Lessee, and Lessee rents, leases and hires from Lessor, the Equipment
listed in each Schedule in accordance with this Agreement and that Schedule for the Lease Term for the Lease of which that Schedule is a part. The Lease
Term for each Lease may be continued at the end of the Original Term or any Renewal Term for an additional Renewal Term; provided, however, that at
MIAMI ON 1-00-3
extent necessary in each proposed annual budget submitted for approval in accordance with applicable procedures of Lessee and to exhaust all available
VON
of Lessee and other matters related to Lessee.
ARTICLE IV. RENTAL PAYMENTS
ftflon en migin s tD onst Lessor and Lessee understand and intend that the obliqation of
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I up
2 -MuniStd - LC9,,
auctioneer's or attorney's fees) shall be applied as follows:
(a) If such remedy is exercised solely with respect to a single Schedule, Equipment listed in that Schedule or rights under the Agreement related to
that Schedule, then to amounts due pursuant to that Schedule and other amounts related to that Schedule or that Equipment,
(b) If such remedy is exercised with respect to more than one Schedule, Equipment listed in more than one Schedule or rights under the Agreement
related to more than one Schedule, then to amounts due pursuant to those Schedules pro rata.
ARTICLE XI. MISCELLANEOUS
�adon 11, All notices, certificates or other communications hereunder shall be sufficiently given and shall be deemed given when defivere-4,
or mailed by registered mail, postage prepaid, to the parties at their respective places of business.
Section 'I J .02. Binding Efttt,� Enti re, I I 1! 1: 1
, iments and Modiftatibm This Agreement shall inure to the benefit of and shall be binding upon
Lessor and Lessee and their respective successors and assigns. The terms of this Agreement shall not be waived, altered, modified, supplemented oi
inks
?Enj
holding shall not invalidate or render unenforceable any other provision hereof.
$kOgn I IM� , Arrind This Agreement may be amended, added to, changed or modified by written agreement duly
executed by Lessor and Lessee.
§�ecfion 1 Ekdiutjon jn'Counjerbgft-��hA�11 OAU�j� This Agreement, including in writing each Schedule, may be executed in several counterparts,
004 .4. NO 0 @-1 ft, - ON NOW -1 ~16 01100. 16, fe.I
counterpart of that Schedule marked "Counterpart No. I," which Counterpart No. 1 shall constitute chattel paper for purposes of the Uniform Commercial
Code.
���Qn 11 Al, QjgW The parties hereto agree that the charges in this Agreement and any Lease shall not be a violation of usury or other law, Any such
excess charge shall be applied in such order as to conform this Agreement and such Lease to such applicable law.
To the extent permitted by law, lessee agrees to waive its right to a trial by jury,
Lessee agrees that a facsimile coRf of this Aoreement or any, Lease with -facsimile sionatures ma be treated as
an original and will be admissible as evidence of this Agreement or such Lease,
The captions or headings in this Agreement are for convenience only and in no way define, limit or describe the scope or intent
of any provisions or sections of this Agreement.
LESSEE:
City of D32
M.
ayIV
Blanca ac o, Mayor
F-ITITZ=- OEHTWDMI�
LESSOR:
Signature
Name and Title
Approved as to for Ity omey
—TFe M. —Abicl Garcia
— 6 —MuniStd - LCR
EXHIBIT A
SCHEDULE OF EQUIPMENT NO. 01, to 10/15/2020
lzm�i
10401"' 4-1011MM U-009151"91 INNER&= we 011 =1
ilLq Mr A1j0fMNV1jZjq; -
Lessee.
1 Defined Terms. All terms used herein have the meanings ascribed to them in the above referenced Master Equipment Lease Purchast
Agreement (the "Master Equipment Lease").
2. Equipment. The Equipment included under the Schedules of Equipment is comprised of the items described in the Equipment Description
attached hereto as Attachment 1, together with all replacements, substitutions, repairs, restorations, modifications, attachments, accessions,
additions and improvements thereof or thereto,
3. Payment Schedule. The Rental Payments and Purchase Option Prices under the Schedules of Equipment are set forth in the Payment Schedule
attached as Attachment 2 hereto.
Representations, Warranties and Covenants. Lessee hereby represents, warrants, and covenants that its representations, warranties and
covenants set forth in the Agreement are true and correct as though made on the date of commencement of Rental Payments on this Schedule.
5. The Master Equipment Lease. This Schedule is hereby made as part of the Master Equipment Lease and Lessor and Lessee hereby ratify
and confirm the Master Equipment Lease. The terms and provisions of the Master Equipment Lease (other than to the extent that they relate
solely to other Schedules or Equipment listed on other Schedules) are hereby incorporated by reference and made a part hereof.
LESSEE:
City of Downey
Blanca Piicheao-,Va—y6io
Duarte, C C F,
LESSOR:
........ ........
Signature
Name and Title
Approved as to form -City Attorney
_iveite M. _AbichGarcia
— 7 —MuniStd - LCR
ATTACHMENT I
EQUIPMENT DESCRIPTION
ITINSfei Equipment Lease rurcnase Agreement and Trie Equipment is locafea on ine premise oi frie Lessee Unless L 1U1,1419
City of Dowq�
Blanca P Mayor
�MAflc�iaDuarAeC YAWe-NE-A ich Gahrcia'
—n—Munum Lcx
ATTACHMENT 2
PAYMENT SCHEDULE
AMORTIZATION SCHEDULE
Purchase
Payment ,
Payment
Payment
Interest
Principal
Option
Number
Date
Amount
Portion
Portion
Price
1
11/11/2020
$12,959.00
$102.42
$12,856.58
Not Available
2
11/1/2021
$12,959.00
$1,706.91
$11,252.09
$37,068.58
3
1111/2022
$12,959.00
$1,302.51
$11,656.49
$25,006.64
4
11/1/2023
$12,959.00
$883.58
$12,075.42
$12,652.80
5
11/1/2024
$12,959.00
$449.58
$12,509.42
$0.00
Grand
Totals
$64,795.00
$4,445.00
$60,350.00
LESSEE,
City of Dow
Blanca Pacheco, Mayor
WHM��M
c rte, CMC
Ap� form -City Attorney
eve M. Abich Garcia
— 9 —MuniStd - LCR
EXHIBIT B
i- i S •
Isiol ORIMMINWIlilo- •-- 0 • �i r r
i`
-•- 10—MuniStd - LCR
Citnv,p o f D o �u
FUTURE UNLIMITED
YVETrE M. ABICH GARCIA
City Attorney November 2, 2020
Community First National Bar's
215 S. Seth Child Road
Manhattan, KS 66502 1
As legal counsel to City of Downey (the "Lessee"), I have examined (a) an
executed counterpart of a certain Master Equipment Lease Purchase
Agreement, dated as of 10/15/2020, and Exhibits thereto by and between
Community First National Bank (the "Lessor") and Lessee, Schedule of
Equipment No. 01 , dated 10/15/2020, (collectively, the "Agreement") by
and between Lessor and Lessee, which among other things, provides for
the lease with option to purchase by the Lessee of certain property listed in
the Schedule of Equipment No. 1 (the "Equipment"),- (b) an executed
counterpart of the ordinances or resolutions of Lessee which, among other
things, authorizes Lessee to execute the Agreement and (c) such other
opinions, documents and matters of law as I have deemed necessary in
connection with the following opinions,
Based on the foregoing, I am of the following opinions�
(1) Lessee's true and correct name is City of Downey-,
(2) Lessee is a municipal corporation and charter city, duly organized
and existing under the laws of the State of California, and has a
substantial amount of the following sovereign powers: (a) the power
to tax, (b) the power of eminent domain, and (c) police power-,
(3) Lessee has the requisite power and authority to lease the
Equipment with an option to purchase and to execute and deliver
the Agreement and to perform its obligations under the Agreement;
.(4) The Agreement and the other documents either attached thereto or
required therein have been duly authorized, approved and executed
by and on behalf of Lessee and the Agreement and other
documents either attached thereto or required therein are the valid
and binding obligations of Lessee enforceable in, accordance with
their terms
DFIC,'E OF 7-41E 017I A 770RN Y III "I PROOKSHHFAVENUE P,C), 30X 7013 DC)YINEY, CA 90241-I''D 13 (562" 904-7288 FAX "562) 923-4-3388
(5) The authorization, approval and execution of the Agreement and a
other proceedings of Lessee relating to the transactions
contemplated thereby have been performed in accordance with all
open meeting laws, and all other applicable state or federal laws,'
(6) To the best of my knowledge, and as of the date of this opinion,
here is no proceeding pending or threatened in any court or beforE
any governmental authority or arbitration board or tribunal that, if
adversely determined, would adversely affect the transactions
contemplated by the Agreement or the security interest of Lessor
its assigns, as the case may be, in the Equipment;
(7) The signatures of the officers which appear on the Agreement hol(
the offices set forth below their names-,
(8) No further approval, consent or withholding of objection is requirec
from any federal, state or local governmental authority with respec
to the entering into or performance by the Lessee of the Lease aniis
the transaction contemplated thereby;
(9) The Equipment leased pursuant to the Agreement constitutes
personal property and when subjected to use by Lessee will not b(
or become fixtures under applicable law;
(10) The Lessee is a political subdivision within the meaning of Section
103 of the Internal Revenue Code of 1986 as amended and the
related regulations and rulings.
All capitalized terms herein shall have the same meanings as in the
foregoing Agreement unless otherwise provided herein. The above opinion
is for the of benefit of the Lessor and can only be relied upon by the
Lessor or any permitted assignee or sub -assignee of Lessor under the
Agreement. This opinion letter speaks only as of the date set forth above.
In rendering this opinion letter, I undertake no obligation to supplement or
update this letter in the future. This opinion letter is limited to the matters
on which the Lessor has requested my opinion, and this opinion letter
should not be read as expressing any opinion except on the matters
expressly set forth herein.
CITY OF DOWNEY
fl
Yvette M. Abich Garcia
City Attorney
EXHIBIT D
In accordance with the Master Equipment Lease Purchase Agreement (the "Agreement"), the undersigned Lessee
hereby certifies and represents to, and agrees with Lessor as follows:
(1) All of the Equipment (as such term is defined in the Agreement) listed in the above referenced Schedule of
Equipment (the "Schedule") has been delivered, installed and accepted on the date hereof.
(2) Lessee has conducted such inspection and/or testing of the Equipment listed in the Schedule as it deems
necessary and appropriate and hereby acknowledges that it accepts the Equipment for all purposes.
(3) Lessee is currently maintaining the insurance coverage required by Section 6.05 of the Agreement.
(4) No event or condition that constitutes, orwith notice or lapse of time, or both, would constitute, an Event of Default
(as defined in the Agreement) exists at the date hereof.
(5) Lessee has appropriated and/ortaken other lawful actions necessary to provide moneys sufficient to pay all Rental
Payments required to be paid under the Agreement during the current Budget Year of Lessee, and such moneys
will be applied in payment of all Rental Payments due and payable during such current Budget Year.
(6) The governing body of Lessee has approved the authorization, execution and delivery of this Agreement on its
behalf by the authorized representative of Lessee who signed the Agreement.
(7) The Lessee will in a timely fashion submit the appropriate paperwork to the State to have a title to the Equipment
issued in their name as owner and Lessor listed as first lienholder. Such verification of perfected ownership and
security interest will be provided to Lessor no later than 90 days from delivery of the Equipment.
City of
Blanca PaCffe—&6,�ayor
Attested byCity Clerk
�ari �ficia Dua �eCM�C�
Approved as t ity Attorney
-o-mmn/md Lon
BANK QUALIFIED CERTIFICATE
4 . . 0 • . . . . I I . . . 0 . , 0 , a
- 0 , i 61tafluAns as 0, 1 - - . ..
M It W
0,111111116111 -0 W11 1011.01, W_111r�1141
I r-41 a R F I
Designation as Qualified Tax -Exempt Obligation. Pursuant to Section 265(b)(3)(13)(i) of the Internal Revenue Codt
of 1986 as amended (the "Codethe Lessee hereby specifically designates the above referenced Agreement as a
"qualified tax-exempt obligation" for purposes of Section 265(b)(3) of the Code. In compliance with Section 265(b)(3)(D)
of the Code the Lessee her b e sent that the Lessee will not desi•natemorethan 10000000
TrICUITr I en les T ne Lessee i
the Code) reasonably anticipates not to issue in the calendar year during which the above referenced Agreement is
LESSEE:
City of Dow
,x
Blanca Pa6heco, Mayor
Attested by City Clerk
4ariaAfida �Dua Duarte,
Approved as to form-0 ttorne
- I I
�Abich Garcia
-- 13 —MuniStd - LCR
INSURANCE COVERAGE REQUIREMENTS
Lessee: City of Downey
Please mark one of the following:
( ) Pursuant to Section 6.05 of the Agreement, you have agreed to provide us evidence of insurance covering the property
in the Agreement. A Certificate of Insurance naming all insured parties and coverage must be provided to us as soon as
possible, but no later than the date on which delivery of equipment occurs.
( ) Pursuant to Section 6.05 of the Agreement, we are self -insured for all risk, physical damage, and public liability and will
provide proof of such self-insurance in letter form, together with a copy of the statute authorizing this form of insurance.
Coverage must be provided to us as soon as possible, but no later than the date on which delivery of equipment occurs.
Equipment to be insured: One (1) New 24 X 40 Fire Training Modular Building
Policy should be issued and mailed to: Community First National Bank and/or Its Assigns
215 S. Seth Child Road
Manhattan, KS 66502
INSURANCE REQUIREMENTS:
1. --LIABILITY
V $1,000,000.00 Aggregate Bodily Injury
V $1,000, 000.00 Combined Single Limit per Occurrence
V Community First National Bank andlor Its Assigns MUS be listed as additional insured and loss payee.
2. PHYSICAL DAMAGE
All risk coverage to guarantee proceeds sufficient to cover the replacement cost of the equipment.
Community First National Bank andlor Its Assigns MUS be listed as additional insured and loss payee.
3. ENDORSEMENT
V Lessor will receive at least thirty (30) days written notice from Insurer prior to alteration, cancellation or reduction
of insurance coverage.
Deductibles should be listed on the Certificate of Coverage
LESSEE:
City of Co
Blanca Pacheco, Mayor
Attested by City Clerk
aria Icia )Ua e, C
THE CERTIFICATESHOULD BE
EMAILED TO MqidAnongotbkqIqu§_anet
OR FAXED TO: 888.777.7875 1
Approved as to form-C'ty Attorney
ette M. Abich Garcia
- 14 -MuniStd - LCR
RE: Schedule of Equipment No. 01, dated 10/15/2020, to Master Equipment Lease Purchase Agreement, dated as of
10/15/2020, between Community First National Bank, as Lessor, and City of Downey, as Lessee.
Lease Number: DOWCA2020-10
Equipment Description: One (1) New 24 X 40 Fire Training Modular Building
=-
P.O. Box/Street:
City, State, Zip
Email Address:
— iS —MuniStd - LCR
NOTICE OF ASSIGNMENT
City of Downey
11111 Brookshire Ave
Downey, CA 90241
Please be advised that Community First National Bank has assigned all its right, title and interest in, to a
under the above referenced Master Equipment Lease Purchase Agreement (the "Agreement"), t
Equipment leased thereunder and the right to receive Rental Payments thereunder to the followi
Community First National Bank will be the servicing this lease and all Rental Payments and payment of
the Purchase Option Price due under the Agreement will be made to:
215 S. Seth Child Road
Manhattan, KS 66502
Signature
LESSEE:
City of Downs
121
Blanca P46heco, Mayor
Attested by City Clerkproved as to for C
4.6114a 'Ilua�IeCM�C���� _Ve_tt4__M.Ab7i6h Garcia
*Lessor may eta future date desire toassign this lease agreement. Atthis time, ospecific Assignee isundetermined. /tsuch time Lessor
determines a need to assign this lease-, Lessee will be provided with a completed copy of this page for their records and be made aware of
any changes inwhere 10send the rental payments going forward. This assignment option ieoutlined inArticle |Xofthe Master Equipment
Lease Purchase Agreement.
-z6 -mumStu LCn
F.,,18038-GC Information Return for Small Tax -Exempt
(Rev. January 2012) Governmental Bond Issues, Leases, and Installment Sales OMB No. 1545-0720
Department of the Treasury No- Under Internal Revenue Code section 149(e)
Internal Revenue Service Caution: If the issue price of the issue is $100, 000 or more, use Form 8038-G.
eporting Authforit Check box if Amended Return El
1 issuer's name r2l_ssuer's employer identification number (EIN)
— City of Downey 95 11918226
3 Number and street (or P.O. box if mail is not delivered to street address) Room/suite
11111 Brookshire Avenue 1
City, town, or post office, state, and ZIP code 5 Report number (For IRS Use Only)
Downey, CA 90241
F I
Name and title of officer or other employee of issuer or designated contact person wt-vorn the JR- Smay-call for more information 7 Telephone number of officer or legal representative
[MM Desciription of Obli2ations Check one:'a single issue [W or a consolidated return
8a Issue price of obligation(s) (see instructions) . . . . . . . . . . . . . . . . . . Ea 60,350 :00
b Issue date (single issue) or calendar date (consolidated). Enter date in mm/dd/yyyy format (for
example, 01 /01 /2009) (see instructions) 10/15/2020
9 Amount of the reported obligation(s) on line 8a that is:
a For leases for vehicles . . . . . . . . . . . . . . . . . . . . . . . . . . 9a
b For leases for office equipment . . . . . . . . . . . . . . . . . . . . . , 9b
c For leases for real property . . . . . . . . . . . . . . . . . . . . . . 9c,
d For leases for other (see instructions) Modular Building . . . . . . . . . . . Sid 60350
e For bank loans for vehicles . . . . . . . . . . . . . . . . . . 9e
f For bank loans for office equipment . . . . . . . . . . . . . . . 9f
g For bank loans for real property. . . . . . . . . . . . . . . . . —29
h For bank loans for other (see instructions) . . . . . . . . 9h
i Used to refund prior issue(s) . . . . . . . . . . . . . . . . . . . . . 9i
i Representing a loan from the proceeds of another tax-exempt obligation (for example, bond bank) 9i
k Other . . . . . . . . . . . . . . . . Ak
10 If the issuer has designated any issue under section 265(b)(3)(6)(i)(111) (small issuer exception), check this box No El
11 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check this box (see instructions) El
12 Vendor's or bank's name: Community First National Bank
-- -- --- ------ ------ ---------------------- ------------------- * --------------------------------------- 13 VRnrinr'-, nr hnnk',, omnlovor Purnber,
Z=
nalfies Of perjury, I declare that I have examined this return and accorripanying:schedulas and statements, and to the best of my knowledge and belief, they are
act, and zomplerle. I further - th*t=MmHe4lwQS ,'s disclosu of 1he Issuurn er's tvtinformation, as necessary to process this return, to the person(s)
9 autho
Print/Type preparer's name
-------------------------------------------
name Do.
I Firms address 11-
General Instructions
Section references are to the Internal Revenue
Code unless otherwise noted.
The IRS has created a page on IRS.gov for
information about the Form 8038 series and
its instructions, at www.irs.gov/form8038.
Information about any future developments
affecting the Form 8038 series (such as
legislation enacted after we release it) will be
posted on that page.
Purpose of Form
Form 8038-GC is used by the issuers of tax-
exempt governmental obligations to provide
the IRS with the information required by
section 149(e) and to monitor the
requirements of sections 141 through 150.
Blanca Pacheco, Mayor
tat ce Date Type or print name and title
Preparer's signature Date PTIN
Who Must File
Issuers of tax-exempt governmental
#bligations with issue prices of less thar.
$100,000 must file Form 8038-GC.
NOW 01
more must file Form 8038-G, Information
Return for Tax -Exempt Governmental
Obligations.
ED Kv_a_qapq_r_7t;,-_xP_ti
Issuers have the option to file a separate
Form 8038-GC for any tax-exempt
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pay a penalty in lieu of arbitrage rebate (see
the line 11 instructions).
Filing a consolidated return for multiple
issues. For all tax-exempt governmental
obligations with issue prices of less than
$100,000 that are not reported on a separate
Form 8038-GC, an issuer must file a
consolidated information return including all
such issues issued within the calendar year.
Thus, an issuer may file a separate Form
8038-GC for each of a number of small issues
and report the remainder of small issues
issued during the calendar year on one
consolidated Form 8038-GC. However, if the
issue is a construction issue, a separate Form
8038-GC must be filed to give the IRS notice
of the election to pay a penalty in lieu of
arbitrage rebate.
Cat. No, 64108B Form 8038-GC (Rev, 1-2012)